Looking for a new rewards program to help you business grow? You’re in the right place. Here we’re going to break down two giants in the industry with Kwik and ReCharge and compare the two to see how you can leverage both softwares to create a rewards program that generates more revenue in your business.
Generating sales has never been more challenging. Meta advertising is not what it used to be; there is more competition now than ever, and customers are looking to find new brands and products and are becoming less and less loyal. This makes choosing the right customer loyalty program a critical decision for businesses to generate more money and make the most out of the customers they’re paying good money to acquire.
This article breaks down the specific features of two key players in the customer-loyalty world: Kwik v.s. ReCharge.
We will also explore what it takes to create a good rewards and loyalty program that drives the results you want in your business and which software can help take you there.
Comparison Table:
Here is a quick comparison table:
| Features | Kwik | ReCharge |
|---|---|---|
| Program Types | – Increased Retention, Loyalty, repeat Purchases, and more!-Rewards Adoption, Customer Happiness- More value, Increased AOV, Increased Repeat Purchases- To generate any customer behavior that we want. – A Word-to-Mouth referral program with a Ripple Effect approach | – Subcription-based Model- Product Bunldes Model |
| Platforms | Available for all platforms including Shopify | Available for all platforms including Shopify |
| Customer Tracking | 1st Party Pixel Tracking, blockchain technology to track waves of referrals. | Offers high level customer tracking, but no Blockchain technology for Data Safety |
| Program Flexibility | Highly flexible with 5 program types and extensive customization | Limited advanced features and customization options |
| Approach | Customer Driven Sales (CDS) approach, focusing on customer retention | Emphasis on subscription based model, active churn recovery, and creating bundles based on customer purchasing behavior |
| Accessibility | Accessible via an all-in-one centralized dashboard (for all 5 programs) with easy navigation | Accessible via ReCharge software |
| Ease of Use | User-friendly approach with a strategic approach for faster results, easy integration | Easy to use |
| Management | Efficient management with a focus on strategic planning, offers automation | Efficient management with a focus on strategic planning, offers automation |
| Customer Engagement | Customer Driven Sales based model, emphasizes continuous engagement and the Ripple Effect for referrals | Bundles and flows are created based on customer purchasing behavior, but referral programs are missing |
| Customization | Extensive customization options for tailored loyalty and referral programs | Limited customization, particularly for larger or more complex programs |
| Reward Variety | Diverse reward options across multiple program types | Basic reward points with points, more focused on subscription-based vouchers or discounts |
| Brand Giveaways | Offers Giveaway Module for additional value and increased AOV | Limited features for fostering a genuine community |
| Customer Excitement | Utilizes the gamification based reward points, to enhance customer experience with offers based on customer purchasing behavior, keeps the recommendations seem exciting to customers (both old and new customers) | Lack excitement, no gamification as such for customers |
| Brand and influencer Programs | Both Available in Kwik | Only Brand based models |
| Community Tab | Features a community-building element to create a platform for loyal customers to interact with each other! | No community tab is available as such |
Pricing Comparison between both Customer Loyalty Companies
| Program Name | Subscription | Pricing |
| Kwik | Standard Tier | $250/month, provides complete access to cashback and loyalty apps, affiliate tracking, giveaways, and bonuses.
(Note: No commission is taken from the brands) |
| Premium Tier | At $500/month, this includes all standard features plus additional support and services. | |
| Revenue Share: | 3% share
I.e. features a 3% revenue share, aligning Kwik’s success with the program’s effectiveness and client’s growth |
|
| ReCharge | Standard | $99/month, 1.25% + 19¢ per transaction
For running subscriptions model for online store |
| Pro | $499/month, 1% + 19¢ per transaction
All the capabilities of Subscriptions with the added benefits of Flows and Bundles, plus advanced customizations |
|
| Custom | Built for large-scale merchants, the Custom plan allows to unlock all the capabilities of our Pro and Standard plans, plus enhanced support and flexible services. |
TL;DR Summary:
If you want to avoid sticking around for the full detailed article, now that you have seen these two go toe to toe with features, here is your short version.
ReCharge stands out as a good solution for fostering growth and retention, primarily focusing on integrating monthly customer subscriptions and promoting product bundles to boost sales. The emphasis lies in encouraging customers to make additional purchases during their visits to your store, using their idea of creating “flows” based on user-purchase behavior.
With the end goal of increasing LTV and hoping your customers stick around.
In contrast, Kwik offers a more comprehensive approach with our 5-module-based reward programs, aiming to build a community of loyal customers around your brand. We not only assist in creating incentives to drive more purchases, but the big emphasis is on having your customers actively contribute to the growth of your business by using word-of-mouth marketing. Which also ultimately increases your Customer Lifetime Value (LTV).
While ReCharge does a good job at boosting Average Order Value (AOV) and increasing customer spending with its subscription and bundles model. Kwik offers cash payouts, incentivized word-of-mouth marketing, customer referrals, cashback, giveaways, and bonuses and challenges—features that ReCharge lacks.
The 5-module approach, along with gamification of rewards, helps Kwik to amplify the value proposition significantly and allows brands to give more value to their customers, which generates more goodwill, which you could then use to get a repeat purchase and a customer referral.
ReCharge targets brands seeking recurring product/service businesses prioritizing subscription management, whereas Kwik targets brands seeking customized loyalty programs that boost sales.
Here is a great idea: utilize Kwik and ReCharge. By utilizing ReCharge for Bundles and Subscriptions alongside Kwik managing your rewards program with their customer-driven sales, you create a dynamic strategy that encourages customers to spend more and fosters long-term engagement and a sense of community as they share their positive experiences with friends.
What it Takes to Have a Successful Rewards Program:
Lots of companies try a rewards program. As a consumer, for a minute, how many places do you shop from? At least half have some form of a rewards program. How many do you sign up for? Only a few. This is true for most consumers. So, what does it take to create a successful one?
Quick note: we have helped generate over $6B in rewards programs for companies, and even in our own supplement business, we generated $1.6B. We know a thing or two about how to replicate this and make it happen.
Launching a successful rewards program involves understanding the key components that drive customer engagement and loyalty.
Let’s now see how a Winning Loyalty and Rewards Program is crafted:
1. Customer Value Perception:
The foundation of a successful program lies in understanding customers’ desires, preferences, and perceived value. Your program needs to constantly offer rewards that make customers FEEL they are receiving significant value, ultimately driving them to become loyal members of your rewards program.
A great example is if you gave every customer who shopped a Rolex, they would love it and become loyal to you. If you gave them a penny, they would be offended and never return to you again.
Knowing what kind of rewards they want and giving them something that feels valuable is the primary key.
2. Strategic Reward Selection and Software Integration:
Choosing rewards strategically based on customer preferences before selecting software is crucial for a successful loyalty and rewards program. Ensure that your chosen rewards align with how your unique brand functions and resonates with your customer base. Give your customers a sense that they are getting benefits on spending with the help of a variety of rewards to choose from, such as X rewards points on Y purchases, gift vouchers, Discounts, referral points, etc.
Many brands make the mistake of choosing a rewards software first, then creating it to “work” for their customers, to have it not WORK with them.
3. Integration into Customer Journey:
After seamlessly integrating your loyalty program into the customer journey, develop promotional content across various channels, such as pop-ups, landing pages, video content, and post-purchase marketing flows. Showcase points earned on product pages and leverage social media to communicate the benefits of your rewards program. Your loyalty program needs to reach out to your customers!
Clearly communicate the value proposition of your rewards program to customers. Ensure that both the program’s value and benefits are well-promoted, driving customer participation.
Many companies hope that just “installing a plugin” will automate and do everything for you. Currently, nothing on the market makes a turn-key rewards program that is awesome. Why do you think Starbucks spends hundreds of millions a year on staff and marketing to make their program a big success?
4. Monitoring and Optimization:
Treat your rewards program as an integral part of your product offering rather than an afterthought. Regularly monitor program performance by analyzing adoption rates and tracking key performance indicators (KPIs). These analytics are necessary to understand your customer behavior and, thus, optimize your loyalty program as needed.
Adoption Rate Optimization:
Strike a balance in adoption rates; not all customers should use the program to maximize its effectiveness. Monitor the adoption rate and adjust rewards to maintain a sweet spot that optimizes value without compromising program costs.
Referral and Share Rates:
Referral Strategy:
- Monitor the percentage of reward program customers who share with friends and the number of people they share with.
- Find the right balance between offering value and driving adoption.
- Consider leveraging your CAC (Customer Acquisition Cost) into referral rewards to enhance customer acquisition.
Launching a rewards program is not just about offering perks; it’s about creating an ecosystem where customers find undeniable value, leading to sustained engagement, loyalty, and a network effect through referrals. Regularly re-assess and adjust your strategy based on program performance to ensure its ongoing success.
So How Does ReCharge Tie Back Into Rewards Programs?
Recharge specializes in empowering e-commerce brands with comprehensive subscription management solutions. Its core strengths lie in recurring billing automation, dunning management, and in-depth data user behavior analysis, making it ideal for businesses operating subscription models. While its loyalty features are more basic, focusing primarily on subscription benefits and self-service portals, Recharge optimizes the subscription lifecycle and drives recurring revenue.
It offers flexible billing options, product bundling, secure transactions, churn reduction tools, a customer self-service portal, and data-driven insights to create a strategy and scale your sales. Recharge is a powerful engine for brands seeking to scale and optimize their subscription business, focusing on seamless payment processing, customer-centric features, and robust data analysis.
Then What Does Kwik Rewards Do?
With over 40+ years of industry expertise, Kwik brings complete integration of “Everything” that you need to run a successful rewards and loyalty program for your brands.
Kwik Rewards Program easily stands out when compared to ReCharge. Let’s see How!
While ReCharge only offers two models that are focused on increasing Average Order Value (AOV):
- Subscription-based
- Bundles-based
Kwik also Increases AOV through some of our reward modules, but the focus is getting your customers to share because of your rewards program. We use more types of rewards to accommodate any business.
- Loyalty: Increased Retention, Loyalty, repeat Purchases, and more!
- Cashback Module: Rewards Adoption, Customer Happiness
- Giveaway Module: More value, Increased AOV, Increased Repeat Purchases
- Bonus Module: to generate any customer behavior that we want.
- Customer Referrals: The Ripple Effect: It’s word-of-mouth marketing
More Kwik Reward Program Benefits
That’s how Kwik works; you get everything service integrated into one state-of-the-art software. Here are some benefits of choosing Kwik:
- Personalized rewards and experiences: Kwik caters to a broader range of customer motivations and preferences, ensuring your rewards program looks exciting and attractive.
- Customer-Centric Approach: We personalize rewards that align with individual interests and address customer apathy.
- Streamlined Rewards Architecture: Kwik has helped brands generate over 6+ billion dollars of revenue with our simplified rewards and loyalty programs. With the help of data analytics and our expertise in the industry, we design these unique plans in a way that drives the URGE in the customer to shop.
- Ripple Effect: With the proper rewards setup, think of each customer going into a post-purchase funnel, where the goal is to create a loyal customer sharing with their friend. If you can get all your customers in, they will share. You are generating word-of-mouth buzz. And if the referred customers are referring as well, you create a ripple effect of referrals, and Kwik is the ONLY company that does this, incentivizes it, and tracks it to show you how much of your business is coming from word of mouth.
- Advanced Analytics: Provides accurate impact measurement for informed decision-making. Kwik uses secure blockchain technology to collect customer purchase behavior data, ensuring everything remains intact.
- Both Brand and Influencer Model Programs: Kwik also offers services for both Brand and Influencer Model Programs.
- AND it’s cheaper: Kwik offers a lower monthly price because we want to make our money as you make yours. We understand the needs of emerging businesses. Thus, we have a plan for every brand, be it loyalty programs for small businesses or big Enterprises!
Ready to get your custom proposal for your brand? Our expert team will create a custom proposal unique to your brand! Get it here!
By incorporating five distinct reward modules, a seamless customer experience that seamlessly blends rewards with your product offerings, and the user-friendly Kwik Rewards App, Kwik presents a holistic and user-centric approach to rewards programs. This approach amplifies the value delivered to customers and simplifies the utilization and management of rewards, ensuring a more comprehensive and user-friendly rewards program.
How Does Kwik Help Create the Best Rewards Program?
Here are three factors that help Kwik to design the Best Rewards Program for your business:
A. Customer Driven Sales (CDS)
Kwik works with a “Customer Driven Sales (CDS)” approach, which includes creating a rewards program that ensures your brand grows through your customers organically. In other words, the whole customer retention and acquisition process is “Customer” oriented.
B. Ripple Effect
This is the unique part about Kwik that separates us from the competition. We create a new customer funnel after your existing customer funnel. This funnel is about getting the customer to join your rewards program, become a loyal customer, and share with their friend. With our 5-module approach, we can turn all your customers into walking marketers, and those they share with can also become walking marketers.
It’s the word-of-mouth holy grail you want, just incentivized and tracked as no other company can because of our five patents.
The Ripple Funnel works like this:
1. Customer Purchases the Product
This is what you’re already working for, and you have your funnel, but it’s the start of our funnel of creating customer-driven sales and creating you a loyal customer. In this step, you need to make sure you have some explainer about rewards in your purchasing funnel to make them aware of your rewards program.
2. Customer Joins the Rewards Program
Right after they purchase, we use an instant adoption phase to try to get this customer to register for the rewards program and get into the funnel. We use the purchasing rewards to incentivize this person to register. The more people we can get into your rewards program, the more people get into the funnel and the more loyal customers and brand ambassadors you get.
3. Customer Purchases Again
Now that they’re in the funnel and they have rewards. We try to get them to purchase again by tapping into the rewards they already have and get them to buy again using those rewards for a discount on their next purchase.
We could also utilize our giveaway or bonus module to give them more reasons to buy beyond a discount. They could be getting 10% off their purchase AND entries to a giveaway. The rewards program tracks all of that and automates this process.
4. Customer Shares with a Friend
Next is our real magic and golden egg here. Our program thrives on authentic recommendations from real people to other real people, creating a unique and genuine form of viral marketing.
We do this by making it easy for customers to share with friends within the Kwik Rewards App. Most referral processes are complex and challenging to use, and we wanted to make our app the Uber of link sharing.
The second piece is the unique links we create. We focus on customer connection and people’s connection with each other. Our referral links have a referral pop-up that shows who referred; they can upload content and add a message.
The last piece that makes all of this work is the unique rewards we attach to each unique share link. We want to reserve your best discount to your customers. We let your customers know that they get to give the best price; we allow double loyalty points, double cashback, double giveaway entries, and more rewards, all unique to your customers.
We easily display this in the referral pop-up so potential customers know all about the unique rewards they get because they came from their friends. This is critical when creating a good rewards program and getting your customers to hit that share button.
5. Tracked, Rewarded, and Incentivized.
Now that you have created the right incentives, customer flow, and marketing, you need to track it! You need to check how many people are going into the top of the funnel for you and how many are converting into brand ambassadors and have made a referral, and you adjust one of two things: the incentive or the marketing. If you have the right incentive, people will be motivated to do what you want them to do; that could be signing up for the program, purchasing again, or sharing with a friend. If you offer a Rolex to everyone who purchases, that’s a good enough incentive. The problem lies within your marketing.
Knowing your funnel metrics and tracking them is essential to making your program work.
6. Gamifying Your Rewards Programs:
Kwik’s Rewards Program injects an element of gamification into the customer experience, making interactions more exciting and enjoyable. By infusing game-like elements such as challenges, bonuses, and unique rewards, we transform the purchasing experience into an exciting journey for your customers- that’s full of rewards.
Kwik excels in crafting an all-encompassing rewards program featuring cashback, loyalty points, giveaway entries, bonuses, and referrals. The substantial value offered creates a perception of receiving abundant benefits “for free,” even though the program’s cost is seamlessly integrated.
This surplus value contributes to establishing “consumer surplus” or, more aptly, goodwill, cultivating loyal customers and driving customer referrals. The generated goodwill sets off a chain reaction of referrals, with Kwik holding patents to meticulously track and identify the key contributors to increased sales for your brand.
Conclusion
If you follow this framework, you can easily see what it takes to create a successful rewards program in a way that can completely change your business. Create organic growth for you and let your sales run on autopilot.
The reason for this article is the difference between ReCharge and Kwik. As you can see, they would work together to help you increase the average order value of your e-commerce store, increase the LTV of your company, decrease your CAC, and acquire new customers without putting up money upfront.
It’s a win-win!
With our 40+ years of expertise, we help companies like yours create a custom loyalty and rewards program that is ALWAYS going to work when you follow these steps, which are the steps we used to help generate over $6B in sales, including over $1.6B in our own supplement company!
If you’re ready to implement something that can transform your business and grow your sales organically, get a custom plan for your business today!
