Customer incentives have been vilified as cheap promotional gimmicks, fads, and delivering something for nothing in the business press. Even though they’ve been for over a century, more businesses join the bandwagon, not fewer. Organizations are investing millions of dollars establishing and executing rewards programs, ranging from airlines giving frequent traveler benefits to telecommunications providers cutting their costs to acquire more volume.
On the other hand, rewards systems are frequently misunderstood and misapplied in practice. Too many companies treat awards as short-term promotional gifts or monthly specials related to design and implementation. When used in this manner, rewards can provide value by encouraging existing and new customers to explore a service or product. However, they will only yield a small percentage of their potential worth until they are built to foster loyalty.
A vip game bài đổi thưởng program can shorten the loyalty life cycle by pushing first- or second-year customers to act like the company’s most successful 10th customers—but only if it’s part of a more comprehensive loyalty-management strategy.
Rules for getting the reward
Traditional small businesses provide some of the best examples of creating client loyalty through value sharing. For many years, successful neighborhood shops and restaurateurs have intuitively grasped the greater strategic goal of a robust rewards program. Such businesses make an effort to personally get to know their most significant clients. They frequently reward them with unique services and attention, such as contacting them when the desired item arrives or providing them with a complimentary beverage or a special dessert. They understand that providing additional value to lucrative clients converts them to loyal customers, becoming even more successful over time.
However, when businesses grow more complex, their ability to identify which clients are the most significant decreases dramatically. The problem is exacerbated by the staff turnover of customer service and sales staff. Personalized client relationships and the keen judgment on value sharing that goes with them vanish.
Large corporations seeking to grow market share, scalability, and efficiency strive to compensate for the loss of intimate relations by targeting important clients through database marketing or advanced market research methodologies. However, businesses must adhere to the following value-sharing principles for such expenditures to pay off.
Attract more customers
Progressive businesses recognize the advantages of customized marketing and the necessity for a case selection to product development and value offerings. Many companies spend much money on market research to create detailed demographic or psychographic segmentations. These models, however, are frequently unsatisfactory since there is no practical method to identify a consumer by section. Defining a sector as “large backyards” or “personal-computer junkies” may conjure up images of people in that group’s lifestyles or mindsets, but this does not provide an effective technique for locating customers.