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Loyalty programs are structured marketing efforts
that reward, and therefore encourage loyal buying
behaviour.
A loyalty card is a plastic or paper card, visually
similar to a credit or debit card, that identifies
the card holder as a member. A successfully
implemented loyalty program can reward desired
behaviours and provide a channel for developing
long-term customer relationships.
Your business can benefit by offering loyalty
programs because they help build a customer base and
encourage regular and continuous patronage.
Customers need to feel that they are appreciated and
will choose to stay with a rewarding company in an
effort to build up reward points to earn the reward
rather than buy from a competitor. Successful
loyalty programs can increase sales, bring positive
word of mouth and expand your customer base.
Try thinking of a loyalty program as an extension of
your marketing campaign. Loyalty marketing is based
on strategic management, in which a company focuses
on growing and retaining existing customers through
incentives. Branding, product marketing and loyalty
marketing all form part of the customer proposition;
the subjective assessment by the customer of whether
to purchase a brand or not based on the value they
receive.
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