Cover art for podcast The Loyalty Minute

The Loyalty Minute

96 EpisodesProduced by Rob GalloWebsite

One Podcast, Two Styles:1. A daily one minute briefing on the latest trends, statistics and industry news in the world of customer loyalty. 2. A weekly conversational style interview with marketing experts and business leaders sharing insightful and entertaining stories about customer loyalty.For cu… read more

1:54

Episode 14 - Top 3 Mistakes Loyalty Programs Are Making

Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking a the top three mistakes most loyalty programs are making.

First let’s start off with a little fact that the average person in the US is a member of 19 loyalty programs according to the 2017 Colloquy loyalty census (and I have a junk drawer full of them to prove it).  But of those 19, how many does the average person use…? About 4 and a half, and they are primarily one from each vertical market.  Hotel, Airline, Fuel restaurant, casino…

This is why it’s critical for your brand to continually be innovating and thinking of new ways to engage with your customer and loyalty members…  Anyway, I digress.  On to the top three mistakes most loyalty programs make...

  1. Lack of Rewards: If the average customer can’t see herself attaining a reward level, she will move on, and in fact 57% of loyalty members do just that...
  2.  Over-Discounting: Low prices are attractive to many customers, but if it cuts into your bottom line and those loyal members become unprofitable, that defeats the purpose from a business model standpoint.
  3. Lack of Convenience: This may be the most important mistake to avoid. Agin, think of the 18 other loyalty programs your customer belongs to, if yours is not convenient, easy to use and relevant to their needs, you need to rethink your approach.

To learn more about this study, and how to effectively fix these mistakes, I encourage to reach out to me personally at theloayltyminute.com  Enjoy!

--- Send in a voice message: https://anchor.fm/rob-gallo/message
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