Are You a Loyalty Company?
It’s harder than ever to earn your customers’ loyalty. They are “always on, ” have instant access to myriad choices, and can easily find the cheapest prices from any supplier. Many companies think they’ve solved this with a loyalty program, but the competition is stiff there, too. On average, consumers belong to eight loyalty programs — the majority of which are ruled by points, discounts and financial rewards. And let’s face it: These transactional benefits are more about increasing frequency and spend than influencing emotional loyalty and devotion to a company.
Sales Renewal’s insight:
A recent report from Forrester Research confirms that traditional approaches to loyalty programs don’t cut it anymore. In today’s complex marketing world, loyalty programs can no longer be stand-alone, transactional tools, but integrated into the entire customer experience to build company loyalty.
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