Janet Kraus writes:
Customer loyalty--it's a phrase we hear repeatedly, yet its meaning is still often convoluted. For some, customer loyalty means customer satisfaction. For others, customer loyalty refers to increased spend levels. While the idea certainly encompasses both of these views, we need to take the concept one step further to see its real payoff: customer referrals.
A recommendation is perhaps one of the strongest signs of loyalty, because making a referral goes beyond being satisfied. A customer who makes a referral is putting his own reputation on the line--and takes this risk only if he is loyal.
What type of reward is most effective?
What ignites their emotions (and loyalty) are awards that appeal to their dreams and desires, personalized experiences that relate to their age, lifestyle, and culture, and provide them with lasting memories.We are seeing a number of leading brands embracing experiential rewards as an opportunity to broaden their portfolio of award offerings, differentiate themselves from competitors, and create more meaningful and memorable interactions with their customers.
By offering customers the ability to choose their own rewards, you are giving them the opportunity to create personal and lasting memories. Each time the customer looks back on the experience, he will relive the emotion of the award and appreciate the company that gave it to him, strengthening his bond with the company, fueling his loyalty, and reinforcing his desire to refer the company to his friends.
thro' destinationcrm