What's the Point?
10/26/17
In building loyalty among customers, value is the name of the game. Loyalty programs, from airlines to hotels, are only as impactful as the value they return to their customers in the form of points or miles that can be redeemed for tangible rewards.
A recent study examined which hotel brands offer the most value, based on the average number of points earned per booking, and how valuable those points can be when redeeming.
The winner was Wyndham, where an average of 16.7% of each hotel night booked could be used for a future stay. In other words, for every $100 spent at Wyndham, the points earned would result in $16.70 worth of credit towards another stay. Audience Rewards’ hotel partner, Starwood Preferred Guest, returned 5.4%, or $5.40 per $100 spent.
So we wondered: How does Broadway compare? To find out, we analyzed the average points earned per transaction. In our loyalty program, an average of 7.8% of our members’ purchase price is redeemable for their next ticket purchase. Or, on a $125 ticket, that’s about $9.75 of value when redeeming.
While this value proposition already aligns us closely with major hotel brands, our shows go above and beyond these benchmarks when offering targeted incentives. Members buying tickets that qualify for Audience Rewards bonus offers receive off-the-charts value compared to these hotel averages. The average bonus-earning ticket gives the member a 22.5% return. On a $125 ticket, that means $28 in free value to apply towards their next ticket – a great incentive to keep them coming back.
The point is, customers respond to value, and with your help, our bonus offers provide Broadway’s best customers with a big bang for their buck.
Learn more about Audience Rewards at www.AudienceRewards.com.
A recent study examined which hotel brands offer the most value, based on the average number of points earned per booking, and how valuable those points can be when redeeming.
The winner was Wyndham, where an average of 16.7% of each hotel night booked could be used for a future stay. In other words, for every $100 spent at Wyndham, the points earned would result in $16.70 worth of credit towards another stay. Audience Rewards’ hotel partner, Starwood Preferred Guest, returned 5.4%, or $5.40 per $100 spent.
So we wondered: How does Broadway compare? To find out, we analyzed the average points earned per transaction. In our loyalty program, an average of 7.8% of our members’ purchase price is redeemable for their next ticket purchase. Or, on a $125 ticket, that’s about $9.75 of value when redeeming.
While this value proposition already aligns us closely with major hotel brands, our shows go above and beyond these benchmarks when offering targeted incentives. Members buying tickets that qualify for Audience Rewards bonus offers receive off-the-charts value compared to these hotel averages. The average bonus-earning ticket gives the member a 22.5% return. On a $125 ticket, that means $28 in free value to apply towards their next ticket – a great incentive to keep them coming back.
The point is, customers respond to value, and with your help, our bonus offers provide Broadway’s best customers with a big bang for their buck.
Learn more about Audience Rewards at www.AudienceRewards.com.
Originally published in Broadway Briefing.