LifeVantage Optimizes Rewards Circle with New Benefits for Both Consultants and Customers

Rhea-AI Summary

LifeVantage (Nasdaq: LFVN) has announced a significant update to its Rewards Circle Customer loyalty program in the U.S., Australia, and New Zealand markets. The refresh introduces new benefits for both Consultants and Customers, aiming to enhance engagement and provide greater value. Consultants will now enjoy free shipping on enrollment orders with scheduled future Subscriptions and receive business-building rewards for each Subscription shipment. Customers will benefit from first-Subscription perks, including free shipping and gifts for orders above a certain threshold, as well as lower redemption thresholds for Reward Credits.

This update comes 16 months after the program's initial launch in March 2023 as part of LifeVantage's LV360 initiatives. The enhancements were driven by Customer retention data and aim to make Subscriptions more attractive for Consultants looking to grow their business.

Positive

• Introduction of new benefits for both Consultants and Customers in the Rewards Circle program
• Free shipping on enrollment orders for Consultants with scheduled future Subscriptions
• Business-building rewards for Consultants on each Subscription shipment
• First-Subscription perks for Customers including free shipping and gifts
• Lower redemption thresholds for Customer Reward Credits
• Enhancements based on Customer retention data to improve engagement

Negative

• None.

Enhancements leverage increased Customer retention to drive value and engagement

SALT LAKE CITY, Aug. 05, 2024 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq: LFVN), a leading health and wellness company with products designed to activate optimal health processes at the cellular level, today announced an exciting refresh to its Rewards Circle Customer loyalty program in its U.S., Australia and New Zealand markets. This comprehensive update introduces new benefits and enhancements designed to provide greater value and optimize engagement for Customers, while also adding Subscription benefits for Consultants.

On the Consultant side, rewards include free shipping on enrollment orders when a Subscription is scheduled for the future, plus business-building rewards every time a Subscription ships. Customers benefit from the refresh with first-Subscription perks including free shipping and a gift with Subscriptions when over a price threshold. Customers will continue to earn towards Reward Credits with every Subscription but will now enjoy lower redemption thresholds.

"Our commitment to enhancing the experience for both our Consultants and Customers is at the heart of this Rewards Circle refresh," said Steve Fife, President and CEO of LifeVantage. "These updates are designed to optimize the needs and preferences of those committed to our activation products, ensuring they continue to receive exceptional value and benefits.”

The Rewards Circle refresh comes 16 months after launching the program for Customers in March 2023 as part of the Company’s LV360 initiatives, which also included the launch of the Evolve Compensation Plan. The latest enhancements to Rewards Circle were driven from Customer retention data since launch, while also making Subscriptions more lucrative for Consultants looking to grow their LifeVantage business.

For more information about the updated Rewards Circle program, please visit www.lifevantage.com.

About LifeVantage Corporation

LifeVantage Corporation (Nasdaq: LFVN), the activation company, is a pioneer in nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health. The Company engages in the identification, research, development, formulation and sale of advanced nutrigenomic activators, dietary supplements, nootropics, pre- and probiotics, weight management, skin and hair care, bath & body, and targeted relief products. The Company’s line of scientifically-validated dietary supplements includes its flagship Protandim^® family of products, LifeVantage^® Omega+, ProBio, IC Bright^®, Daily Wellness, Rise AM, Reset PM, and D3+ dietary supplements, the TrueScience^® line of skin, hair, bath & body, and targeted relief products. The Company also markets and sells Petandim^®, its companion pet supplement formulated to combat oxidative stress in dogs, Axio^® its nootropic energy drink mixes, and PhysIQ, its smart weight management system. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit www.lifevantage.com. 

Public Relations Contact:

Jennifer Rumble, CerconeBrownCompany
(704) 923-6378
jrumble@cerconebrown.com

Investor Relations Contact:

Reed Anderson, ICR
(646) 277-1260
reed.anderson@icrinc.com

FAQ

What changes has LifeVantage (LFVN) made to its Rewards Circle program?

LifeVantage has refreshed its Rewards Circle program with new benefits for both Consultants and Customers. Consultants now get free shipping on enrollment orders with scheduled Subscriptions and business-building rewards. Customers receive first-Subscription perks and lower redemption thresholds for Reward Credits.

When did LifeVantage (LFVN) initially launch the Rewards Circle program?

LifeVantage initially launched the Rewards Circle program in March 2023 as part of its LV360 initiatives.

In which markets has LifeVantage (LFVN) updated its Rewards Circle program?

LifeVantage has updated its Rewards Circle program in the U.S., Australia, and New Zealand markets.

What benefits do Customers receive in the updated LifeVantage (LFVN) Rewards Circle program?

Customers receive first-Subscription perks including free shipping and gifts for orders above a certain threshold, as well as lower redemption thresholds for Reward Credits in the updated Rewards Circle program.