A customer loyalty program is a great way to market your product or service to your existing customers. A classic example of a customer loyalty program is the frequent flyer program, which encourages travelers to use a specific airline as a way to earn free airline tickets. This has been a very popular program for many years. I've seen firsthand how hard people would try to use a specific airline so that they earned frequent flyer miles, even if it meant an extra layover here or there.
The frequent flyer program worked well for airlines for many years; unfortunately, now that many of them are in financial turmoil, it may not be the best time for them to redeem the frequent flyer miles. If you come up with a customer loyalty program, you may want to consider whether you could continue the program if the economy does not hold up.
Another example of the customer loyalty concept is the punchcard. Some stores give their customers punchcards that are punched every time they shop at the store. Once the shopper spends a certain amount of money or shops at the store a certain amount of time, they receive a discount or reward.
To discuss what customer loyalty programs might work best for your business, please Contact Me at SolidOakConsulting.com.
No comments:
Post a Comment