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Strategies For Developing Customer Retention: Loyalty Programs
Strategies For Developing Customer Retention: Loyalty Programs
“Smart companies have realized that customer loyalty is the most powerful
sales and marketing tool that they have.”
Bill Price, DRIVA Solutions
Customer Loyalty
Customer Brand Loyalty
MORE
Customer Loyalty
82.4%
of consumers are more likely to shop at a company
that offered a Loyalty Program.
Consumer Brand Loyalties Strategies
• Easy to earn - simple point system, avoid upfront fee’s, (Keep it Simple Stupid-
KISS)
• Data Collection, ultimately Loyalty Programs help you collect and retain
data with regard to your customer base. What you do with this data is
essential to your future success, make sure you can access the data, that its
easily integrated within your CMS (Content Management System), CRM
Customer relationship management) and IT services. Data helps you
understand the customer likes, dislikes, trends, competitive market, and so
much more – not only will you gain an understanding of what your
customer wants 6 months from today, but also what they will want in 5
years - and remember - this is about lifetime retention.
• Exclusivity, make your loyalty program part of the customer experience -
part of a special relationship between brand and buyer - guide employees
and their attitudes toward developing those bonds with the customer. The
internal team (employees) should uniquely understand the external
messaging that must be delivered effectively to your audience.
Loyalty Programs: Best Practices
Guess what?