In a highly competitive retail environment, where the consumer is becoming more and more discerning, it is critical to maintain brand loyalty. Brand allegiance can be secured, which ultimately guarantees the original equipment manufacturer (OEM) incremental revenue streams. A customized private label prepaid card is an elegant, and effective tool that rewards buyer commitment, thereby ensuring complete share of wallet.
- As a reward for their purchase, and subsequent product registration, a consumer is sent a fully customized, private label prepaid card.
- The OEM branded, private label card contains inherent characteristics that will:
- Restrict end user utilization so loaded monies can only be spent in predetermined brick & mortar or online stores.
- All dollars associated with the loyalty program are funneled back to the OEM in subsequent purchases.
- Consumer utilizes private label card to justify the purchase of an item costing significantly more than the value of their prepaid card.
- The OEM immediately ties the reward with the initial purchase thereby ingratiating themselves with the consumer.
- Consumer feels empowered to immediately spend earned monies on another OEM product.
- Consumer recognizes who awarded them the card every time they make a purchase thereby strengthening the relationship with the OEM.
- A private label card levers the Visa/MasterCard infrastructure, so an investment in propriety networks is unnecessary.
- The OEM captures consumer profile data during the registration process.
Original Equipment Manufacturers will continue to look for unique ways to differentiate themselves from worthy competitors. A private label prepaid card can be an effective way to ensure the appropriate consumer devotion to their product lines.
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