Written into a cost-of-living squeeze, and argues that a points scheme is not a loyalty strategy. Loyalty is the accumulation of every interaction, so it is won and lost in service and communication rather than in rewards — and in a downturn customers want the price rise explained as much as they want a discount. The gap it turns on is that most brands believe they understand their customers and almost none of their customers agree.
“Loyalty is no longer about points or programs; it's about how you build a relationship with a customer based on every single interaction.”READ ON FORBES →