It seems like everyone has a loyalty program in place – and for that, as a consumer, I am grateful. I utilize each and every program to its fullest and have been lucky to receive my fair share of free flights, hotel nights, merchandise and discounts that make me feel truly special!
Unfortunately, for many companies – loyalty programs are not always as fruitful. In many cases, when companies realize that their program is not working, they often make it worse by lowering the thresholds and lengthening the qualifiers and eventually end up offering discounts or points on every purchase for every customer. In the long run, this ends up costing money and frustration, not to mention it still isn’t helping the objectives get met.
The good news is, if you have a loyalty program in place – you’ve got a head start on success. You have experience and information about your program, about your customers and how they used the program. You are also one step ahead if you’re reading this and are willing to make changes in order to meet your objectives. Tom Koeppen’s article, “Let me guess…Your Loyalty Program isn’t Working?” takes a deep dive into loyalty programs and how you can make them successful for your company. He covers how to make sure you have the correct objectives in place and how to properly implement them. We strongly recommend that you read this article, especially if your loyalty program isn’t doing what it promised to do.
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Upcoming Webinar: How Luxury Brands Can Reinvent the Customer Experience
While issues around the quality of the customer experience have been providing luxury brands with challenges in brand loyalty and customer retention, there are opportunities to re-engage customers and win a stronger degree of loyalty from them long-term. Learn More.
