Blogs | Related

Motivating Minds: The Psychology of Incentives and Rewards

Motivating Minds: The Psychology of Incentives and Rewards

Have you ever wondered why incentives are so effective in a marketing strategy as well as motivating people to take action? Whether it's a monetary bonus, a gift, or even public recognition, incentives have a powerful influence on our behavior. In this blog, we'll explore the psychology behind incentives and why/how they work to motivate us.

Customer Loyalty Programs: Your Business Growth Engine

Customer Loyalty Programs: Your Business Growth Engine

Customer loyalty is the secret ingredient that fuels business growth. As businesses tirelessly strive to captivate new audiences, they must also recognize the paramount importance of nurturing existing customer relationships in the long-run. Loyal customers tend to spend more, refer others, and become advocates for the brand, contributing to a positive brand reputation and increased market share.

Your Guide to a Winning Reward Catalogue

Your Guide to a Winning Reward Catalogue

Reward programs are an effective way to incentivize your customers and keep them engaged. A reward catalogue is the key to increase customer engagement and to translate incentives into rewards.

Building the Best Loyalty Programs for SMEs

Building the Best Loyalty Programs for SMEs

In order to stay competitive in today’s cut-throat markets, businesses have been obsessing over attracting new customers, and that’s a good thing. However, not all businesses seem to be aware of the vital importance of customer retention and customer loyalty programs. It’s an easy case to be made, particularly for SMEs. Study after study has proven that returning customers purchase more frequently, spend more with every purchase, cost less to acquire (as the cost of acquisition gets spread over a significantly higher customer lifetime value), are more likely to stick by you (even when you mess up!), and will even actively promote your brand.

Refining Loyalty Programs with Smart(er) Technologies

Refining Loyalty Programs with Smart(er) Technologies

Last year, a McKinsey & Company special report, which surveyed consumer sentiment amid the coronavirus crisis, came to the conclusion that the pandemic had fast-tracked both consumer and business digital adoption by five years in a matter of eight weeks. Namely, the drastic acceleration was attributed to the fact that companies had rushed to digitize their businesses to protect their employees, while also seeking to bolster their ability to serve customers – who were now either under lockdown or suffered from decreased mobility – remotely.

The Importance of Being Earnest (in Times of Covid)

The Importance of Being Earnest (in Times of Covid)

A person’s true character is often revealed in times of crisis, and that is certainly true for brands as well. The COVID-19 pandemic has deeply affected the changing relationship between consumers and businesses. It created a deep sense of uncertainty and fear that pushed customers to value empathy more. It raised customers’ concerns over sustainability issues and also heightened their anxiety over unreliable and biased information, accelerating the demand for more openness and accuracy.

The Power of Personalization

The Power of Personalization

About 4 years ago, the Economist boldly declared that “the world’s most valuable resource is no longer oil, but data.” It probably sounds clichéd by now, but the analogy in fact runs a little bit deeper than one initially thinks: much like crude oil, raw data must be processed – segmented, manipulated, analyzed and optimized – to be turned into something we can make use of.

More Data, Better Tools & Bigger Opportunities: The Power of Partnership Ecosystems

More Data, Better Tools & Bigger Opportunities: The Power of Partnership Ecosystems

Only dynamic loyalty programs are capable of meeting today’s shifting customer expectations effectively. In other words, it’s the companies that build their consumer loyalty strategies around fluid, value-driven partnerships of products, services, and experiences, that are able to truly deliver on customers’ unmet needs, even beyond their own touchpoints. In fact, the value of loyalty partners has been documented thanks to research by affiliate management agency Acceleration Partners: From a sample of over 90 industry-leading brands, the agency found that, on average, the 10 largest loyalty partners drove 30% of clients’ total program revenue.

The 4 Pillars of Loyalty Programs

The 4 Pillars of Loyalty Programs

The time it took to develop a vaccine for the Coronavirus disease was nothing short of a medical miracle. And yet, however promising that may be, the implications of the pandemic for businesses are far from being over. There is consensus among experts that even after social distancing and lockdown measures are relaxed and eventually lifted, businesses will still have to adjust to a ‘new normal’.

Beyond Stand-Alone Loyalty Programs: The Reward Marketplace

Beyond Stand-Alone Loyalty Programs: The Reward Marketplace

The earliest known loyalty programs date as far back as the late 18th century, when merchants in the US started rewarding purchases with copper tokens that could be later redeemed against discounts and gifts. Loyalty marketing has come a long way since then: digitization is accelerating innovation while increased competition is leading to the creation of new and more efficient models.

4 Success Factors for Launching a Loyalty Program

4 Success Factors for Launching a Loyalty Program

In our previous post, we highlighted the importance of cultivating emotional bonds in fostering brand loyalty and, consequently, improving ROI. To quickly recap: customers that feel more connected to your brand are more tolerant of price premiums and easier to retain – i.e. more likely to buy your products or seek your services over and over again.

The Value of Brand Communities

For brands, cultivating lasting emotional connections with an audience pays enormous returns. We know that to be fact. “Of the 62% of consumers surveyed who said they felt a relationship with a brand, 76% went on to say that they have used that brand for four years or more because of the trust they have in it”, according to Deloitte Digital’s recent study.

The Subtle Art of Giving Back

The Subtle Art of Giving Back

I was always intrigued and dazzled by the concept of “Pay it forward”, a classic act of kindness. It’s really quite simple: if someone is kind to you, pass that kindness forward to someone else without expecting anything in return. This concept tends to resurface particularly in times of need when its social effect is strongly felt. Today, giving back to the community, country or humanity is one of the most sacred deeds a person or an organization can carry.

Brands Post COVID-19: Out With the Old, In With the New

Brands Post COVID-19: Out With the Old, In With the New

The COVID19 pandemic has taken everyone by surprise, including brands. With the spread of fear, extreme safety measures, and lockdown, there came the inevitable shift in lifestyle and purchasing habits.

Business Focus: Do What You Do Best, and The Rest Falls into Place

Business Focus: Do What You Do Best, and The Rest Falls into Place

The key to your business’s success is carefully finding your niche and its needs, rather than being a jack-of-all-trades.

Brand Loyalty through Marketing Automation

Explore in great depth how marketing automation can serve to boost up your loyalty program.

People Behind Related: Khadija Al Salem

People Behind Related: Khadija Al Salem

Full-Stack Developer. Full-Time Mother. Full-Speed Ahead. We take a look at Khadija's journey as she celebrates two years with Related.

How Loyalty Will Survive in the Metaverse

How Loyalty Will Survive in the Metaverse

The centuries-long evolution of loyalty programs seems to be on the cusp of another great leap.

Resal Signs a Strategic Partnership Deal with Related for the Design and Development of Loyalty and Rewards Solutions

Resal Signs a Strategic Partnership Deal with Related for the Design and Development of Loyalty and Rewards Solutions

Resal, the leading Saudi company in providing rewards and loyalty solutions through prepaid digital cards, announced today the signing of a strategic partnership agreement with Related, a leading company in the field of designing loyalty and rewards solutions that aim at enhancing customer experience, operating in various GCC and Middle Eastern countries through a large network of more than 3000 brands across many industries.

People Behind Related: Rajni Chettiar

People Behind Related: Rajni Chettiar

If you’ve ever wondered what it takes to manage a loyalty program, you’re in for a treat. Rajni Chettiar, our Loyalty Operations Manager, is here to share insights on her role and some personal tidbits you might not expect.

The Transformative Power of Rewards Programs

The Transformative Power of Rewards Programs

In the business world, love may seem like an unconventional concept. However, when they prioritize it as a core value, they foster a culture that strengthens every interaction. This approach leads to exceptional customer experiences, increased loyalty, and long-lasting relationships. Customers feel valued, understood, and appreciated, motivating them to become brand advocates.