Benefits and risks of online dating
Great article, but if there is one single point I would highlight it is that while freebies and discounts are effective loyalty program incentives, they are also costly.Retailers can often achieve the same loyalty program success with status and recognition rewards.
In a Forrester research study that looked at loyalty programs across industries, they noted that credit card companies achieve 70% loyalty (defined as consumers who look to that brand for additional purchases), while individual credit card company USAA achieved 98% loyalty.
I think we struggle on finding the differentiation you suggest in #2 of your framework.
Any suggestions or references of companies that do this well appreciated.
move consumers to higher tiers based on activities (referrals, engagement) or purchases), call-center scripts, automatic creation of loyalty accruals (to post to your GL system), points expiration dates, points-based business rules (i.e.
accelerators, bonus point promotions or reward double points for select purchases or activities), intelligent offers (cross-sell, up-sell, next-best-offer suggestions), redemption rules (i.e.