Customer Loyalty Program
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If you're thinking of setting up your own customer loyalty program, here are some pointers to get you started:

A well designed  customer loyalty program can  accomplish the following:
bulletPositions your company as the preferred, trusted provider of choice
bulletTargets high value core customers – existing, lapsed and new prospects with potential
bulletDistinguishes, differentiates and insulates your company from competitive pressure/replication with a high perceived value proposition
bulletInfluences buying behaviour from transactional to full service
bulletEstablishes value for services being offered today
bulletReduces reliance on rebate/cash discounts as way of doing business
bulletAchieves results to measurable objectives

 

Develop a loyalty strategy anchored by a customer loyalty program that rewards your best customers with a high perceived value currency that has high aspirational rewards, attainable with reasonable behaviour change and hassle-free points collection and redemption.

To do this you need to:

bulletEstablish a program that offers incentive and motivates
bulletMake it easy to understand, participate and redeem – low involvement
bulletInvolves rewards for both customers and frontline employees
bulletBe culturally aware not to create the impression that your company has extra money to be giving away, especially during a difficult period
bulletBe sensitive to our customers’ desire to have the choice to participate in the program
bulletShift/reduce reliance on rebate-driven programs
bulletBundle/package your company's product/service portfolio as it exists today
bulletConsider "front of the line" type services/products for core customers for the future
bulletLeverage customer data capture for long term planning, prospecting, measurement and communication

An effective customer loyalty program recognizes and rewards customers based on their purchase behaviour.

 

Consumer Loyalty Program    Customer Loyalty Program    Customer Loyalty Program Web    Discount Loyalty Program    Employee Loyalty Program    FAQ Loyalty Program    Guest Loyalty program    Loyalty Building Program    Loyalty Program Software    Loyalty Reward Program 

   

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Last modified: November 21, 2007