Get Started for FREE
Sign up with Facebook Sign up with Twitter
I don't have a Facebook or a Twitter account
|
Loyalty Marketing & Rewards
The latest news & trends on all things customer loyalty, acquisition, engagement & retention Curated by the first club™ |
Your new post is loading...
Scoop.it!
What we learned from Nudgestock 2018 We recently attended Ogilvy’s spectacular festival of behavioral science, which further discovered the complexities behind human nature and put industry experts in the spotlight. The event put on an incredible show with an array of different speakers from an assortment of different industries and disciplines straight from economics to […]
Scoop.it!
While the number of loyalty programs has increased, they can often actually destroy value for companies.
Scoop.it!
While the number of loyalty programs has increased, they can often actually destroy value for companies.
Scoop.it!
Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
Scoop.it!
Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
"Simplicity, personalization and tapping into the sub conscious should be 3 areas of focus for programs" @charliehills #loyaltyprograms #programdesign #customerengagement