Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about the top three mistakes companies make with their rewards program.
First off, there is a difference between a repeat customer and a loyal customer. Some companies don’t know the difference. Just because a customer comes back, even repeatedly, doesn’t mean the customer is loyal – at least not to the company. So what are the three biggest mistakes companies make with their rewards program?
Number 1 is lack of rewards: If you’re not offering rewards beyond your own products and services, you’re missing out by pigeon holing your customers.
Number 2 is over-discounting: It is NOT a unique business practice, and once you do it, the competitor down the street is going to compete with a price that’s just a little lower?
Number 3 is lack of convenience: This may be the most important mistake to avoid. If you want your loyalty program to stand out, make it easy. To break through the noise, brands must make their loyalty programs as seamless to navigate as possible.
To learn more about how to avoid these common mistakes, and discover other great customer loyalty insights, please visit theloyaltyminute.com Enjoy!