Almost three-quarters of Russians use loyalty programs, but only 21% get the most out of them. The fact is that the mechanisms of accumulating and deducting points are still not fully understood, and people still rely more on cashback in rubles. How to get the most out of bonus programs, Anna Lapada, marketing manager of the Orange service, told socialbites.ca.
“Most Russians prefer a minimum cashback instead of an increased bonus cashback. At the same time, banks today offer less and less cashback in rubles, and partnerships with merchants and service providers are moving into the ecosystem sphere. That is, cashback now mostly comes in points, which are most profitable to spend in partner companies,” he explained.
At first glance, this limits the user’s choice. But as practice shows, points and bonuses can bring more benefits. You just need to know how to manage them.
“A few years ago, points could be spent only for part of the purchase in a particular store, now everything is different. Almost everyone has a bank card, and each card has a loyalty program. Banks, in turn, cooperate with third-party companies, creating entire ecosystems and multiple services. So, when paying by card, the user receives cashback bonuses, and these bonuses can be spent on anything at any bank partner,” the expert said.
For example, a person pays with a bank card at a grocery store and receives cashback points. They can spend them not only on the same products, but also, for example, to pay for mobile communications or even to buy health insurance. Or you can earn miles on purchases and write them off to expenses at partner airlines: tickets, baggage claims, hotel reservations, etc. There are also services that have the ability to spend points within their own ecosystem: you get cashback for a taxi ride, pay for services at a gas station, or order from a delivery service – and vice versa.
“Thus, loyalty programs with increased cashback points allow you to optimize your budget and get additional benefits. You can benefit from different services at the same time for maximum profit,” he added.
Some loyalty programs allow you to pay for almost all major purchases with points. This is investing in miniature. You buy something, you get bonuses, but you don’t write them off. And when you collect the required number of points, you place your order.
“Of course, there are some nuances here. First of all, it is important to identify the main sources of earning points and use them. That is, see which merchants will give you the maximum cashback for purchases and use their services. Secondly, you need to keep track of how long the points are valid after they are given. If they are not used for a long time, they can burn out; it is important to know the conditions in advance,” Lapada advised.
If you do not plan to make large purchases, cashback bonuses will help you take advantage of the benefits right now. It is important to study the range of services that give you maximum points for interacting with them and the services where it is most profitable to spend.
“It is also useful to monitor promotions in the bank’s app or loyalty program: there are often increased cashback on certain products on certain days of the week or during discounted hours. This approach involves planning purchases, but its benefits are greater,” the expert advised.
The benefits can be multiplied if you save and use not only on card purchases, but also in stores. For example, some grocery chains allow you to choose “favorite products” or partner offers that earn you additional cashback.
The expert also shared a few life hacks that will help you earn more cashback points.
“Be conscious of your purchases. Research your most frequent or largest expenses and see which stores rate them. Carefully examine discounts and offers on your favorite products. Don’t forget to check cashback banking services: here you can track the number of bonuses, new promotions and partner offers. Understand the loyalty programs of your favorite stores. For example, check if you can increase your cashback percentage by connecting to partner services. Use multiple bank cards for certain expenses: this will allow you to divide expenses wisely and take advantage of different promotions,” concluded Lapada.
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Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.