When consumers think of loyalty programs, they typically think of racking up miles, or frequenting a business in exchange for rewards, perks or freebies. No matter what business you patronize, there is a good chance that it is offering some sort of loyalty incentive. In fact, many argue that loyalty programs are so prevalent nowadays[…]
Delta Airlines recently revamped its loyalty program changing how rewards are distributed to its customers. In an article in Knowledge@Wharton, Peter Fader, Wharton Marketing Professor, applied the concept of customer centricity in reviewing Delta’s current loyalty program. The concept is simply; “the recognition of differences across your customers.” Knowing that 4 percent of Delta’s customers accounted[…]
In a world filled with loyalty programs, it’s always interesting when I talk to a dealership that harbors doubts. The cost involved in having a loyalty program is minimal compared to the revenue generated. However, at times it seems as if dealers are intimidated by the effort it would take to administer one. Loyalty program[…]
Imagine having customers so loyal that they are willing to pay you just to do business with your dealership. Do you think a customer that makes an investment in your loyalty program would be more or less likely to remain loyal to you and your brand? Three companies have successfully managed to accomplish this and[…]
There are many benefits to having an automotive loyalty program at your dealership to increase business and customer retention. You must be mindful, however, of some dangers that exist if the program is not implemented and administered properly. Loyalty programs seek to reward behaviors. For dealerships, automotive loyalty programs exist to reward customers for spending money at[…]
In the virtual world, merely unlocking the front door of your online store is hardly enough to bring in shoppers. Web surfers aren’t curious enough to open just any door—they need an incentive to come in and wander around, to tell their friends about what they see there and to come back for another look[…]
Many of the so-called loyalty programs in operation today don’t really develop loyal customers at all; rather, they create “frequent” customers. Loyal customers do more than just visit your business more frequently than other customers; they are your businesses’ best marketing tool and your biggest fans! They want your business to do well, and they ensure that you’re[…]
Every business that has offered a loyalty rewards program has seen a variety of responses to every reward offered. Some rewards are rarely – if ever – redeemed by members, while another reward may seem to be the only reward members want. And while we may switch out unused rewards for others we see as[…]
The best way to figure out what your customers think of your business is: ask them. Profound, right? Surveying your customers can provide you valuable insight about your products or services that you can only rarely experience for yourself. What are your customers experiencing? How are they responding to recent changes? How are they interacting with your[…]
Before the onset of any successful journey – whether personal or professional – three questions need to be answered: Where am I?What is my destination?How do I get there? Unfortunately, we often focus so much on the goal or destination that planning the best route to actually reach that goal usually falls by the wayside.[…]