| If you are a member of the Own your Life Rewards programme, by now you should have received notification that we are winding down the programme and that it will be discontinued in a year’s time on 31 March 2017.
Loyalty reward programmes are a great way to add value to one’s customer base, but only if the programme meets the needs and expectations of the majority of the clients.
Unfortunately, due to the proliferation of reward programmes, we found that most of our clients were already part of existing programmes offered by retailers and banks and therefore the take-up of the Own your Life Rewards was limited. This meant the programme was not seen as a real value-add to the majority of our clients.
With between 10 and 15% of our loyalty reward members actively using the programme, the majority were actually subsidising the few. As such, we did not feel the programme was meeting our requirement to provide value-add services or differentiate our product offering.
Members who were benefiting from the programme will understandably be disappointed, but we assure you that we will be finding more innovative and focused ways to enhance our value proposition.
For more information on this, please contact your financial adviser or visit: www.ownyourliferewards.co.za |
