You can see tough competition in any business these days. There are numerous players and there is nothing like monopoly in the economy. So the businesses are trying out all their tricks to win new customers. For a business, both winning new customers and retaining existing customers are real challenges. Reward programs are one of the methods they use to retain their existing customers.
Reward programs are free points or miles offered by businesses to their customers on successful completion of orders. The recipients of miles or points can use them for paying off subscription charges, online payments, booking a flight ticket, etc. People are also observed with selling their points to interested buyers for cash. Below are some leading providers of reward points.
Boloco’s Boloco Card
The U.S. based restaurant chain, Boloco, offers points based loyalty program for its customers. You get a Boloco card when you visit their restaurant for the first time. After that, every time you visit the restaurant and spend $50, you get free points for that. However, the free points by Boloco do not have any resale value and therefore you cannot sell them like selling United miles or so.
Virgin Atlantic Flying Club
Virgin Atlantic Flying Club offers both free miles and tier points. The free miles can be used to book Virgin Atlantic flights. Although the company does not encourage it, you can sell your free miles from the club just like selling United miles. The miles and points from Virgin Atlantic Flying Club are grouped into two categories – Club Silver and Club Gold. The Club Gold miles and points have more resale value.
If you are an Amazon Prime user and spend at least $99 a year, you get a two-day shopping with no minimum purchase restrictions on Amazon.com. Many customers think that Amazon prime offer is more valuable than the free points offered by the reward programs. The customers get enough value for their money. The Amazon Prime offer has helped the e-seller to increase its customer base.
American Express Free Reward Programs
The key advantage with American Express free reward programs is that their points can be sold to anyone, because there is great demand for American Express points always. Moreover, the points have good resale value, and you can earn more this way.