Customer Loyalty Program : Types, Benefits, Pros, Cons. Rewards and Loyalty.
Loyalty Program A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business associated with the program. Today, such programs cover most types of commerce, each having varying features and rewards schemes, including in banking, entertainment, hospitality, retailing and travel. How a Loyalty Program Works Loyalty programs provide two key functions: They reward customers for brand loyalty, and they provide the issuing company with a wealth of consumer information. While companies can evaluate anonymous purchases, the use of a loyalty program offers additional details on the type of products that may be purchased together, and whether certain coupons are more effective than others. ...