Loyalty Program might be the oldest marketing trick in the book; however, it remains one of the most effective ways to get consumers to stay with a company. It creates a deeper connection between customers and business, which in turn leads to increased spending during each visit. The philosophy is unimaginatively simple: retain customers by incentivizing them for buying, and so build customer trust.
But do you know its evolution?
Loyalty Programs History
The history of Loyalty Programs can be traced back to the late 18th century, when American retailers gave customers copper coins to redeem later. This was, however, very costly, inconvenient, and not flexible. For over 3 centuries, loyalty programs have evolved in numerous forms to fit the season and time.
How to identify which type of Loyalty Program fits your business
will help analyze your situation and build an effective Loyalty Program from scratch.
Especially, if you are running an O2O business and want to focus on seamless customer experience, please keep reading our next article Traditional loyalty programs can’t handle the digital age – The rise of Omnichannel Loyalty Programs.