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COMPANY LOYALTY EFFORTS

Discuss the benefits and drawbacks of loyalty programs, and learn how to build customer loyalty online. Explore strategies such as frequent shopper programs and other ways to generate loyalty. Also, discover the key aspects that online customers want.

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COMPANY LOYALTY EFFORTS

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  1. LESSON 6.2 COMPANY LOYALTY EFFORTS Discuss the pros and cons of customer loyalty programs Identify how to build customer loyalty on the Web

  2. 6.2 Loyalty Programs • Loyalty programs are programs that reward customers for their business and encourage repeat business.

  3. 6.2 Loyalty Marketing • Loyalty marketing is a strategy where businesses target a marketing effort toward their most valued customers.

  4. 6.2 Frequent Shopper Programs • Benefits of loyalty programs • Increase number of loyal customers • Increase sales • Allow retailers to collect information about buying habits of customers

  5. 6.2 Frequent Shopper Programs • Criticism of loyalty programs • Retailers invade privacy when they collect information on buying habits. • Some programs do not offer savings they claim. • Some companies increase the number of discounted items for program members and decrease discounts for nonmembers. • Savings are offered to only those who buy the most.

  6. 6.2 Other Ways to Generate Loyalty • Offer interesting products that are different from the competition. • Sell items that customers want despite a high price. • Sell merchandise that requires your own service. • Anticipate your customers’ needs and fill them before customers ask.

  7. 6.2 Web-Based Loyalty Efforts • Earn customers’ trust • Offer free products, services, or information • Interact with site visitors • Use surveys to identify what is important to your customers • Keep track of your competitors • Offer loyalty programs

  8. 6.2 What Online Customers Want • Quality product • Good service • Fair price • Reliable and timely delivery • Easy-to-access customer service

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