Loyalty and rewards as a way to gain and keep customers for SA businesses is the focus of this edition of the Business Day Spotlight.
Our host Mudiwa Gavaza is joined by Andre Fredericks, CEO of loyalty and rewards at Sanlam Life and Savings.
Fredericks says loyalty and rewards - popularised by the likes of Discovery’s Vitality, FNB’s eBucks, and Pick n Pay Shopper - are no longer a nice to have for businesses.
He says the number of South Africans using loyalty programmes has increased year-on-year. According to the 2022 SA Loyalty Landscape Whitepaper, 73% of economically active South Africans are using reward programmes, compared with 67% in 2015.
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At a time when consumers are under pressure, loyalty and rewards programmes are especially attractive.
Sanlam uses its programmes to acquire and retain customers, while using data gained from consumer behaviour to improve products.
Topics of discussion include: the importance of loyalty and rewards in SA; the size and usage by consumers; data gained from such programmes; and how to successfully implement and structure a loyalty programme.
Business Day Spotlight is a TimesLIVE Production.
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