article thumbnail

Loyalty Programs!?! We Don’t Need No Stinkin’ Loyalty Programs!!!

Beyond Philosophy

For the past several decades, many companies have relied on customer loyalty cards or programs, by which they can track purchase behavior and give rewards for repeat and volume buying activity. Customer loyalty programs are especially popular among retailers. also has no loyalty program.

article thumbnail

Loyalty for CEOs: how to add enterprise value to your loyalty program

Currency Alliance

If a new CEO replaced you tomorrow, and had no previous connection to the current loyalty program, what changes do you think she would make? We hear loyalty leaders state all the time that they have embraced ‘best practices’. That’s right, loyalty programs should be a profit center.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Psychology Behind Customer Retention and Loyalty

Experience Investigators by 360Connext

Implement a loyalty program : Reward loyal customers with discounts, free products, or upgrades to gamify the brand experience (and trigger dopamine!). Loyalty programs give customers a perceived return on their investment and reward them for their loyalty. But be careful with these programs.

article thumbnail

McKinsey Thinks Bland, Generic Loyalty Programs Are Killing Business – And They May Be Right!

Beyond Philosophy

And, what is the impact of loyalty programs on enterprise profitability? Overall, companies with loyalty programs have grown at about the same rate as companies without them; but there is variance in performance value among industries. Key among these are: Integrate Loyalty Into the Full Experience. Use the Data.

article thumbnail

5 Rules That Absolutely Build Customer Loyalty

Beyond Philosophy

Airlines have this a bit, too. Many times, you fly an airline even when you don’t like them. In this case, consider Ryanair, the budget airline in Europe. If some other airline provided better service at the same price, people would flock to them. . It’s the same situation with airline loyalty programs.

Loyalty 172
article thumbnail

Loyalty and Retention Are Not Synonyms

SurveyGizmo

For an organization that truly wants to become customer-centric, then they need a strategy for building customer loyalty. And building a loyal customer base should be one of their goals when launching a VoC program. Striving for a superior customer experience should go hand-in-hand with your VoC program.

Loyalty 98
article thumbnail

5 Top Customer Service Articles For the Week of June 20, 2016

ShepHyken

World’s 3 MOST Customer Centric Companies: How do they do it!! Customer Guru) Here are our top three picks for the most customer centric companies and some lessons on how they manage to be customer-centric despite their size and diversity. The concept of desire is loyalty on steroids.