The prime movers of loyalty

29 October, 2019   I   by admin

In the top 5 loyalty drivers worldwide, customers tell us that the ease of earning and redemption along with the variety of rewards are key.

Source: www.collinsongroup.com

There is a few things to say when we talk about rewarding customer in a loyalty program:

 

Convenience in earning and spending points is crucial for consumer adoption

 

What Rewards to offer: studies show consumer expect instant gratification. So it become critical to be able to reward consumer from first purchase. Cash Back and Discount are loved by consumer but are they conducive to loyalty??? and it erodes your margins.

 

Who to reward: frequency of purchase cannot be the only factor to reward a consumer.  I have been buying a pair of Nike every year for years and I never any other brand, should not I be consider super loyal to Nike????

 

#RewardProgram

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