The psychology of rewards programs: How Monetha can motivate consumer behavior
June 21, 2023
The basic psychology of rewards How do you get your dog to sit when you’re
Retain brand value
Build a strong brand image with a rewards-based loyalty program.
Trusted Shopify partner
Show the value of products, not discounts
Discounts are a powerful tool until you overdo them. Trying to sell a product by giving a discount moves the focus from the product itself to its reduced price. Ultimately, it creates a feeling of low-quality products and devaluates your brand.
Focus on the genuine value of your products instead and incentivize purchases with benefits that can't hurt your brand image—loyalty rewards.Secure your business from a discount spiral
Excessive discounting leads to a discount spiral. It's a situation when your customers won't buy unless you offer a discount. Over time, this discounting behavior can become a vicious cycle that reduces profit margins and erodes brand value.
To avoid the discount spiral, businesses should focus on creating a strong value proposition and building a loyal customer base that recognizes and values the quality and uniqueness of their products. Offering a loyalty program can all help to build brand value and reduce the need for frequent discounts.
More benefits for your business
Loyalty, rewards, and beyond
Improve business performance
Engage with your audience in-between purchases by giving them loyalty points for special occasions or any positive actions.
Affordable and easy-to-start
Build an effective loyalty program effortlessly and with any budget. Our support team is always around.
Accept loyalty points as a payment method
Let customers spend their loyalty points at your store to increase retention and brand loyalty.
Plan your sales
Customize, schedule, and track loyalty campaigns with the integrated campaign manager.
Manage stock and get rid of slow-moving products
Your loyalty program works as an inventory management tool. Give more rewards for products to create higher demand on them.
Reach a new audience
Get listed in the Monetha cashback app and showcase your products to thousands of new customers.
Customize the look of your rewards
Looks like your native loyalty program. Adjust texts and styles to customize it even further.
Cover costs with our Partner program
We will add ~$1 worth of points to your loyalty budget for every new customer joining Monetha from your loyalty program.
Learn more about loyalty
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