Loyalty Offers / Schemes
What are Loyalty Offers / Schemes?
Loyalty offers and schemes are the exclusive offers, discounts, or promotions offered to customers. These offers and schemes are an effective customer-retention method. They are also used to “win back” customers that have drifted. Loyalty offers recognize and reward valued customers in an effort to retain and encourage them toward advocacy, which increases overall profitability while reducing marketing costs. These offers and schemes target customer behavior. The offer should be simple. The reward should be attractive and attainable, and the cost of the offer should be able to be recovered fairly quickly.