Today's customers seek not just great products but also great experiences, such as seamless transactions and real benefits like cashback. In this environment, marketing managers have to swim and adapt or sink. One life buoy that can help them stay afloat is card-linked offers.
Card-linked offers are not just a trend but a powerful solution for exceeding customer expectations with every purchase. They provide versatility for businesses to adapt to evolving customer needs.
This article dives into how technology allows businesses to offer more than just products; it offers an enhanced shopping experience that's both engaging and rewarding.
How card-linked offers offer a more seamless approach for customers
One of the primary advantages of card-linked offers is their ability to integrate seamlessly into the customer's shopping journey.
Businesses do not incur an upfront cost, and no additional training is required. Customers can register their credit cards with a CLO program. Once set up, the system automatically recognizes eligible transactions without any additional input from the user, streamlining the shopping experience.
Rewards are applied directly at the point of sale when using a linked card. This automatic process ensures that customers do not have to remember to use special codes or submit rebate forms, providing a frictionless transaction experience. Customers can shop how they usually would and earn rewards seamlessly.
Furthermore, the rewards earned can be directly tied to the customer's financial goals like saving, investing and even donating. This means they can shop, earn, and be closer to reaching their goals. It's a win-win for businesses and their customers.
How card-linking can provide tangible benefits
Another key aspect of card-linked offers is their focus on providing real, tangible benefits that customers value.
With the rising cost of living, many customers expect more from customer programs. Recent data suggest that while rising prices remain a primary concern for most shoppers, card-linked discounts and rewards have effectively alleviated spending anxieties. In fact, 81% of shoppers are more inclined towards stores that offer rewards or cashback.
Unlike traditional loyalty programs that may offer points or rewards that customers collect and redeem later, CLOs can provide cashback at the point of purchase. This immediate benefit is transparent, easily understood, and can be directly used towards different financial goals, enhancing the offer's perceived value.
Through the analysis of transaction data, businesses can customize offers based on the customer's shopping habits and preferences, increasing the likelihood of redemption and satisfaction.
How Olive's card-linking platform works
Our platform facilitates the creation of these card-linked programs, offering customization options for merchants to align rewards with strategic business goals, like increasing transaction values or customer acquisition rates.
Here is how Olive's card-linking platform works:
- Onboarding: Customers sign up and link their primary credit or debit card to the program through Olive's platform.
- Tracking: Once the card is linked, Olive's system automatically tracks the customer's purchases. This is facilitated through secure connections with payment networks, ensuring that all data is captured without needing to store personal banking information.
- Recognition of Purchases: When customers make eligible purchases with their linked card, the transaction details are securely communicated to Olive's platform.
- Rewards Application: Based on the criteria set by the merchant (like minimum purchase amounts), rewards such as cashback are automatically calculated and applied to the customer's account in real-time.
- Notification: Customers receive instant notifications about the rewards they've earned, enhancing the shopping experience and encouraging further engagement with the brand.
Throughout this process, we ensure that no sensitive personal identification information or banking credentials are compromised.
To see the Olive platform in action, request a demo with one of our team members today!