ATLANTA, December 5, 2016 /PRNewswire/ --
The new module enables members to purchase top-up miles/points, while saving the program up to 75% over traditional commission rates
Today, Loylogic has launched Buy Miles Plus, a new Akruu.com module, which offers more points to program members (through the ability to purchase top-up points/miles), facilitating earlier redemption: a significant factor in ensuring the highest possible member engagement and ROI for the program. The module also retains more revenue in the program, as it cuts traditional commission rates (paid on these transactions) by up to 75%; these funds can be reinvested in other engagement initiatives for members, which can also have a significant impact on member engagement rates. Loylogic developed the Buy Miles Plus module to further enhance the existing benefits of the Akruu platform, which offers members unparalleled flexibility in earning miles/points from participating loyalty programs.
What Makes Buy Miles Plus Different
The concept of topping up miles/points to enable members to achieve earlier redemption has always been a popular program feature, as members who redeem are significantly more loyal to a brand; unfortunately though, many program providers are hesitant to offer this feature because of the high commission rates charged on every transaction by solution providers. Akruu's Buy Miles Plus module charges a net 5% commission rate, as opposed to the industry standard between 15 and 20%; therefore, Akruu's highly competitive pricing structure enables programs to offer the feature that their members want, without breaking the bank.
The Economic Advantage
To determine how much money could be saved on commissions each year by using Akruu's Buy Miles Plus module, let's examine the case of a fictional loyalty program, which sold $10 million of top-up miles to its program members via a solution operated by a typical Buy Miles solution provider. At standard commission rates (of 20%), the program would have paid $2 million to the solution provider; however, if the program chose to use Buy Miles Plus (via Akruu), the program would have paid $500,000 (5% commission rate) on their members purchased top-up miles, enabling them to reinvest $1.5 million into improvements in the program.
Considering the large volumes of points and miles purchased every year by frequent travellers around the world, Akruu's Buy Miles Plus module could help save the airline and hospitality industry more than $40 million per year.
"For years, loyalty programs worldwide have been paying bloated commission rates to Buy Miles technology providers," said Dominic Hofer, CEO of Loylogic. "Our pricing model will address this common issue and help to drive substantially more money towards the loyalty programs. With this significant increase in profits, the programs will be able to develop new program functionality, offer additional choice and, ultimately, improve overall member engagement and program sales."
Buy Miles Plus and Akruu.com are now available for any companies looking for a way to improve their member engagement and overall loyalty program ROI. To find out more about Akruu and the "Buy Miles Plus" module, please visit http://www.akruu.com or contact us at firstname.lastname@example.org to arrange a complimentary demo.
To arrange a media interview to find out more about the new product or for a media demo, please contact Jennifer Sacco at email@example.com or +41 43 500 51 60.
Loylogic is the world's leading innovator and creator of points experiences, insights, commerce and engagement. By tantalizing members with more choices and arming programs with insights on behavior - anticipating both present and future needs - we deliver powerful solutions that amplify engagement and build loyalty. Founded in 2005 with offices around the world and a global content network of more than 500 merchants and 2,000 online stores offering millions products and services, Loylogic, the new paradigm of points-based e-commerce and e-payment solutions, is the partner that the world's leading loyalty programs trust with making their points and miles loved more. For more information please visit loylogic.com.
Akruu is an innovative online loyalty solution offering unparalleled earning flexibility and customization options to program members. Unlike other online loyalty solutions, Akruu offers numerous ways to earn in multiple program currencies (i.e., points or miles) within a single platform, making it the only solution that allows members to earn in the way that best suits their lifestyles and needs. As such, Akruu can significantly increase a program's member engagement, revenue and boost brand loyalty. To find out more, please visit http://www.akruu.com.