Enhancing the Customer Experience with Loyalty Management
Enhancing the Customer Experience with Loyalty Management: Strengthen the Brand and Improve Customer Retention
Loyalty programs - which promote specific customer behaviors by providing benefits (such as rewards for miles flown) - can help enhance the customer experience. While companies often view such point-based programs as a fast way to enhance profitability by inducing customers to buy, they are finding that there is a much greater value provided by loyalty programs: the collection of information from program members. Companies can then use this data to develop a 360-degree view of customer interactions and determine how best to tailor process enhancements by segment - particularly for high-value customers.
By implementing loyalty programs that are integrated across sales, service, and marketing - across all channels of interaction - a firm can greatly enhance the customer experience, increase customer retention, and foster development of a community of people who serve as advocates for the business.