Keeping Customers and Cutting Costs with Gift, Loyalty, and Prepaid Programs
- Mar 26, 2014
Small business owners have traditionally won customer loyalty through personalized service, knowing their customers, and being close to their communities. From time to time they have implemented things like punch cards or “buy 10 get one free” programs. But complicated points programs and fancy rewards formulas have always seemed the province of large companies that wanted something to compete with the personal touch of a small business.
This paper explores the prepaid and loyalty landscapes in the United States, why companies might consider offering these types of programs to their customers, and how to think about developing the right strategy to implement them.