LOYALTY REWARD PROGRAM SIMULATORS

• US 20100191570A1
• Filed: 01/23/2009
• Published: 07/29/2010
• Est. Priority Date: 01/23/2009
• Status: Abandoned Application

• Current Assignee: Maritz Holdings Inc. (InMoment, Inc.)
• Original Assignee: Maritz Incorporated
• Inventors: Kallery, Jennifer Lynn, Adams, David Russell, Michaud, Joe Phillip, Chrzan, Keith
• Application Number:
  US12/358,719
• Publication Number:
  US 20100191570A1
• Time in Patent Office: Days
• US Class Current: 705/7.33
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0204 Market segmentation
• CPC Class Codes: G06Q 30/0211 Determining the effectiveness of discounts or incentives
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems

Abstract

A method of defining an earnings profile and a reward profile for loyalty reward program for a credit card issuer for a plurality of participants. A survey to gather data related to the loyalty reward program earning types and the loyalty reward types is defined and response data related to the survey is collected from the plurality of participants. One or more segments of participants are identified as a function of the collected data. The collected data is further analyzed to determine the reach, frequency, and overlap of the loyalty reward program earning types for the identified segments and to determine preference shares for participants within the segments. At least one of the defined loyalty reward program earning types of the loyalty reward program is selected for the earnings profile of the loyalty reward program based on the determined reach, frequency, and overlap of the loyalty reward program earning types viewed in a first user interface. At least one of the defined loyalty reward types is for the reward profile of the loyalty reward program selected based on the determined choice for identified segments viewed in a second user interface.

Claims

1. A method of defining an earnings profile for loyalty reward program for a plurality of participants, said method comprising:

defining a plurality of loyalty reward program earning types;

defining a survey to gather data related to the defined loyalty reward program earning types of the plurality of participant;

collecting response data from the plurality of participants related to the presented survey, said response data including loyalty reward program earning type preferences;

identifying one or more segments of participants are identified as a function of the collected data wherein each identified segment of participants includes participants associated with the a subset of the loyalty reward program earning types and wherein each of the identified segment of participants includes a similar loyalty reward program earning type preferences;

analyzing the collected loyalty reward program earning type preferences to determine a reach, frequency, and overlap of the loyalty reward program earning types for the identified segment;

rendering a user interface indicating the determined reach, frequency, and overlap of the loyalty reward program earning types for the identified segments based on the analyzed loyalty reward program earning type preferences; and

selecting at least one of the defined loyalty reward program earning types based on the determined reach, frequency, and overlap of the loyalty reward program earning types for identified segments for the earnings profile of the loyalty reward program.

2. The method of claim 1, wherein the survey includes Q-sort formatted questions for gathering data related to the defined loyalty reward program earning types.

3. The method of claim 1, wherein cluster analysis is conducted on the collected loyalty reward program earning type preferences to identify the segments of participants.

4. The method of claim 1, wherein TURF (Total Unduplicated Reach &

Frequency) analysis is conducted on the collected loyalty reward program earning type preferences to determine the reach, frequency, and overlap of the loyalty reward program earning types for the identified segments.

5. The method of claim 1, wherein the defined loyalty reward program earning types include one or more of the following:

Bonus points for every $100 spent, bonus points for purchases at selected merchants;

discounts on selected purchases, accelerated point earning opportunities at specified ‘

points earned’

levels, added benefits or special services at specified ‘

points earned’

levels, special benefits or upgrades, earning points for suggesting ideas to loyalty reward program owner, bonus points at specified ‘

points earned’

levels, special point of sale/purchase offers customized for each of the plurality of participants, bonus points for redeeming promotional merchandise, earning points for visiting the rewards program website.

6. The method of claim 1, wherein the survey includes one or more of the following:

loyalty reward program knowledge questions, loyalty reward program usage questions, loyalty reward program attitudinal questions, communication preference questions, and demographic questions.

7. The method of claim 1, further comprising:

offering the loyalty reward program including the earnings profile comprising the selected, defined loyalty reward program earning types to a plurality of customers.

18. The method of claim 1, wherein TURF (Total Unduplicated Reach &

Frequency) analysis is conducted on the collected loyalty reward program earning type preferences to determine the reach, frequency, and overlap of the loyalty reward program earning types for the identified segments.

8. A method of defining a reward profile for loyalty reward program for a plurality of participants, said method comprising:

defining a plurality of loyalty reward types of the loyalty reward program;

defining a survey to gather data related to the defined loyalty reward types of the plurality of participants;

collecting response data from the plurality of participants related to the presented survey, said response data including loyalty reward type preferences;

identifying one or more segments of participants as a function of the collected data wherein each identified segment of participants includes participants associated with the a subset of the loyalty reward types and wherein each identified segment of participants includes similar loyalty reward type preferences;

analyzing the collected loyalty reward type preferences to determine a preference share for each of the plurality of participants for each of the plurality of loyalty reward types;

rendering a user interface indicating a choice of loyalty reward type for the identified segments based on the determined preference shares of the participants within the segment; and

selecting at least one of the defined loyalty reward types based on the viewed determined choice for identified segments for the reward profile of the loyalty reward program.

9. The method of claim 8, wherein the survey includes Q-sort formatted questions for gathering data related to the defined loyalty reward types.

10. The method of claim 8, wherein cluster analysis is conducted on the collected loyalty reward type preferences to identify the segments of participants.

11. The method of claim 8, wherein the analyzing further comprises:

modeling the collected loyalty reward type preferences utilizing multinomial logit to produce utilities;

scaling the produced utilities to determined the preference shares of each of the plurality of participants.

12. The method of claim 8, wherein the defined loyalty reward types include one or more of the following:

Electronics, house wares, luggage, travel, Gift Card, and cash.

13. The method of claim 8, wherein the survey includes one or more of the following:

loyalty reward program knowledge questions, loyalty reward program usage questions, loyalty reward program attitudinal questions, communication preference questions, and demographic questions.

14. The method of claim 8, further comprising:

offering the loyalty reward program including the reward profile comprising the selected, defined loyalty reward types to a plurality of customers.

15. A method of defining an earnings profile and a reward profile for loyalty reward program for a credit card issuer for a plurality of participants, said method comprising:

defining a plurality of loyalty reward program earning types;

defining a plurality of loyalty reward types of the loyalty reward program;

defining a survey to gather data related to the defined loyalty reward program earning types and the defined loyalty reward types of the plurality of participants;

collecting response data from the plurality of participants related to the survey, said response data including loyalty reward program earning type preferences and loyalty reward type preferences;

identifying one or more segments of participants as a function of the collected data wherein each identified segment of participants includes participants associated with the a subset of the loyalty reward program earning types or a subset of the loyalty reward types, and wherein each identified segment of participants includes a similar loyalty reward program earning type preferences or wherein each identified segment of participants includes similar loyalty reward type preferences;

analyzing the collected loyalty reward program earning type preferences to determine a reach, frequency, and overlap of the loyalty reward program earning types for the identified segments;

analyzing the collected loyalty reward type preferences to determine a preference share for each of the plurality of participants for each of the plurality of loyalty reward types;

rendering a first user interface indicating the determined reach, frequency, and overlap of the loyalty reward program earning types for the identified segments based on the analyzed loyalty reward program earning type preferences;

rendering a second user interface indicating a choice of loyalty reward type for the identified segments based on the determined preference shares of the participants within the segment;

selecting at least one of the defined loyalty reward program earning types based on the determined reach, frequency, and overlap of the loyalty reward program earning types for identified segments for the earnings profile of the loyalty reward program; and

selecting at least one of the defined loyalty reward types based on the viewed determined choice for identified segments for the reward profile of the loyalty reward program.

16. The method of claim 15, wherein the survey includes Q-sort formatted questions for gathering data related to the defined loyalty reward program earning types.

17. The method of claim 15, wherein cluster analysis is conducted on the collected response data to identify the segments of participants.

19. The method of claim 15, wherein the survey includes one or more of the following:

loyalty reward program knowledge questions, loyalty reward program usage questions, loyalty reward program attitudinal questions, communication preference questions, and demographic questions.

20. The method of claim 15, wherein the analyzing the collected loyalty reward type preferences further comprises:

modeling the collected loyalty reward type preferences utilizing multinomial logit to produce utilities;

scaling the produced utilities to determine the preference shares of each of the plurality of participants.

21. A computerized system of defining an earnings profile and a reward profile for loyalty reward program for a credit card issuer for a plurality of participants, said system for use with:

a plurality of loyalty reward program earning types;

a plurality of loyalty reward types of the loyalty reward program;

a survey to gather data related to the defined loyalty reward program earning types and the defined loyalty reward types of the plurality of participants;

response data collected from the plurality of participants related to the survey, said response data including loyalty reward program earning type preferences and loyalty reward type preferences;

said system comprising computer executable instructions stored on a computer readable media including;

instructions for identifying one or more segments of participants as a function of the collected data wherein each identified segment of participants includes participants associated with the a subset of the loyalty reward program earning types or a subset of the loyalty reward types, and wherein each identified segment of participants includes a similar loyalty reward program earning type preferences or wherein each identified segment of participants includes similar loyalty reward type preferences;

instructions for analyzing the collected loyalty reward program earning type preferences to determine the reach, frequency, and overlap of the loyalty reward program earning types for the identified segments;

instructions for analyzing the collected loyalty reward type preferences to determine the preference share for each of the plurality of participants for each of the plurality of loyalty reward types;

instructions for rendering a first user interface indicating the reach, frequency, and overlap of the loyalty reward program earning types for the identified segments based on the analyzed loyalty reward program earning type preferences;

instructions for rendering a second user interface indicating the choice of loyalty reward type for the identified segments based on the determined preference shares of the participants within the segment;

instructions for selecting at least one loyalty reward program earning type based on the viewed reach, frequency, and overlap of the loyalty reward program earning types for identified segments for the earnings profile of the loyalty reward program; and

instructions for selecting at least one loyalty reward type based on the viewed determined choice for identified segments for the reward profile of the loyalty reward program.

22. The system of claim 21, further comprising:

instructions for offering the loyalty reward program including the loyalty reward program including the reward profile comprising the selected, defined loyalty reward types to a plurality of customers and the earnings profile comprising the selected, defined loyalty reward program earning types to a plurality of customers.