Simple Steps to Make Loyalty Into a íGrowalitioní
In this thought-leading article Malcolm Fowler of Ernex explains how a company running its own loyalty program can partner with like-minded and related businesses to grow into a loyalty coalitionÖ
Loyalty programs have become extremely popular. So popular, in fact, that smart business operators know that if they design a loyalty program that is innovative, valuable and simple to use, consumers will not only make room for a loyalty card in their wallet, they'll actually use it.
A recent survey of nearly 4,000 cardholders by Synergistics Research Corp. found that credit cards with a rewards program more than double card usage to an average of 12.6 times per month versus 5.2 times per month for a card without a rewards program. Add in the fact that today's consumers are accustomed to handing over plastic versus cash at the point-of-sale, and those behaviors become too tempting to resist when a business is considering creating its own loyalty program.
But what do you do if your business already has a strong loyalty program? How do you take it to the next level and capitalize on its untapped growth potential?
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