New Canadian coalition uses stored value loyalty cards
The Canadian relationship marketing company DCR Strategies Inc. is to launch a stored value card-based coalition loyalty programme based on TruCa$h, for which the company is an authorised licensee.
The TruCa$h programme has taken as its basis the coalition loyalty model, which allows consumers to earn points with multiple retail partners, and has an additional "easy redemption" feature through which cardholders can convert their points to cash online and then, using their same loyalty card, they can withdraw cash at any ATM or make payments through any standard POS terminal worldwide. In addition to cash redemptions, TruCa$h offers customers a range of aspirational rewards, such as gift certificates and travel rewards.
According to Diana Fletcher, president for DCR Strategies, "Our main goal was to resolve the two things that consumers dislike the most about current loyalty programmes: specifically, cumbersome redemption processes and a limited number of redemption options. TruCa$h allows consumers to redeem for whatever they want, whenever they want, and wherever they want."
Multi-application card Due to its stored value component, the TruCa$h programme can also be used as an allowance card for teens, a domestic and international money transfer card, a payroll card, and a re-loadable gift card. Fletcher commented: "Just being a loyalty card is no longer an option in today's marketplace. Consumers and businesses alike want additional features on a card if it is to occupy valuable wallet space - and take up marketing dollars."
For the programme's many retail partners, TruCa$h co-brands the cards and marketing materials to help them build on their own brand equity, rather than being tied purely to the coalition's identity. As Fletcher points out, "Partners want the lift and acquisition associated with a coalition programme, and the brand building associated with privately branded loyalty programmes."
Partners and opportunities The programme is now actively seeking new retail and business partners, although DCR is in the process of signing contracts with a number of organisations totalling over two million members. That kind of membership base would certainly give the programme a competitive profile as a national loyalty coalition.