Loyalty programs are nothing new to retail. In the beginning, most consisted of simple punch cards or other basic means of tracking customer transactions. As technology improved, many programs became digitized with key tags, cards and other ways for retailers to keep track of these transactions, aside from purely manual means. Then came big data,[…]
Loyalty programs surround us. We live in a world filled with keychains on which multiple little plastic mini loyalty cards dangle. There aren’t many places where we spend our money that don’t offer a rewards program or, at the very least, track our purchases via a quasi-rewards program that only allows us to purchase items[…]
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[…]
I recently read an article about a recent Forrester Report titled “Banks and Retailers: You Cannot Price Your Way Out of Bad Customer Experiences.” It was quite fascinating but there was one part that really resonated with me. In every instance, when a customer is making a decision on whether to be loyal to your business or[…]
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[…]