Discount-based promotions may seem like an effective way to draw in new customers. But you’ll pay the price for any short-term upside with reduced margins or a cheaper brand image. Reward-based promotions like open or closed-loop prepaid cards, gift cards and eGifts are affordable ways to incentivise an initial purchase, while encouraging future loyalty. Reward your customers using a single repository that can build up value over time. This approach incentivises action beyond acquisition and converts new customers into loyal ones.

Read our report on next-generation promotions to update your acquisition and retention knowledge, and find out why UK companies are seeing a better return on their marketing spend by shifting the focus of their promotions.