Tyl by NatWest today launches a new loyalty app ‘Tyl Rewards’ designed to encourage consumers to continue supporting local businesses, by rewarding regulars as lockdown starts to lift in the UK.
Recent Tyl research found that around a third of UK consumers (30%) feel that the pandemic pushed them to buy from local independent businesses more often whilst a further half (47%) state that they think they could do more to support local in future. To help sustain and incentivise consumer support for local businesses, Tyl Rewards offers businesses who are Tyl customers the ability to set up a reward programme in a matter of minutes, giving consumers the chance to earn points to redeem against rewards for simply supporting their local businesses.
For local businesses that use Tyl as their payment partner, Tyl Rewards is easy to set-up and manage. Owners simply log into the Tyl portal and decide the rewards they wish to offer customers to thank them for their loyalty, along with setting the total points consumers need to earn before they can receive their reward. The points system is kept simple with customers earning 10 Reward points for every £1 spent with participating businesses.
The flexible approach means small businesses can offer meaningful rewards tailored to their regulars to motivate repeat business and build their customer base via word of mouth and advertising the offering. Businesses will be able to track the performance of their Tyl Rewards programme with real-time data, providing a clear picture of what offers are working well and which might need changing.
For consumers, Tyl Rewards offers a hassle-free alternative to multiple loyalty cards and an incentive to continue supporting their favourite local businesses. All they need to do is download the Tyl Rewards app, link their payment card and they can begin collecting points towards earning rewards automatically when they spend. Once logged in, customers can navigate to a dedicated section within the app that will tell the shopper once they’ve earned enough points to redeem a reward.
Powered by Pollinate, the launch of Tyl Rewards is the latest in a series of innovations aimed at supporting small businesses through the pandemic and giving back to local communities, including the ongoing ‘loyal to local’ campaign, urging consumers to stay loyal to their favourite small businesses. Tyl has also partnered with Pennies, the UK's leading charity working to protect and grow micro-donations. Tyl donates a proportion of revenue to charities, meaning that businesses who use Tyl give back with every transaction.
Mike Elliff, CEO, Tyl said: ”It’s been inspiring to see the level of support people have given their local businesses over numerous lockdowns. As we start to rebuild, businesses need our support more than ever. And consumers, with even more choice available to them, need reasons to continue to ‘shop local’ as their worlds widen.
“Continued support of local businesses will play a huge role in the recovery of the economy so we hope Tyl Rewards will give local businesses the ability to reward their regulars, thank shoppers for sticking by their local suppliers and incentivise them to keep doing so.”
Cait Salanson, founder and owner at specialist catering service, The Little Kitchen Company, Winchester, who piloted Tyl Rewards ahead of launch said: “As we come out of lockdown it’s the perfect time to build on the love that customers have shown for small businesses such as ours over the pandemic. We wanted to cement the strong relationships we’ve built over the last year and to give something back by introducing a loyalty and reward scheme, as well as encouraging people to stay with us, now they have more options.
“Reward schemes have to be easy to use and our customers enjoy Tyl Rewards for exactly that reason. It’s on their phone, they don’t have to rummage through their bags or remember to bring a stamp card. Everyone has their phone so it’s a simple and modern way of doing it.
“For me as a small business owner, I have to compete with bigger chains as lockdowns lift. It was a simple and easy tool to use to nurture that personal relationship with customers. People love coming to a small business like ours because we remember their last order or their regular drink. Tyl Rewards has cemented that relationship and helped keep customers coming back which can only be a good thing as we build for the future.”
Tyl by NatWest is a new, innovative payments service designed in partnership with UK SMEs to make it easier for small business customers across the country to receive payments in-store, online and over the phone. Tyl offers next-day settlement for users, helping businesses to manage cash flow during covid-19 and beyond.
Described as a modern toolkit for small businesses, Pollinate’s cloud-based technology takes data feeds from existing bank and third-party systems and gives SMEs a single place to manage their business, access capital, take payments, study insights and implement digital loyalty schemes such as Tyl Rewards.