New online currency aims to revolutionise rewards
Retailers have been quick to sign up to the proposition, known as ‘epoints rewards’, including John Lewis, SportsDirect.com, House of Fraser, Boots and Clarks, having recognised the low risk nature of the programme.
The programme launches with over two million redeemable products, gift cards and experiences; aiming to have the widest selection of redeemable offers in the world.
epoints rewards is an affordable and cardless alternative for retailers setting up their own dedicated loyalty programmes. The scheme enables retailers to avoid the common industry problems associated with traditional loyalty schemes such as:
· Initial investment
· Monthly maintenance costs
· Production of plastic cards including replacement cards
· Low value rewards to consumers resulting in poor retention
· Becoming locked into an expensive scheme
· Limited consumer insight data
Overcoming these traditional barriers, epoints rewards requires no investment or start-up costs and low maintenance costs while providing greater rewards to consumers. A typical member, regularly using the epoints rewards programme, can expect to accumulate £200 to £250 worth of value, which is significantly more attractive than a vertical loyalty scheme, likely to generate on average £25-£30 of value over the year to consumers.
In addition to their epoints rewards, members will receive £200 worth of personalised vouchers each month, which creates additional material value to them.
Founder and CEO, Matt Norbury, launched his first tech start up twelve years ago at the age of 18 and is the driving force behind a highly experienced management team.
Matt says: ‘The cost of setting up a dedicated loyalty scheme can exceed hundreds of thousands of pounds and this is prohibitive for many retailers. epoints allows retailers of all sizes to be part of a loyalty programme which benefit from the extensive insights and information we are able to provide about their customers’ purchasing behaviour. When applied across all channels, epoints can provide a single view of customer so hot on the agenda of retailers.’
‘epoints rewards is a unique programme as retailers are never ‘locked in’; members can still collect epoints from hundreds of other retailers. The cost of maintaining an epoints programme is minimal, compared to the thousands of pounds per month that traditional schemes can cost.’
Consumers are rewarded with epoints for making purchases through the site, where the retailers’ products are available. epoints can also be obtained through activities such as referrals, watching videos and engaging with select online websites.
The latest website to adopt epoints is www.videojug.com, a major online branded video portal, rewarding their millions of visitors with epoints when they engage with content.
Through a team of dedicated data management experts, using the very latest technology, epoints is able to supply retailers with high quality insights extracted from the purchasing behaviour and patterns of customers using the programme. Retailers are then able to apply these insights to the personalisation of their offers and promotions.
The epoints programme follows the recent successful launch by Instant Access Technologies (IAT) of the disruptive new marketing and content platform, bigDL. IAT specialise in providing high street retailers with creative digital marketing solutions.
Matt continues: ‘epoints rewards is a coalition loyalty programme which we designed to provide consumers with real and tangible value and convenience that you wouldn’t get from the standard retailer scheme. It provides retailers with a unique proposition that drives loyalty and customer retention and is, at the same time, low risk and affordable.’