How to use customer incentives to dramatically increase customer loyalty
How to use customer incentives to dramatically increase customer loyalty
This is really the vital question. The customer incentives need to be structured right in order to maximize the revenue they bring to the companies.
Customer incentive programs are not new; they have been around for 100's of years.
In the 1930's stamps were given to customers with purchases from certain merchants and were redeemed after they had collected up to a specified value. In the 1960's supermarkets started giving straight discounts to their consumers.
It is currently estimated that over 50% of the population use at least one customer incentive program, and many do not spend unless there is some kind of incentives program involved in their spending. According to some analysts U.S. companies spend more than $1.2 billion on customer incentives programs.
Consumer’s perspectives on customer incentive programs play a very important role in whether they are profitable and successful. Customer incentive programs are on the rise, the market used to be cornered by airlines credit card companies and hotel rooms, but recently many other companies have found ways to use customer incentive programs.
Customer incentives when used right can generate loyal consumers and attract new ones. One thing that is clear is that these customer incentive programs need to offer incentives based on consumers spending habits and profitability.
How to use customer incentives to dramatically increase customer loyalty - To learn more about this author, visit Sheryl Strasser's Website.
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What is the best customer incentive any company can give?
This is really the vital question. The customer incentives need to be structured right in order to maximize the revenue they bring to the companies.
Customer incentive programs are not new; they have been around for 100's of years.
In the 1930's stamps were given to customers with purchases from certain merchants and were redeemed after they had collected up to a specified value. In the 1960's supermarkets started giving straight discounts to their consumers.
It is currently estimated that over 50% of the population use at least one customer incentive program, and many do not spend unless there is some kind of incentives program involved in their spending. According to some analysts U.S. companies spend more than $1.2 billion on customer incentives programs.
Consumer’s perspectives on customer incentive programs play a very important role in whether they are profitable and successful. Customer incentive programs are on the rise, the market used to be cornered by airlines credit card companies and hotel rooms, but recently many other companies have found ways to use customer incentive programs.
Customer incentives when used right can generate loyal consumers and attract new ones. One thing that is clear is that these customer incentive programs need to offer incentives based on consumers spending habits and profitability.
How to use customer incentives to dramatically increase customer loyalty - To learn more about this author, visit Sheryl Strasser's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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