Home improvement and construction retailer The Home Depot works hard to cultivate strong relationships with some of its biggest customers — professional contractors. That’s why it created a loyalty program specifically targeted to its pro contractor customers.
The Home Depot’s Contractor Plus Rewards program provides its members with the opportunity to earn Reward Points on everyday home building purchases. Contractors can redeem their points for valuable rewards, such as the Petro-Canada™ $25 Gift Card.
In August 2012, The Home Depot wanted to add new rewards to its existing portfolio in order to increase customer engagement with the Contractor Plus program. The company was looking for rewards that were most relevant to the business needs of its Contractor Plus members.
Rewarding with Relevant Incentives
The Home Depot conducted market research and tested limited time offers to determine which rewards were deemed most valuable by its loyalty program customers. The results? Home Depot found that gas savings were considered a top reward benefit by its Contractor Plus members. Fuel savings are particularly relevant to contractors, given that they travel to and from job sites, and may own multiple vehicles for their business.
In addition to offering the Petro-Canada™ $25 Gift Card, The Home Depot partnered with Petro-Canada to launch a co-branded Gift Card to capitalize on the popularity of the gas savings reward and to keep The Home Depot brand top of mind for its Contractor Plus members.
Presented with the unique challenge of adding gas savings to the dynamic, multi-tiered 407 ETR Rewards program, only Petro-Canada was able to deliver the flexibility and automatic monthly fuel savings that 407 ETR required. The ETR Rewards program was unveiled to over 100,000 drivers in early 2007 — complete with different levels of fuel savings and kilometre rewards depending on the tier.
Gas Savings = Top Redeemed Reward
Relevant rewards drive results. The Petro-Canada/Home Depot co-branded Gift Card is a top redeemed reward, giving the Contractor Plus member immediate fuel savings and an incentive to stick with The Home Depot as their loyalty program of choice. As a result, The Home Depot has seen engagement with its Contractor Plus program increase significantly.
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