Get to Know the BSP Rewards Partner Program
A meaningful loyalty program with a high ROI
Rewards programs are a productive channel for acquiring new customers but, more so, for fostering greater loyalty from existing customers. Since their inception in the 1930s, rewards programs have continued to gain in popularity and are used in a variety of industries with a multitude of incentives and redemption options.
Today, there are a wide variety of loyalty programs available. At their core, all loyalty and rewards programs are all designed to serve the same purpose: help increase customer lifetime value. The vast majority of loyalty programs are point-based, that allow users to redeem for free merchandise or exclusive products and services. The airline industry relies heavily on their frequent flier programs to build loyalty and engagement. Most programs reward consumers for achieving a predetermined goal rather than for real-time actions transactions. Consumers today are flooded with offers to join every program under the sun, most of which are irrelevant to their lives. The good news is, despite the recent history of companies spamming consumers to join their loyalty programs, there is a set of meaningful programs that all consumer can, and do, find personal value from.
On average, it costs a company 5-10 times more to acquire a new customer than to sell to an existing member of their database. Also, leads that are properly nurtured throughout the sales funnel will spend approximately 50% more than non-nurtured leads, while existing customers tend to spend almost 70% more than those newly acquired. What is the recipe for success in identifying and integrating an effective rewards program into the marketing mix without investing a fortune, and that can also produce high ROI?
The BSP Rewards Partner Program has been designed for businesses and non-profits who want to provide distinctive added value to their clients and supporters. BSP Rewards is a sister company to DubLi.com, the world’s most comprehensive Cash Back shopping website, both owned by Ominto, Inc. (Nasdaq: OMNT). BSP Rewards use the same technology foundation as DubLi.com to provide a state-of-the-art global Cash Back shopping experience to businesses and non-profits around the world, by either creating a new or layering on to those organizations existing loyalty programs. The technology of the global Cash Back site allows small businesses to have loyalty programs like Fortune 500s, but at a fraction of the cost.
BSP Rewards supports more than 1,800 corporate and non-profit co-branded Partner Programs in over 60 countries, with customers in 100 countries around the world. It serves all market sectors and industries from banks to telco companies, sports teams to philanthropic organizations. BSP Rewards creates new funding avenues for non-profit organizations in which they can enter a cause-related marketing alliance, instead of hoping to become a beneficiary of someone else’s campaign. BSP Rewards is offered to non-profit organizations for free and there are no costs associated with operating the programs, only the rewards of doing so as BSP Rewards offers a generous 30% commission on all sales that are driven through the shopping website. Because it is a digital loyalty solution, the organization is not required to hire staff or dedicate resources to operating or managing it. It essentially runs itself.
The BSP Rewards Partner Program can be seamlessly integrated into an organization’s existing marketing strategy and comes with numerous benefits, including higher customer retention, higher customer engagement, increased customer lifetime value, increased revenue from existing customers and, last but not least, re-engagement of dormant customers. BSP Rewards is a cash-based program, which enjoys a higher perceived value than point- or mile-based rewards. Consumers purchase behavior is influenced by where they can earn loyalty rewards or program points. With over 12,000 brand name stores, BSP Rewards’ website rewards every transaction a consumer makes with Cash Back, making it the most relevant of all global loyalty programs.
One of the many advantages of BSP Rewards lies in its simplicity and modularity: the BSP shopping site empowers consumers to maximize savings by combining its other loyalty, membership or credit cards and on top of the coupons and Cash Back. Joining BSP Rewards is simple and free for customers of a Partner, providing a win-win situation for all participants with no obstacles.
Not only does the BSP Rewards shopping site encompass over a billion products, featured through over 30 categories, but it’s also always progressing with new features and functionality. Customers of participating BSP Rewards Partners can join the newly-launched and enhanced VIP Lounge, a paid membership that offers access to hyper-discounted deals on everything from travel, shopping, and dining to leisure and entertainment with increased Cash Back rates. With this upgraded membership package, the company introduced DubLi Travel. DubLi Travel is a private label travel search engine, featuring worldwide hotels and listing one of the largest hotel inventories at more than 15,000 destinations. With discounts of up to 60% on hotel bookings, DubLi Travel is backed by leading travel industry hotel accommodation partners, priceline.com, Booking.com and agoda. com, who have a global presence in North America, Europe, the Middle East and Asia-Pacific region. VIP Lounge members can save on air travel with 10% discounted flight vouchers on round-trip flights anywhere in the world.
Satisfied customers are the primary goal of any loyalty and rewards programs. Happy customers shop with a brand more, regardless of that brands products. Eventually, these happy customers become advocates and brand spokespeople sharing their likes and dislikes with their friends and family. In a world that is digitally connected, with people sharing their lives and their preferences through social media, an organization benefits from the referral marketing of one friend to telling another. BSP Rewards provides a favorable, rewarding vehicle for people to brag about their shopping experience and their earned Cash Back. Furthermore, BSP Rewards offers a lucrative refer-a-friend program that provides an additional incentive and viral marketing tool for consumers of a Partner Program to market and share access.
By constantly innovating and researching, BSP Rewards is at the forefront of the loyalty incentive market that consumers, businesses and non-profits need, want and use. Combining savings, spending and exclusive opportunities, BSP Rewards knows how to satisfy the shoppers they receive from Partners.