Loyalty programs could be changing and shifting to experience based rewards. As an example, Reebok, recently purchased by Adidas, is trying a loyalty program called Unlock. This is a point system, partnering with fitness organizations and brands, giving members more access to events and experiences, instead of discounts. This could well be what loyalty programs will be in the near future.

“As a company, it’s vital to really think about what you are selling and how you can make it more meaningful with your customers.”

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With this scheme, aside from the obvious benefits for the customers, an additional advantage is data for the company.

Following on the example of Reebok, more and more brands like MapMyRun and MyFitnessPal reward you for using their products and apps. Whilst customers and users are reaping the rewards, the companies in turn receive all the data from the usage. This builds on a more personalized experience, hitting their target market even more on point.

Despite slight risks in security, users are still willing to share their usage data, recognizing the value and advantages of convenience and personalization. Ultimately, this mutual understanding and benefit creates a more meaningful relationship between buyer and brand.

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