Luxury rewards programme Legacy Lifestyle has announced that it is now enriching the lives of more than 700,000 members, and there seems to be no stopping the company as its growth trajectory continues to outstrip all expectations.
Founded a mere six years ago, Legacy Lifestyle has more than 200 Lifestyle partners in South Africa alone and with its recent expansion into Zimbabwe, and planned expansion into Ghana, Namibia and Nigeria in 2017, the company is well on its way to being one of the pervasive rewards programmes on the continent.
“Our exponential growth shows that our members and retail partners really do see the value in being a part of our programme,” says Michael Levinsohn, managing director of Legacy Lifestyle. “A large part of our success can be attributed to the simplicity and transparency of our business model.
“We don’t have points or virtual currencies. As our members spend at one retail partner, they accumulate rewards, which they can then redeem at any of the other partners on the programme. The percentage that can be earned varies between 2% and 10%, depending on the type of partner, so the value created for our members is significant,” adds Levinsohn,
But is there a catch? In short, no. The Legacy Lifestyle rewards programme delivers exactly what is advertised. Cash back rewards to members, which they can spend at the retailer of their choice. Membership of the programme is free and joining takes less than two minutes, either online or via the Legacy Lifestyle app. Furthermore, with no confusing conversion rates, members know exactly what the balance is in their accounts and how much is available to be spent.
Because the programme leverages the collective buying power of a large group of partners for the benefit of the programme’s members, Legacy Lifestyle is able to achieve considerable economies of scale. Members now pay the same rate as a large corporate client at all Legacy Hotels and Legacy travel partners. The travel benefits for members are significant, with between 20% and 25% off at well known business and holiday destinations around the world.
Of course no rewards programme can be a success without having a host of partners on board, from whom rewards can be earned and redeemed by its members. In the case of Legacy Lifestyle, its exclusive 200 plus brand partners represent a variety of lifestyle areas, including: accommodation, adventure, art, beauty, dining, entertainment, fashion, furniture, home, jewellery, spas, speciality, travel, and wine estates.
Partners, in turn, are provided with detailed insights into customer behaviour via the use of big data and analytics. Member data is gathered with the express permission of the member and is only shared with partners from whom the member has detailed that they are willing to accept promotional offers from. This data is then used by partners to better tailor their services and offerings to each programme member.
Levinsohn believes that the future of rewards programmes lies in their ability to offer marketing teams the opportunity to deliver relevant marketing messages and information to programme members at the right time and in the location that they have the most relevance. And the key to successfully doing this he believes lies in the ability to turn the data collected into tangiable information and insights. “With the volume of transactional data that we process, we are able to continually identify behaviour patterns and trends that ultimately deliver a better experience for clients in the programme,” said Levinsohn
Another critical success factor in the Legacy Lifestyle mix is its keen focus on marketing. The company actively markets itself, its partner offerings and the mechanics of its programme to ensure that all partners benefit. On social media alone it now boasts 527,500 Facebook followers and strong and growing footprints on Twitter, Instagram and LinkedIn.
“Reaching 700,000 members is a tremendous milestone for us at Legacy Lifestyle, but the key is to continually provide real value for our members and partners, as well as create an environment where our entire team is happy. And then of course one has to have a business model that is built on fairness, transparency and tangible value. Our members and our retail partners are our customers. By looking after them properly, we will continue to be able to deliver a successful programme across the African continent,” ends Levinsohn.