Earn & Burn Leads To Yearn

7th April 2022

Written by Tom Peace

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Earn & Burn Leads To Yearn

7th April 2022

Written by Tom Peace

Earn & Burn Leads To Yearn

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When you think about loyalty programs in general, earn and burn loyalty programs are what you usually think of. It is the simplest yet most effective loyalty strategy. Customers earn points through activities assigned by a brand and burn or redeem the accumulated points in exchange for discounts, rewards or incentives.

The reason behind the success of this strategy is its simplicity.

Customers, globally, understand this concept and are more than willing to put their money on something they know, understand and trust. Customers are attracted to these programs because most customers understand and believe in the concept of ‘earning and saving for later'.

How to maximise your earn and burn strategy?

Offer multiple earn mechanics:

If there are many ways users can earn points such as double points items or seasons, purchasing, sharing, or answering customer surveys gives the programme more interactivity.

Partner with charities:

Allowing your customers to donate their points equivalent to a charity adds in the 'feel good' factor and will strengthen ties.

Partner with other brands:

Tesco Clubcard do this extremely well with great offers on your points to use them with other retailers. Converting your food shop to a meal out or gift is a great incentive to keep collecting. The mobile app Swapi was created for this purpose!

Reward sharing:

Additional points in return for testimonials, reviews, user-generated content and referrals or code sharing is a great way to generate word of mouth marketing for your scheme.

If you want to level up your earn and burn strategy, we're happy to help!