Maritz Motivation Solutions, one of the leaders in providing consumer loyalty programs to U.S. and global companies just released its ‘Insider’s Guide to Customer Loyalty.’
The guide offers insights and tips on loyalty programs for both marketers and brands.
“Engagement and loyalty are what all brands desire from their customers. In today’s economy, customers are continuously evaluating which brands are worthy of their scarce dollars and attention. That’s why a smart loyalty strategy is crucial for any brand looking to engage, retain and nurture their customers,” said Barry Kirk, vice president of customer loyalty strategy at Maritz Motivation Solutions. “But loyalty can be hard to define, difficult to earn and easy to lose, which is why we created this guide.”
According to Maritz, 84 percent of customers report being members of points-based loyalty programs and 45 percent of consumers cite the opportunity to “earn rewards” as a primary driver for purchasing from a brand.
“Maritz’ guide covers all the essentials for marketers including an explanation of customer loyalty; the four different loyalty frameworks; design criteria for loyalty programs; how to measure program success; important financial considerations; and how to select the right loyalty partner,” according to a company news release.
“Determining whether a loyalty program should be part of your marketing strategy largely depends on what challenges you are trying to address and what resources you have to devote to a program,” Kirk said. “While a loyalty initiative can address a wide range of business challenges, it is not a panacea. A loyalty program will not effectively address issues relating to product quality, customer service, pricing or market shifts.”
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