Reward multiple steps of the customer referral journey. Give customers a better reward experience.
We’re excited to announce Reward Bank, the newest addition to the Extole platform. It is built to help brands create better referral experiences, provide more refer-and-earn opportunities, and drive more engagement across the referral journey.
With Reward Bank, customers can earn, track, and redeem rewards on their terms. Whether it’s a share, a referral click, a sign-up, an account opening, or a completed purchase, most any step in the referral or engagement program can now be connected to more meaningful incentives in one branded, centralized space.
In short? Reward Bank turns referral rewards into an ongoing engagement and loyalty strategy.
Why We Built Reward Bank
Traditional referral programs often reward a single moment: a successful conversion. This works perfectly fine for many programs, but some customer journeys are more complex. The most valuable advocates don’t stop at one action—they share multiple times, influence more friends, drive more sign-ups, and convert more over time.
We built Reward Bank to support those advocates and help our clients to incentivize more of them. It’s built to:
- Reward multiple actions, not just final conversions
- Let customers accumulate more value through collectible rewards
- Give marketers the flexibility to configure reward programs more easily
- Offer an improved customer experience for redemptions and tracking
Reward Bank reflects our commitment to Customer-Led Growth. When companies empower customers to participate in ways that feel natural and rewarding, they’ll keep showing up and bringing others with them.
How Reward Bank Works
Reward Bank adds a new layer of flexibility and personalization to referral and engagement programs. Here’s how it works:
1. Earn Collectible Rewards
Customers earn “collectible rewards” for key actions, like sharing a referral link, getting a friend to click it, signing up, or completing a purchase. These are entirely flexible and typically use points, credits, or even time-based subscription rewards.
2. Track and View Progress
Each customer has access to a branded and embeddable redemption center, giving them a dashboard to view their total balance, track earned and redeemed rewards, and see what actions or friends contributed to their progress.
3. Choose and Redeem Rewards
Customers can choose from configured redemption options when they reach the defined threshold. Whether it’s a gift card via Tango, Tremendous, or BHN, a custom offer, a discount, or a free subscription month, the customer controls when and how to redeem. Rewards can accumulate in their personal Reward Bank and be redeemed immediately or, like loyalty programs, saved and combined for larger rewards.
4. Stay Engaged with Smart Emails
Customers receive real-time “reward earned” and “reward redeemed” emails, linking them securely back to their personalized Reward Bank. These notifications keep the momentum going and bring people back to check progress or remind them to take their next action.
Key Benefits for Brands
Reward Bank helps marketers go beyond one-time referral moments by:
- Promoting multi-step reward flows along the entire customer journey.
- Lifting participation by assigning values to actions like shares and clicks, not just conversions.
- Delivering a better customer experience.
- Allowing customers to accumulate and redeem rewards on their terms.
- Offering more reward redemption options (gift cards, discounts, free months) and point-based rewards with more exchange rate options.
- Analyzing new reports covering earned, redeemed, outstanding, and expired reward banks, including detailed audit logs.
Reward Bank is also highly configurable, with marketer-friendly controls that require no development resources. Brands can manage multiple reward banks across segments or regions, offer flexible reward types, and keep customers engaged with branded interfaces and automated touchpoints.
What’s Next?
We’re already seeing exciting early results from brands using Reward Bank to drive higher referral volume, longer engagement cycles, and more reward redemptions. We will continue to enhance the experience with upcoming features like redemption reminders, stat summaries, and expanded analytics.
Want to See Reward Bank in Action?
If you’re looking to improve your referral and engagement programs, Reward Bank offers the best experience in the industry. Request a demo today to see how Reward Bank can turn your customers into lasting, loyal advocates.
