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How Housing Associations can Change Resident Behaviour and Recognise Loyalty

As a housing association, providing a fantastic resident experience is one of your top priorities. After all, the residents are at the heart of what you do! Not just when face-to-face but also with the digital service you offer.

A good resident experience is about establishing good quality relationships, and those relationships are driven by trust. This trust will encourage your residents to feel more comfortable and confident in managing their homes with you. Your residents are then no longer just your customers but become trusted partners in looking after the housing and neighbourhood assets.

Recognising these trusted and loyal partners will help you strengthen the relationships and take your resident experience to the next level.

What do you consider a “loyal resident”?

Before we jump into how to change behaviour and recognise loyal residents, you need to take a step back and think – what do you actually consider a “loyal resident”? What behaviours do they display that makes them committed to your brand?

  • Do they pay their bills on time?
  • Do they rave about your brand to friends and family?
  • Do they support their community?
  • Do they utilise your digital services?

These behaviours are the things you want your residents to do and therefore, by identifying them, you can create your perfect and loyal avatar.

Research from Wirecard shows that when customers are not only recognised for their loyalty but also rewarded, it encourages them to repeat these behaviours again, again and again! Think of it like Tesco Clubcard. You earn points for shopping with them. When you earn enough points you can claim money off vouchers or transfer your points to experiences such as a nice meal out, encouraging you to keep coming back to Tesco to earn even more points and be rewarded again!

Now you’ve identified the resident behaviours you want to see, you need to think about how to recognise and reward this loyalty and encourage other residents to demonstrate these behaviours and become more loyal too. 

How do you recognise and reward loyal residents?

More than 90% of companies have some sort of loyalty programme. This shows that the majority of businesses want to invest in and reward their loyal customers. And they have every reason to do so! Acquiring a new customer can cost five times more than retaining an existing customer.

So you’ve figured out the behaviours you want to see more of, but what reward do you offer in return?

One of the biggest questions we hear when it comes to offering rewards is what should the reward be? Should you offer cash or non-cash? Whilst cash is always a welcome addition to the monthly income, it is really that memorable? Non-cash rewards are more personal and will always be associated with their loyalty to your business. Check out this blog and find out the pros and cons of each reward type in question 1.

With the Incentivesmart platform, you can allocate your residents with points as and when you like, based on different behaviours you want to see. For example, if a resident pays their bills on time for 3 months in a row, then you could show your appreciation by awarding them points. Or if a resident regularly completes your customer service survey you could say thanks with points.

The resident can watch their point balance grow and when they have enough points, they can redeem them on their desired reward. The reward catalogue has hundreds of products and experiences to choose from, so there’s something perfect for everyone!

How can you encourage other residents to become loyal?

Recognising and rewarding loyalty will help change the behaviour of other residents. If they know they’re getting something in return, they’ll be more motivated to display that behaviour. In fact, 75% of consumers say they favour companies that offer rewards.

By promoting your new loyalty programme, your residents will want to know how they can get their hands on some exciting rewards and start displaying the behaviours to do so. Once they start seeing their points balance grow, they will feel motivated to keep earning points by displaying the desired behaviours.

Don’t just take our word for it though! Stonewater recently partnered with us to launch a new reward programme for their residents and have seen fantastic engagement already. Within the first 2 months of launch, they welcomed a 51% increase to their portal. Learn everything you need to know about launching a resident reward programme here.

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