Best Buy launches loyalty scheme with FMI
The US-based technology and entertainment retailer, Best Buy, is to roll out its new loyalty programme, 'Reward Zone'. The nationwide programme, which uses the Loyalty Solutions Platform from Frequency Marketing Inc (FMI), follows a successful eight month pilot scheme in southern California last year.
Available in all of Best Buy's 550+ stores throughout the US, Reward Zone is open to any shopper aged 13 upward. After paying the programme's US$9.99 annual fee, members receive a membership card which they can present in-store to earn 100 reward points for each US$1 spent.
There is an initial 5,000 point enrolment bonus. Additionally, whenever a member's balance reaches 12,500 points, a US$5 award certificate, redeemable for any Best Buy purchase over US$10, is automatically issued. Members also earn bonus points for participating in programme activities, such as signing up for the programme's online newsletter, completing an opinion survey, or purchasing featured merchandise.
As a launch offer, Best Buy is also running a sweepstake until August 23rd, 2003, with daily prizes totalling US$25,000. Customers are awarded one sweepstake entry for enrolling in Reward Zone and one more for each transaction they make.
The platform FMI's role in Best Buy's loyalty programme is to provide the technology platform, technical services, print fulfilment, and ongoing programme support. The platform includes FMI's Loyalty Solutions Platform and MemberNet web interface. Print fulfilment services provided include member welcome kits, quarterly statements, and award certificates.
Although Best Buy still manages creative development and media buying through its existing vendors, it also runs member services using FMI's platform in its call centres. The MemberNet web site supports Best Buy's plans to offer programme members a number of benefits and privileges, including sweepstakes, previews of forthcoming music and films, computer and video game demonstrations, artist interviews, and product give-aways (for example, concert tickets, T-shirts, trips, and signed memorabilia).
"By better understanding customers down to the transaction level, Best Buy is in a stronger position to develop more targeted and relevant offers," said FMI's president, Kelvin Taylor.
For additional information: · Visit Best Buy at http://rewardzoneonline.bestbuy.com · Visit FMI at http://www.frequencymarketing.com