How is loyalty important

Loyalty programmes should be designed to offer maximum benefit to your customers, but also to your brand. Digitising your reward programme means you can view real-time data about how your customers engage with your programme and your brand as a whole. Access to this information enables you to develop innovative and effective strategies for improving your loyalty programme, but also your brand on the whole. Rewards programmes actually double as a form of market research.

Rewards programmes also personalise your view of customer buying habits. You can attribute specific sales to specific people — helping you build detailed customer profiles and understand nuances within your own target market that might otherwise fly beneath the radar. You can then feed this data back into both your loyalty programme and strategic brand decisions to better connect with customers on an individual level.

A very interesting example of how creating personalised attributions for buying patterns can impact strategic decision-making is CLV — customer lifetime value. If your goal is to build a system using anything more advanced than physical loyalty cards, getting started can be daunting.

If you want the attention of modern shoppers and access to many of the benefits listed in this article , a technologically enabled loyalty solution is going to be a requirement. The growing importance and sophistication of loyalty programmes has been accompanied by a growth in loyalty marketing specialists. These agencies offer turnkey and bespoke solutions, creating customised and branded programmes and apps, optimising backend analytics, helping you make the right strategic decisions.

Remember that not all projects take the same amount of time. Strict time limits or quotas may discourage talented employees from taking on difficult tasks. Quality Assurance and Training Connection QATC reported that one company saw a significant increase in retention by designating more resources and adjusting performance expectations a little for a particularly stressful call type. Think about the knowledge and experience the company held onto by keeping those employees.

Not to mention the cost savings. A good place to discover what other companies are doing is the citations for The Elite 8, the top companies in each category. At the heart of our company is a phenomenal leadership team that has created a culture where people work hard, care about each other, are innovative, and fun to be around. By constantly improving from our employee feedback , we were recently awarded the Top 50 Most Engaged Workplaces in the United States.

Ready to improve employee satisfaction in your company? See how InMoment can help you increase employee loyalty in the workplace and boost business success. And watch out, you might be next! Can someone who isn't loyal still deserve our respect?

Being loyal requires character and integrity, two impossible virtues for those who are weak or lacking of a moral compass. Sometimes, one must be loyal even to those who don't deserve it or appreciate it. As we have already said, loyalty is an act of integrity and personal values.

Many times, loyalty has to do more with oneself than with the subject of our loyalty. Gratitude compels us to be loyal and vice versa. The ungrateful tend to be disloyal and the disloyal to be ungrateful. Better to stay away from both, to identify them early on and not give them second chances.

By contrast, nothing should be more treasured than loyal friends and collaborators! Being loyal pays off with a legion of people who are loyal, who have our backs and protect us from the disloyal. People who are loyal deserve my entire admiration and respect. Reebok has an alternative approach, and one that may cost the brand less money than a gift-based rewards plan.

Reebok provides VIP experiences, training and wellness programs, partner rewards, and much more. Members gain points for every interaction and transaction. As points accumulate so do the value of the rewards. Even going as far as providing access to partner events and product releases. Though it may go without saying, loyal customers are the most likely to keep coming back to purchase from your business.

Whatever their reason may be, loyal customers are more likely to drive repeat business, making retention of loyal customers key.

The likelihood to spend more stems from a sense of trust that the customer has developed over time for their favored brand. Not only will loyal customers keep coming back themselves, they will spread brand awareness through word-of-mouth marketing. Happy customers are likely to tell friends and family about your business and your products, essentially advertising and spreading good graces on your behalf. Existing customer referrals help bring in new customers, making your loyal customers brand ambassadors of sorts.

When loyal customers spend money with your brand, competitors lose out on potential revenue. Essentially, every dollar spent with you is a dollar not spent with your competitor.