Loyalty programs are structured marketing efforts designed to encourage customers to continue to shop at or use the services of businesses associated.
For many organizations there are the corner stone around which the entire marketing effort is focused. In fact it’s difficult to think of a Fortune 500 or for that matter any highly successful company which doesn’t leverage this important marketing tool.
The course is divided into two parts. First part talks about how to maximize gains due to loyalty programs. And second part is about creating an e-commerce loyalty program that gains conversion.
This lecture is a complete package that covers everything from why loyalty programs are beneficial, to how one can create loyalty programs for own business.
While starting a loyalty program, there are many things that one should consider in order to make it a success, otherwise they might just fall apart. This lecture talks about such important considerations.
Loyalty programs can be broadly classified into 9 archetypes: 1. Simple point system 2. Tiered system to award loyalty 3. Upfront fee for VIP benefits 4. Deliver unpublished benefits 5. Partner with companies for all-inclusive offers 6. Non-monetary programs around customer values 7. Engage customers through social capital 8. Gamification of awards 9. Use no program at all! This lecture makes use of examples to explain all these loyalty archetypes.
Once the loyalty program is set, it’s also important to measure how effective it is and what Return On Investment are you driving. This lecture explains how we can measure the effectiveness of our loyalty programs.
We all have heard of loyalty programs doing good for business. But what exactly are they beneficial for? Why so one needs to create loyalty programs? This lecture is about benefits of creating loyalty programs.
There are bunch of loyalty programs that can be created for a similar kind of business. But what exactly is going to benefit you takes tons of practice and strategies. This lecture is about how to devise strategy based on customer understanding.
What are the best practices of creating loyalty programs that make them a big hit. Follow this lecture and be ready to create your very own successful loyalty programs.
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