Business Royalty = Customer Loyalty?

In Featured on App, Loyalty & CRM by lizhenLeave a Comment

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Customer loyalty programs have been generating a lot of buzz recently and what more especially in the age of information where everyone is doing their own research and making their own informed decisions?

Most loyalty programmes today are too concentrated on positioning an attractive rewards system to reel in consumers into buying their product. What seems to be the problem is that loyal consumers are not meant to be lured. They are meant to be developed.

Good loyalty programs recognize and value customers instead of just handing punch cards over to the consumer or even fancy swiping technology and hoping that the customer would soon return for another pathetic freebie.

Listed below are the 30 major factors behind a successful customer loyalty programme that are easily comprehensible and strategically assessed instead of beating around the bush.

  1. Focus on acquiring data, not just repeat visits
  2. Target customer acquisition more accurately
  3. Move customers up the spend bands
  4. Intelligent deselection of the least profitable customers
  5. Win back profitable customers that have defected

Alternatively, do continue to read on at WiseMarketer for more strategic insights.

Dangling carrots are a thing of a past and if not, insulting to the consumer. Educated customers seek enrichment and what most businesses fail to realize is that loyal customers are in fact, the firepower to the arsenal of any successful enterprise.

Loyalty fuels the reign of any king and loyalty is born from belief, formed from a captured heart.

After all, what good is a king if he isn't able to capture the hearts of his people?

Be the king who captures the heart of his people – get your loyalty strategy right at Asia's Customer Festival and Hong Kong's Customer Festival next year!

[Image: Mym – Flikr]

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