Create reward-focused programs to enhance CX online and drive ROAS

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 25, 2021, 2:14 AM GMT+0

Retailers are integrating cashback, coupons, and discounts into pre-existing affiliate marketing to boost return on advertising spend (ROAS).

The economy is booming, owing to consumers’ appetite for shopping and the growth of ecommerce driven by COVID-19. This, however, has resulted in more consumers expecting rewards and discounts, as a part of their online shopping experience. Rewards have been proven to be “paramount” to consumer experience (CX), according to a recent American Banker and Monigle survey.

Implementing rewards-focused marketing channels can increase revenue, sales conversions, average order value, and lower cart abandonment. Card-linked offers allow consumers to activate online rewards for in-store purchases, allowing retailers to attribute offline sales to online ads. While card-linked offers do not reflect normal shopping behaviour, they provide detailed insights into consumers’ transaction history.

Though shopping portals make it easy for customers to access all rewards and discounts, they are cumbersome because they need customers to log in, visit the portal, and activate the reward. Consumers' online shopping experiences can be streamlined by developing real-time shopping companion plugins. These tools promptly display offers from any brand's site, allowing consumers to reap incentives and cashback in real-time.

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