Retailers have long turned to integrated loyalty Programs to help strengthen their customer relationships. Loyalty Programs build relationships by facilitating an exchange of value for information. The retailer puts something extra – reward points, cash back, discounts or special perks and privileges. Customers respond by joining the program and giving permission for retailer to track transactional data, survey data, and perhaps online or mobile behaviour, in exchange for that extra value. The onus is on the retailer to close the loyalty loop by delivering that information back to the customer in the form of increased value and more relevant offers. The resulting positive feedback results in strong, sustainable, and mutually beneficial relationships.
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