Loyalty Reward Programs

Loyalty Reward Programs

Does your company need a progressive loyalty reward program? You bet it does. Small or large, any company can now benefit from a customer reward program. Why are customer reward programs so critical? Because they increase customer loyalty! They work. If you don’t have a loyalty program in place yet, chances are that your competition does.

To be clear, let’s define progressive loyalty rewards program: this is a program in which customers that use their loyalty program reward card with each purchase are rewarded with points / discounts / cash, and the more they use their loyalty card, the more rewards they earn. This keeps them coming back again and again. It also encourages buying more which will increase sales.

This is a very effective program so long as the rewards are balanced properly with the time needed to earn those rewards. This must be planned very carefully early in the process, and may require small test runs in order to see what works with your business. Every industry is different and requires different strategies.

One consideration is whether to use loyalty cards or go paperless and use electronic means like cell phones or other devices. Electronic methods (I’ll call them e-cards) are all the rage at the moment. Everyone thinks they will replace loyalty cards. I get so tired of hearing this propaganda from the software companies.

Of course the programmers want everyone to think that e-cards are the wave of the future. But they are quickly creating another means of spam. As soon as the tipping point is reached and multitudes of companies try their hand at e-cards, consumers will get bombarded with coupons being sent to their phones, whether they want them or not.

Loyalty cards are still by far the best means of promoting your company by putting a card in someone’s wallet, or a keytag hanging from their keys 24/7. Additionally, plastic cards with bar codes are long proven technologies. Cell phone bar codes don’t always scan, and the technology is still being developed. And at pennies per card, loyalty cards are still the most affordable method. Progressive customer loyalty cards will be here for a while longer.

If you are investigating progressive loyalty rewards programs for your company, consider some of these factors before getting started.

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