In short, today’s customers demand personal respect as standard.
As expectations heighten, marketers’ questions multiply. How can they help customers decide between the products or services they’ll try once and the ones they’ll revisit year after year? How can a brand's status be transformed from a nice-to-have to a must-have? How can customers distinguish an unforgettable brand from merely a recognised one?
Richard Branson said it well in his Virgin farewell post: “Businesses come and go, but beloved brands make lasting impressions and remain in your heart.”
In its broadest definition, loyalty marketing answers those challenges. The conscious decision by marketers to create a valued, valuable, and consistent experience; to reward returning customers in any number of inspiring and relevant ways; and to recognize them as individuals with courtesy and respect — these are fundamental principles of advanced loyalty thinking.
Arguably, the surest path to sustained business growth and profitability is through strengthening mutually beneficial and highly personal relationships — rather than devising marginal product variants or chasing elusive new customer segments.
Loyalty marketing is much more than points on a card, effective though it may be. Intelligent loyalty marketing is a holistic business strategy, an investment in sustained customer affiliation and advocacy.
It’s a superior way of doing business — not just a ploy to keep customers on the hook.