Please use your own words

Module 1 Application - Loyalty/Rewards Programs Discussion

Think about the concepts discussed in Chapters 1 & 2 of the "The Forever Transaction" and what you now know about CRM.

1) Using this knowledge, suggest a significant improvement that could be made to a loyalty/rewards program where you currently shop.

If you are struggling with this content, think about the deficiencies of some of these loyalty programs where you do business. Do they create a "forever transaction" or are they simply being used as a way for the company to collect your data and spam you with marketing?

Some items to consider are: What features or benefits could be increased for you, the consumer? How can this suggested improvement you're considering increase CLV (customer lifetime value), frequency of purchases, total share of wallet (monetary amount of purchases), etc. for the company? How would this improvement move the company away from a "transactional relationship" with the customer and toward a "forever relationship"? What would get you to be more loyal as a consumer? That's what companies need to be contemplating when they are evaluating CRM efforts, of which loyalty/rewards programs are a significant part.