Do we need a loyalty program?
As according to www.philstar.com
“We estimate that extending the length of a customer relationship by one year increases revenue by 45%. That figure jumps to 130% when the relationship is extended by three years. If usage of data services such as mobile internet connection is included, the revenue increase from an individual customer could increase by 240%.”
What is a loyalty program?
“Loyalty programs may offer prizes, reward points, future discounts and other incentives designed to keep customers coming back and doing repeat business with you.”
From this we can conclude that loyalty program can be sum up with a simple equation Rewards = loyal customers.
However rewards alone do not make a loyalty program amazing. So what makes a good loyalty program?
• Choice of rewards. The more rewards the happier customers are.
• Ease of usage.
Which brings us back that at Gimmie, new rewards are introduced regularly and usage of the loyalty program is as simple as surfing and clicking for points.