REWARDS PROGRAMMES

Rewards programmes embracing cashback strategies to engage consumers

By our News Team | 2021

Yes, rewards programmes do open the door to cashbacks – but consumers still have to walk through it.

We are living in a time where ‘every bit counts’. The fact that Covid-19 will remain with us for some time yet also means that economic uncertainty will continue for the foreseeable future. 

Martech

Given this reality, many African consumers are looking to their rewards programmes to help them save and take advantage of the rewards on offer, particularly the immediate and practical gratification of cashbacks. 

The 2019/20 Truth & BrandMapp Loyalty Landscape Whitepaper noted that 72% of South Africans who were economically active, engaged with rewards programs. However, the same report also showed a gradual decline in usage over time, with a 7% fall from 2017 to 2020. 

Rewards programs motivate consumers by offering them benefits when they spend their money or practice certain behaviors. More importantly, they help them stretch their funds at a time when they need it the most. So, while consumers could benefit significantly from these savings, they are not taking full advantage of the rewards that these programs offer. 

Helping members make better life choices

Johan Kleu, Executive Head of Multiply, the rewards program run by insurance company Momentum, says its key focus is to reward members for healthy behaviors. 

“Our program is designed to help members make better life choices – and get rewarded for it. However, at the same time, there is a responsibility on the part of our members to engage with our programme to get the most out of it,” he explains. 

Knowing that the value of a rand in the wallet of every member has become more significant, Kleu says: “The truth is, cash has never been more king, which is why this kind of reward offering is so popular.” 

For this reason, rewards programs are continuously evolving their reward structures to reflect the needs of their members. Currently, this means cashback on groceries, health products, clothing, and even online entertainment platforms like Showmax – all highly-in-demand commodities in the age of a pandemic. 

Source: Momentum Multiply

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.