While Velocity Frequent Flyer is remaining tight-lipped on how frequently points burn at BP’s across Australia is being accessed by its members, a recent report by FIS Global shows a similar option at BP in the USA is highly successful.
A recent pilot program across more than 7,000 BP gas (petrol) stations across the United States used new technology from FIS Premium Payback to allow members to redeem rewards points for real-time discounts. Members were able to redeem rewards points for 50 cents off each gallon of gas up to 20 gallons (seriously, when are the US going to move to the metric system?)
The results of the pilot showed outstanding engagement results:
- a 3% increase in use of BP by account holders who used their cards for gas.
- 18% of points redeemers said they chose BP because of the loyalty program.
- 56% of members said gas discounts were a better value than other redemption options
- 88% of redeemers said they would redeem points for gas discounts again
If these results are being replicated in Australia, it reiterates the strength of the Velocity-BP partnership which has also served to deliver a significant boost in new members for the program.
Philip Shelper is a specialist loyalty consultant based in Sydney, Australia who obsesses about everything to do with loyalty and rewards. His company Loyalty & Reward Co are a leading loyalty consulting firm.
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