Every business defines loyalty in its own unique way. Is it about how frequently customers buy, how often they refer new customers, how much they spend? Determine what your business goals are, then take a serious look at how you define that loyal customer and how you can leverage that value for long-term growth. Keep [...]
WorldVentures, the world’s largest direct seller of vacation and entertainment club memberships, has introduced the DreamTrips Reward Program, providing loyal members a way to experience the joy of a vacation, faster. New members in the United States joining now through April 30 will be rewarded back the money they spend on membership fees in 2013 [...]
GameStop’s loyalty program, PowerUp Rewards, now has 20 million members taking advantage of its unique rewards and benefits. PowerUp Rewards is one of the fastest growing loyalty programs in retail, reaching this impressive milestone before its second anniversary. “The velocity of PowerUp Rewards enrollments has exceeded our expectations,” said Paul Raines, chief executive officer of [...]
Rite Aid starts 2012 off with some nice additions to their Wellness+ loyalty program, introducing an online coupon management tool starting January 1, 2012, that allows Wellness+ members to load, manage and redeem coupons via their Wellness+ card. Plus, silver members can now choose new Wellness rewards of their choice, including a gym membership or a health/fitness magazine [...]
The National Retail Federation predicts overall retail sales will grow just 2.8 percent this holiday season, but some luxury retailers have their sights set higher, in part to their amped-up digital marketing efforts.
Groupon launches Groupon Rewards, a loyalty program designed to make it easy for their merchants to reward repeat customers and forge long-lasting relationships with them. Consumers will like how it turns their credit card into a loyalty card and they don’t have to worry about signing up, checking in, etc. Consumers unlock rewards once they reach a designated spending level with a merchant. While Groupon’s foundation firmly rests in customer acquisition, this new program shows the value that retention loyalty programs can bring to the marketing table.
Corporate America’s newest loyalty program has a big hole in it. But that’s a good thing: Dunkin’ Donuts plans to put a donut hole (and the surrounding donut) into your hands with an effective 5-10% discount, plus an extra perk for charity, for those who act quickly.
Six factors loom critical in any loyalty effort:
1. Successful loyalty plans are strategic
2. Tradeoffs are required to attain financial goals
3. Objectives must drive program strategy
4. Identify how program design delivers value
5. Leverage best practices of industry leaders
6. Align loyalty programs with CRM.
The dynamics of frequent flier and other loyalty programs are changing on several fronts. For airlines, the recent changes have caused their strategic control over the programs to be in danger of slipping into the hands of credit card companies that serve as intermediaries between airline and customer.” – Oliver Wyman The New Economics of [...]
According to “The Leaders in Loyalty: Feeling the Love from the Loyalty Club” is the latest research from the CMO Council, tapping into the insights of over 600 marketers, and gaining first hand perspective from the recipients of these programs in an audit of over 700 consumers, most marketers (61%) believe that loyalty program participants [...]