Tips To Make Third-Party Aggregators Work for Membership Loyalty Programs
- Posted on December 5, 2022 by Robert
- Reading time about 5 minutes
As we witness increasing demand for member benefits programs, more and more brands are making use of loyalty programs that provide third-party offers to their members such as discount movie tickets, gift cards, accommodation, experiences, and lots more. However, brands struggle a lot to leverage third-party aggregators and best serve their business goals. With the help of proper research and planning, businesses can benefit from these platforms & move toward a profitable approach.
Let’s find out everything we need to know about membership loyalty programs and how brands can make use of third-party aggregators to set up a perfect solution for brands that want to offer a wide range of rewards.
Challenges Associated With the Partnership Loyalty Program
With customers having more choices than ever, they want everything in one place. To meet these evolving needs, businesses must offer their members a wide range of offers and rewards from third-party brands such as discounts, bonus deals, or special pricing. For this, brands must establish partnerships where they need to negotiate specific deals with each third party to come up with the best program benefits.
The problem with this approach is that it is very time-consuming, based on the range of products and the breadth of where they’re available, even after having all the necessary partner contacts.
How Third-Party Aggregators Help Members Benefit Program?
Third-party aggregators are a great solution! How? We will learn now. We know that many aggregators have evolved with time as they provide both white-labeled transaction platforms along with an offer base built from relationships with third-party partners like gift-card providers, cinemas, travel brands, experience companies, etc.
This saves the time and effort of program operators that would have taken in negotiating and setting up the offers. To enable access, aggregators only charge an annual fee per member or a flat rate annual fee for a specific number of members. On the other hand, some third-party aggregators give an option for the brands to clip some of the transaction margins. However, these options are available for some
products like gift cards, movie tickets, etc. with a fixed percentage discount. One of the most important aspects to be considered is a tradeoff between program engagement & recouping of the program cost.
Best Examples of Third-Party Aggregators
To help you gain more insights, let’s explore some of the top third-party aggregators that brands should be familiar about-
In this aggregator, brands deal with dining, activity, shopping, travel, & service offers. Well-known for the “Entertainment Book”, a book of coupons used in Australian schools & workplaces over the past couple of decades, this organization has transitioned digitally to a website & mobile app.
Some examples of rewards offered by the members’ benefit program are 2-for-1 deals at a new store, 10% off at Sephora, special rates on Travelodge Hotels, and a bonus of 5 complimentary sessions at Vision Personal Training.
Though Entertainment can manage consumer memberships, a good loyalty program with Entertainment partnerships can do wonders in providing a common network of offers to their member base. Additionally, brands can take the opportunity to implement fundraising for a cause in the program. Also, they can offer discounts on membership fees after allowing purchasers to select a fundraiser.
Novus Loyalty is a renowned aggregator platform that offers both white-labeled solutions as well as coalition loyalty programs. This enables multiple brands to come up together in a single place to offer a more appealing members’ benefit program at a lower cost and a higher cross-selling experience.
With a wide range of capabilities such as campaign, offers and gift card loyalty management software, Novus enable multiple brands that are willing to work together & have a common and more fruitful program. This provides more relevant incentives and motivation to customers thereby increasing the chance of positive business results for all partnered brands.
3. The Ambassador Card
This is an aggregator that comes with a white-labeled platform having more than 3,500 offers in one solution. Their network enables multiple brands to provide their loyal members with different rewards like instant discounts, gift cards, and exclusive offers on a wide range of goods, and services from restaurants, hotels, and theatres to tourist attractions, accommodation, healthcare, and many more.
The best thing about the Ambassador card is that it provides a high degree of scalability and customization as it is a white-labeled solution. This enables loyalty program operators to personalize offers and communications to members as per needs.
4. Neat Ideas
As an aggregator with a fully customizable white-labeled platform, Neat Ideas enable brands to make use of their own branding and choose relevant offers as per their specific needs for their program. It also offers customer service and campaign management services if needed.
The best thing about Neat Ideas is that it has a wide range of offers available in the realm of entertainment, travel, and lifestyle, which can be tailored exclusively to fit the brand’s needs in the programs.
As we can see that third-party aggregators offer a great chance for brands that wish to provide members benefits programs with a wide range of rewards, it is gaining huge attention as it is an inexpensive solution that can be set up quickly. These platforms are continually evolving with UI and UX improvements and expansion with many partnerships along with the development of more functionality on white-labeled platforms.
If you are planning to set up a member benefits program, the aggregators’ platform is a great choice as they are adopting new technologies like AI, NFTs, and Web 3.0 to expand their utility in delivering offers to program members. Novus, being the best business loyalty program provider for businesses across the globe can incorporate aggregators’ platforms in members’ benefit programs enabling them to attain business goals faster at a lower cost. Book a demo with our experts today to know more.