A customer loyalty program is a marketing approach that recognises the loyal customers who frequently shop with a brand to reward them.
By rewarding recurring engagement it can boost customers loyalty, the company may adopt any strategy to reward as it may dole out points or bonuses, and may graduate buyers to a higher tier of loyalty the more they shop. The overall idea of the loyalty program is, the more loyal the customer the more rewards they receive. The incentive to loyal customers can benefit in many ways like – they might get discounts, a free item, insider points, free merchandise, rewards or coupons.
But, this happens after a consumer qualifies by making a certain number of purchases.
Business can be skeptical of bestowing free goodies but, it’s a scheme that doesn’t have to incur huge amounts. Giving an extra product with a purchase is a terrific way to bolster a buying decision of your shopper – nonetheless every one of us loves receiving gifts! You don’t lose anything though, for every cent a business spends investing in this program, likely reaps multiples in return.
Earlier loyalty programs provided a tracking card but nowadays, the purchase can be tracked within an app by using loyalty software.