Blackhawk Network is aiming to make redeeming rewards much faster for customers with its launch of On-the-Spot Rewards. The new offering, launched earlier this month, allows consumers to process a rebate and receive the associated rewards the same day they earned it.
The offering allows companies and contractors that enroll in Blackhawk to provide their customers with a physical open-loop reward card that can be redeemed for up to $1,000 (depending on the rebate amount). The offering is targeted particularly at in-home service providers, such as HVAC, whose technicians complete the sponsored rebate submission, inputting the customer information after completing an installation.
"Our new solution could be a game-changer for utility and service rebate promotions," Theresa McEndree, vice president of marketing for Blackhawk Network, told Incentive. "On-the-Spot Rewards allow consumers or service professionals to qualify for and submit a rebate, and receive a reward, on the same day."
She emphasized that this can reduce a consumer's rebate process "from weeks to minutes," not only making the process easier for the shopper, but likely increasing participation, customer satisfaction, and customer loyalty.
Additionally, the information that consumers provide during the rebate submission process can also be utilized by service providers in their customer data efforts. The mobile- and digital-enabled utility-sponsored rebates can save utility and service providers mailing costs, according to Blackhawk.
The offering grew out of a growing demand for "instant gratification," as McEndree puts it. Additionally, Blackhawk Network's "Where It's At: a Connected Shopper Study
" found that shoppers prefer a higher-value rebate versus other lower-value promotional offers.
"When it comes to rebates, that means submitting their rebate and receiving their reward more quickly," she said. "Currently, we can enable our clients to issue same-day utility-based incentives, and this promotional capability could transfer to other industries in the future."