What Are the Most Innovative Reward Systems in the Entertainment Industry?
Loyalty programs have been around for a long time and continue to be extremely popular. According to a report by Forrester Research, 72% of adults online are in at least one program, while 78% said that these schemes save them money. What innovations have we seen in recent years that should ensure that loyalty programs remain valuable in the entertainment industry?
The iGaming Sector Offers Varied Rewards
The online gaming industry has grown enormously in the last few years, meaning that competition between casinos, bingo and other types of gaming sites is fierce. A strong loyalty rewards scheme is among the key elements that operators can use to stand out from the crowd and keep players happy.
New members will usually get a big boost to their first deposit and then carry on receiving more offers regularly. Many different benefits are given to existing players to keep them playing in the same casino. These include free spins on slots games and bonuses that boost their cash deposits.
We can see the best casino bonuses for British players on the VegasSlotsOnline site, with 500 free spins on Starburst among the biggest deals for newcomers. You also need to be aware of the terms and conditions relating to the number of times you have to play through your winnings and whether a maximum win limit is in place. In addition to this, this site offers guidance on how to decide if a bonus is worth it, as well as information on how to claim welcome bonuses.
Some iGaming loyalty programs also give additional benefits like birthday bonuses, invitations to special events and faster withdrawals, usually aimed at high rollers. Online bingo sites offer similar bonuses to casinos, with the example of Foxy Bingo and its sister sites showing bonuses that reach up to 400% and others with as many as 150 free spins.
Amazon Prime Uses Mobile to Notify of Deals
One of the most successful programs in this area comes from the online retail giant and it introduces the concept of paying to enjoy their most exclusive level of service. Amazon Prime is a paid service that gives users access to a wide range of different benefits and it is thought that there are about 150 million people around the planet who have joined it.
Members get access to the likes of faster delivery, music and video streaming, special deals and more. The annual highlight is their Prime Day, which is actually a two-day event when Amazon sends out regular mobile notifications during each day to let Prime users get hold of exclusive deals.
This is one of the reasons why Prime has such a high renewal rate of over 90%. People seem happy to pay for extra features rather than rely on a free loyalty scheme. For the company, this is a win-win situation, as Prime members tend to spend more on their products than other users, as well as paying extra for the service.
Disney Encourages Members to Delve Deeper into the Brand
In 2019 the name of the Disney rewards scheme changed from Disney Rewards to Disney Movie Insiders, reflecting a slicker and more modern approach. You now need to download the app, after which you can rack up loyalty points by buying DVDs or movie tickets from the brand, which includes Marvel and Star Wars.
Purchases are made directly from the app and even just completing an online survey gets you some points. These points can then be exchanged for a range of benefits, such as movie discounts, access to the upcoming trailers and invitations to special Disney events. Their site also mentions that interactive experiences will soon be added to the scheme.
A key feature of this loyalty program is that the benefits all encourage you to delve deeper into the brand. Rather than giving you rewards to spend on other things, they give you Disney-related experiences, conveying their confidence that loyal members simply can’t get enough of what they offer. At the moment, it is only available in North America.
These examples give us a good idea of how loyalty schemes are evolving in the entertainment industry, with each sector developing an approach that suits them. We can expect to see further innovations in the near future, as entertainment companies look for new ways to make their customers feel a greater connection with them.