As fuel prices continue to surge, Australian businesses are turning to fuel card loyalty programs to help manage costs and reap rewards.
With a number of options available in the market, the right loyalty program can help retailers build stronger customer relationships, enhance customer retention, and increase revenue.
Anurag Vasisth, Co-Chair and Group CEO at Loyalty Now, said modern retailers are increasingly moving towards digital loyalty programs to deliver frictionless shopping experiences for consumers as well as comprehensive security, helping to combat the loss of loyalty from today’s customers.
“Brands need to understand the specific objectives they want to achieve with a loyalty program, from increasing purchase frequency to raising average order values or enhancing customer lifetime value. Each goal requires a different approach to the loyalty program’s design, with tailoring to meet specific customer and business needs.
“To meet those goals, it’s critical to ask the right questions of loyalty providers to ensure a solution meets both brand objectives and customer expectations without creating friction or disconnects.”
Taking a look at some of Australia’s leading fuel card loyalty programs, the best programs are the ones that offer flexibility to adapt their structure, rewards, and communication channels as a business grows and market dynamics shift, which is also valuable.
Research by Canstar Blue showed that client service and the loyalty program are the strongest drivers of overall customer satisfaction for small business fuel cards, and in 2023, Viva Energy’s Shell Card was awarded Canstar Blue’s ‘Most Satisfied Customers Award – Small Business Fuel Cards’ in 2023.
Viva introduced a Shell Card portal, giving account managers more control over their fuel management, as well as enhancements to the Shell Card GO app to give fleet managers more visibility to monitor and track their fleet’s fuel consumption.
The BP Plus fuel card offers businesses substantial discounts on fuel purchases as well as a comprehensive loyalty program that extends perks such as the ability to earn Qantas Points and triple benefits when using an American Express Qantas Business Rewards Card.
Looking at the Caltex StarCard, again, this card offers discounts on fuel purchases and two options of cards, Open Loop and Closed Loop, both with varying offers. There is also currently a sign-up offer, as well as various perks through Caltex’s partnerships on accommodation and vehicle maintenance, with the option to subscribe to 24/7 roadside assistance.
As one of the most widely accepted fuel cards for businesses in Australia, WEX Motorpass is able to be used at over 6,000 locations for not only fuel but also essentials such as servicing, tyres, roadside assistance, and more.
“Selecting the right loyalty program is a strategic decision that can significantly impact a business’s ability to compete in an evolving economic climate. A successful loyalty program, delivered by a trusted partner, that meets immediate needs will position brands for long-term success by building deeper, more valuable customer relationships,” said Vasisth.
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