Thirteen, the classic baker's dozen, is one of the oldest versions of perks to earn customer loyalty, but it takes more than a free doughnut to keep customers coming back these days.
In today's hyper-competitive world, true business-building perks cannot be just old-school loyalty programs or run-of-the-mill discounts.
TrendWatching.com, which says it has 8,000 people around the world on the lookout for new consumer trends, has coined the term "perkonomics" to describe consumer brand preferences that are increasingly determined by experience and differentiation.
Two of the most important consumer benefits — status and convenience — are the foundations for the most successful customer loyalty programs. Perks can help you achieve the following:
• Create uniqueness for commodity products
• Attract first-time customers
• Generate positive word-of-mouth and spark publicity
• Cultivate more desirable brand perceptions
Commodity products (credit cards, for instance) use perks to set themselves apart from one another. Capital One's air miles are the norm today, and a new perk is a credit card with your own photo on it. (So who's in your wallet? You are!)
At a recent festival in San Francisco, Visa Signature cardholders got an interesting perk — access to private luxury restrooms — while others, including those priceless MasterCard customers were relegated to Porta-Potties.
Saving time is a perk that customers hold dear. How many of you have taken advantage of the Disney FastPass, Dollywood's Q-bot or Avis Preferred to avoid standing in theme park or rental car lines?
Here's a combo deal on fast access: FLO, an airline security company, sells a $100 card that provides expedited stadium entrance at Washington Redskins' home games and speedy security screenings at selected airports.
Good health paysAn innovative South African health insurance company, Discovery, has a wellness program titled Vitality that offers points that result in travel and shopping discounts. You earn points for living a healthy lifestyle and decreasing risk factors for illness.
In subway stations throughout Manila, Nokia has installed mobile phone charging stations. There's no cost for the service that leaves Nokia customers "fully charged" to use their minutes.
All IKEA stories in Canada showcase the company's environmental consciousness by providing reserved parking for hybrid cars. This perk is also offered to visitors on Lipscomb University's campus.
Exclusivity is a time-tested way to deliver high levels of perceived value to customers. In a "perk partnership," American Express teamed with the creators of Bravo's Project Runway TV show.
American Express cardholders had exclusive rights to purchase the winning dress from the Sept. 3 episode. The frock came with a $650 price tag and some unusual bragging rights.
Some innovative hotels in the U.S. and elsewhere have set aside entire floors for female business travelers. An example is the Naumi in Singapore. In addition to the segregation, its Ladies' Floor offers in-room cosmetic and aromatherapy products in addition to an all-female staff.
So what guidance does "perkonomics" give to marketers? It tells marketers to understand the perks that can motivate top customers and prospects. Test fresh ideas for perks, and put the ones that work the best into practice. Your customers and your bottom line will thank you.
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