Right now, we are living in the age of innovation. We have lived through the inception of the internet and computers, and continue to bear witness to technological advances made every single day. Everything has grown, adapted, and changed due to this, including business including products, which continue to develop at an unimaginable pace. This rapid evolutionary rate cause consumers’ demands to grow, and soon the advance in technology will not be able to keep up. As a result, business’ ideology must adapt and evolve as well, from a product-centric focus to a customer-centric one. Never before has customer centricity been as important as it is now. It is a completely…

Having a rewards program may be the best choice for your business, as it creates an incentive for the customer to return, however, this strategy is not foolproof. Consumers can often be repelled by these offers because they are an everyday nuisance or brings no benefit to them. The ‘seven deadly sins of loyalty marketing’, (as described in this article: 7 Deadly Sins), are the important factors in the failure of a rewards program, and by focusing on a few key points, customers will be more likely to join the program. The first mistake is to base your program solely on discounts. Your goal is to form a strong relationship with…

It’s no secret that more and more small businesses are taking on the services of a rewards program provider to bolster their sales and increase customer retention. There are good reasons for this: It works for the big guys – Starbucks, for example, has a well-known loyalty rewards program called My Starbucks Rewards. The coffee juggernaut credited the rewards program for an 11% increase in revenue the second quarter of 2013 – that’s roughly a 3 billion dollar increase in revenue. It’s now cost effective – Thanks to the recent boom in smartphone technology there are many loyalty providers out there. The costs have become reasonable as well. For as little as $200 per month, a small business owner…

Loyalty 3.0 In the retail world, where the emphasis is placed on customer experience, what merchants can offer to consumers is crucial to success. One of the best ways to improve customer experience is to implement a customer loyalty program. The notion of loyalty programs has been around for a number of years and has become one of the best ways a business can provide a better customer experience. The reasons why businesses should use a customer loyalty program has stayed the same, but over the years, the way they function has evolved. These changes offer a whole new set of opportunities for merchants to engage their customers with, and has…