Rewarding Value With Value
When I hear people talk about loyalty these days, they always mention how it's all about the customer experience. What I don't hear these same people talk about is customer value. After all, what's an experience without value to the customer? Loyalty programs are great ways to learn more about your customers, and then act on that information to increase their value. These programs must have a long-term goal that involves deep customer connections.
That means rewarding value with value. A loyalty program is most effective when its incentives, rewards, and other communications meet the needs of customers who are high-value today and those customers with the potential to be high-value tomorrow. Then you will truly create an experience with impact.
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