10 customer rewards software in 2024

Frederick F. Reichheld and W. Earl Sasser, Jr. documented in “Quality Comes to Services¹,” that rewards can build customer loyalty, and most companies appreciate the value of loyalty. However, rewards programs are often misapplied and misinterpreted. A reward program goes beyond the boundaries of promotional devices. It is about creating value, a sense of entitlement, and generating loyalty.  

Let's take Bain & Company's study² as an example which showed how up to 80% of the customers who report being satisfied with a company do not make repeat purchases from that company in the future. All it takes is a properly aligned rewards and loyalty program to be placed to make those customers continue doing business with them. 

For years, loyalty programs have relied on a simple formula: spend money, earn points, and redeem for rewards. Recent Harvard Business Review research³ sheds light on the complex relationship between rewards and loyalty. They reveal the shortcomings of the one-size-fits-all approach, when it comes to reward programs, stressing the need to install advanced rewards customer rewards software. 

Their market research revealed that all customers are not created equal and that companies should give their best value to their best customers. Rewards should be designed to build loyalty, not just to give something for nothing, and how it should be linked to desired behaviors and should not create a sense of entitlement. 

Take American Express Company's experience with its Membership Miles program. It was launched to get ahead of the industry competition. The program was not fully aligned with Amex's loyalty vision of capturing 100% of customer card spending.  

However, the organization struggled to balance program costs with strategic objectives. They viewed the rewards as an expense rather than a revenue generator. After learning of their mistakes, they shifted their focus from being a cost center to a profit center and tied the rewards program to desired behaviors.  

They relied on innovative tools beyond traditional financial metrics to measure loyalty program effectiveness. The true impact on behavior and profit became clear only when Amex started tracking metrics like increased customer retention, product upgrades, cross-selling, and customer acquisition using these tools.  

This shift helped Amex not only optimize the program by incentivizing profitable behaviors like referrals but also discourage unprofitable actions such as customer attrition. Amex cracked the code to success and keeps shifting its strategies according to the recent trends in the reward program to keep its services relevant to the customers.

As a result, American Express allocated $15.367 billion for card member rewards in 2023, representing a significant increase from the $14 billion allocated in 2022. The company's revenue drastically increased 32%⁴. If aligning the rewards program strategy with consumer behavior could not only boost customer loyalty but also increase revenue for Amex, imagine what a good customer rewards software could do for you. 

With the right tools, you can create a program that keeps your customers coming back for more. Therefore, to help you out, we've compiled a list of the best customer reward software options to check out in 2024. 

What is customer rewards software? 

Customer rewards software is a solution that allows businesses of all sizes to create and manage customer loyalty programs efficiently by providing tools for setting up earning rules, rewards, and program tiers, and tracking program performance through analytics.  

Keeping what HBR revealed that "Customers prefer rewards programs with cash value, relevance, choice, aspirational value, and convenience," it is necessary for such platforms to have key features such as flexible API, scalability, inclusive customer touchpoints interfaces, flexible program limits, customization possibilities, and tracking and analytics. If customer rewards software is placed into the system, it can help your overall business.  

Now that we have quantified the value of customer rewards and how they impact customer loyalty, let us cover what types of businesses require customer rewards software.  

What type of businesses need customer rewards software? 

Customer rewards software isn't a requirement, but a necessity for most enterprises, and SMBs across verticals to streamline as well as enhance customer loyalty. Rewards, if used right, according to HBR's industry analysis, can easily breed into loyalty. The analysis revealed that: 

• All customers are not made the same, and their needs, and wants are different as well. One must deliver what the consumer wants, championing the matter of hyper-personalization.  
• A loyalty program should be designed to share value with customers while keeping it in proportion to the value they create for the company. A business cannot benefit from a 'chronic switcher'. 
• The reward program should be in line with the company's capabilities, and strategy. If restructuring the reward program is what's needed to scale, then that is what should be done. Like Amex. American Expressed restructured its rewards program to create new customer habits and provide stronger incentives for its most profitable customers. 
• A company needs to create value through partnerships and networks that offer a range of rewards and incentives, similar to GM Products and Household Finance. 
• A loyalty program is a long-term strategy that requires a sustained effort to build and maintain customer loyalty. According to HBR, "The full potential of value sharing through rewards is realized only when customers become sustainably loyal."

So, keeping these points in mind, any company can turn rewards into loyalty. Customer rewards software can build stronger customer relationships, leading to more sales and a more stable business. Companies can incentivize repeat business and build stronger customer relationships by offering points, discounts, or other perks. As for which businesses can benefit, almost any industry with a customer base can leverage rewards programs. Here are a few examples: 

• Retail: Stores can use this software to implement programs that reward customers for their purchases. Examples include awarding points, offering exclusive discounts to members, or providing early access to sales.
• Restaurants: This software can create loyalty programs with rewards like free meals or birthday treats to encourage customers to return more frequently.
• Travel: Airlines and hotels can incentivize bookings by offering rewards programs where points can be redeemed for flights, stays, or upgrades.
• Financial Services (Banking): This software can be used to design programs that reward customers for using their financial products or services.
• Hospitality: Hotels and resorts can leverage customer rewards software to create programs that incentivize repeat stays or encourage customers to spend more on amenities.
• Insurance: Loyalty programs can be implemented using this software to reward policyholders for on-time payments or for referring new customers.
• Fast-Moving Consumer Goods (FMCG): Companies that sell everyday consumer products can use customer rewards software to encourage brand loyalty and repeat purchases. This can be achieved through points programs or exclusive offers for members.

Now that we have covered the industries that can get customer rewards software, let's dive into some of the top software options available in 2024. 

Top 10 customer rewards software to look out for in 2024: 

Following is the list of 10 customer rewards software that you need to give a try in 2024.

1. Giift LBMS 

Understanding that one-size-fits-all doesn't work in loyalty and reward management, Giift came up with a SaaS-based solution for brands across verticals to build a scaling loyalty program, keeping rewards, gift cards, experiences, and many perks at the center. Giift LBMS allows its users to customize the loyalty program, define rules of the reward accrual, integrate tiered levels into the program, and much more. 

In addition to this, it holds the ability to give you access to the world's largest reward marketplace through the integration of Giift Marketplace. So, going through a vast catalog containing over 10 million rewards, 1 million merchants across the globe, 100,000 experiences, and more than 10,000 branded gift cards to create a personalized rewarding journey will become easier. 

Key features: 

• Make an engaging customer loyalty program with a customizable loyalty engine. 
• Run personalized multichannel marketing campaigns using templates that can be customized as well. 
• Multi-currency and multi-region capabilities that allow businesses to manage loyalty programs across multiple countries and currencies. 
• API-centric infrastructure designed to integrate with your CRM, transaction systems, and marketing tools seamlessly.

Pricing: Customizable. Contact Giift to know your quote. 

G2 rating: 4.2/ 5 

Free trial: Not available. 

2. Xoxoday 

Xoxoday is a lucrative platform that enhances customer engagement through personalized rewarding options. It offers three methods of reward distribution: Xoxo points, Xoxo links, and Xoxo codes.

The software provides a scalable platform with gamified loyalty programs, rule-based rewards, and a global rewards catalog that allows customers to redeem rewards in their local currency. The platform offers a variety of gift options, with a catalog of over 30,000+ items across 26+ categories, including gift cards, experiences, and merchandise.

Key features: 

• Personalized storefront design for audience engagement.
• Efficient reward scheduling and dispatch.
• The multilingual, multicurrency global rewards catalog.
• Detailed reporting and dashboard for program success monitoring.
• Self-served platform with quick setup and easy navigation.
• 24/7 support with quick response time.
• High certification standards for compliance reduction.
• Ability to go beyond geographical limitations without conversion hassles.

Pricing: $299 per month 

G2 rating: 4.4/5 

Free trial: Available.

3. Ascenda

Ascenda Loyalty has a comprehensive reward infrastructure tailored to launch premium reward programs. It allows fintech and financial services to tailor end-to-end reward programs with stellar features. 

Key features:

• Get a complete rewards infrastructure that includes rewards design, implementation, and management. 
• Get a variety of rewards that can be tailored to meet the specific needs of each client. 
• Availability of optional single-sign-on.
• Avail of core points ledger and accrual engine .
• Have exposure to zero-integration deployment option.

Pricing: Contact Ascenda Loyalty. 

G2 rating: NA 

Free trial: Unavailable. 

4. Loyalty Rewardz 

Loyalty Rewardz is a rewards and loyalty platform to help businesses build and manage effective customer loyalty programs. It comes with a user-friendly interface. What's more exciting is that it operates on a restful architecture that assures scalable performance through and through.  

Key features:

• The platform supports various payment methods. 
• Loyalty Rewardz' architecture is designed to be stateless, independent, and pluggable. 
• Give varying rewards for different tiers to incentivize customers. 

Pricing: Contact Loyalty Rewardz to get a quote. 

G2 rating: NA 

Free trial: Unavailable.

5. Antavo 

Antavo is a no-code platform that helps manage loyalty and reward distribution among customers easily. What's unique about Antavo is that it provides mobile passes as digital loyalty cards. The mobile-friendly software has a quick time-to-market with easy-to-understand APIs that create a seamless mobile experience. 

Key feature:

• Get a wide range of multi-brand, omnichannel, and multi-country capabilities through Antavo.  
• Handle large volumes of customer data. 
• It has API-centric technology. 
• You can create the UX that is the best fit for your customer. 
• It fits right with the existing marketing stack. 

Pricing: €1,500/ A month 

G2 rating: 4.5/ 5 

Free trial: Unavailable. 

6. Comarch 

If you are looking to create a stellar customer experience, influence consumer behavior, and analyze the member data using just one tool, then Comarch should be your go-to. One unique feature of Comarch is that it is an AI-integrated software that powers its ability to manage loyalty programs. 

Key features:

• The software comes with easy-to-use features.  
• It offers round-the-clock support in local languages. 
• Set up and manage various marketing campaigns, including promotions, discounts, and product giveaways. 
• Personalize the customer experience to deliver experiences to customers across multiple touchpoints.

Pricing: Unavailable. Get in touch with Comarch to get a quote. 

G2 rating: 4.1/ 5 

Free trial: Unavailable.

7. Rewards360 

Reward360 is another installation on our listicle that helps businesses create customized rewards programs to connect with customers and employees. The software focuses on giving data-driven insights and personalized experiences. Whether you want to upsell, cross-sell, or create brand advocates, Rewards360's robust features can easily help you accomplish any marketing endeavor.

Key features: 

• Get predictive insights and simulation tools to optimize campaigns and improve loyalty strategies. 
• Use smart customer segmentation and campaign personalization. 
• Enjoy dedicated support from the service team to ensure seamless platform management and data security. 
• Launch smart campaigns.

Pricing: Unavailable. Contact Rewards360 to get a quote. 

G2 rating: NA 

Free trial: Unavailable.

8. Talon.one 

Talon.one is a powerful customer advocacy engine that holds the capacity to build and manage highly customized loyalty programs. It has a user-friendly interface and robust features that make managing campaigns easy. You can distribute track discounts, and coupons, during any referral as well as loyalty programs via Talon.one.

Key features: 

• Customize the loyalty programs based on any customer profile or session data, business attributes, time, location, and more. 
• Get support for any worldwide currency, virtual currency, stamp, or point system. 
• Get cross-brand compatibility to allow customers to earn and redeem rewards across multiple brands. 
• Integrate with popular business intelligence and SKU data to track customer behavior and optimize campaigns.

Pricing: €1,500/ A month 

G2 ratings: 4.6/ 5 

Free trial: Available.

9. Perx 

The Perx is a comprehensive customer engagement and loyalty solution designed to help businesses maximize value as it creates a rewarding digital experience. 

Key features: 

• Perx leverages gamification to drive positive customer behavior. 
• The platform seamlessly integrates with various tools, including CRM, CDP, and CEPs, to provide a unified view of customer data. 
• Automate marketing efforts to streamline processes and enhance customer interactions. 
• The platform provides detailed analytics to help businesses track performance. 

Pricing: Unavailable. 

G2 rating: 4/ 5 

Free trial: Unavailable.

10. Annex Cloud 

Annex Cloud is a robust solution with extensive features to help businesses deliver personalized and rewarding customer experiences. It allows incentivizing referrals and encourages customers to advocate for the brand on social media. Moreover, the platform ensures that customers receive a rewarding loyalty experience today and tomorrow through its continuous innovations.

Key features: 

• Get exposed to quick and easy deployment, reconfiguration, and updates without requiring any recoding or development. 
• Have a collection of unlimited zero- and first-party attributes with consent, advanced segmentation, and personalized experiences. 
• Access various tools for retaining customers, including gamification, action series, customizable omnichannel experiences, exclusivity, tiers, paid rewards, and more.

Pricing: $15,000/ A year. 

G2 rating: 4.2/ 5 

Free trial: Unavailable. 

Conclusion

Choosing the right customer rewards software is an investment in your business's future. These tools empower you to design and manage programs that keep your customers coming back. By choosing any one of the top 10 customer rewards software, you can cultivate strong customer relationships that fuel your business growth. 

Citations

1. Reichheld, F. F. (2014, August 1). Zero defections: quality comes to services. Harvard Business Review. https://hbr.org/1990/09/zero-defections-quality-comes-to-services 

2. Bain & Company, Inc. & Mainspring. (1999). The Value of Online Customer Loyalty And how you can capture it. In Strategy Brief [Strategy Brief]. https://media.bain.com/Images/Value_online_customer_loyalty_you_capture.pdf 

3. O’Brien, L. (2014, August 1). Do rewards really create loyalty? Harvard Business Review. https://hbr.org/1995/05/do-rewards-really-create-loyalty 

4. Lee, J. (2023, January 27). Here’s the real reason why American Express gives out such big rewards. CNBC. https://www.cnbc.com/2023/01/27/heres-the-real-reason-why-american-express-gives-out-such-big-rewards.html