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Mutual benefits in so many aspects on a short and long term.
A loyalty scheme built around customer incentives will have the following advantages;
1. Retention of customers
2. Acquire new customer
3. Increased customer footfall
4. Marketing through positive word of mouth
5. Insight of customer spending behavior enables the organization to directly market their upcoming brands
6. Can easily identify regular and occasional customers
7. Easily covert occasional customer into regular customer by promoting right kind of deals/incentives
8. Direct customer interaction based on buying patterens
Effective loyalty schemes can keep existing customers, build loyalty and increase new customers even in a recession as well. In addition these schemes can provide a great measuring tool. In other words, the loyalty scheme shows that how deeply customers are respected, while at the same time, the company is able to track and identify customer habits such as spending, behaviors and trends.
Advantages for loyalty schemes for the costumers are that they receive a discount when they go shopping and save money.
Thank You all very much for your participation, i agree with you sirs.
Customer loyalty schemes are an effective way to improve your customer-retention levels.
Loyalty initiatives allow you to focus on your best customers and improve customer satisfaction levels.
Loyal customers are also good for your business because they become your best advocates.
Customers like loyalty schemes because they feel they are getting rewarded for giving you their business.
The rewards you offer to regular customers can vary from fixed discounts to extra goods or prizes.
The data generated by a loyalty scheme can also be used to improve your bottom line.
Loyalty schemes can also be used to win back lapsed customers.
The data generated by a loyalty scheme can offer other valuable insights.
you can be promoted a position and take good salary, or the company will give the trust in you and happy for your service.
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