McDonald's, Taco Bell, and other major food brands have been investing heavily in their loyalty programs, and with good reason: Every profitable venture is built on the love of its loyal customers, and these kinds of programs make loyalty a priority. After all, it's much easier to serve an existing customer than it is to find a new one.
Think of a loyalty program this way: It's a wholesome club that feels exclusive enough to make membership desirable, while also collective enough to make everyone feel like they're part of something bigger. In a loyalty program, your brand is the host of the party-and its biggest star. Your customers are there because, so long as you treat them right, they have every intention of coming back. The longer a loyalty program's life cycle, the bigger the spend and better the profit.
So how can you maximize this relationship? Here are three ways.
Offer value that can be earned, not bought.
Diese Geschichte stammt aus der Startups Summer 2022-Ausgabe von Entrepreneur US.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Startups Summer 2022-Ausgabe von Entrepreneur US.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Charities Are Getting Down to Business
Nonprofits are struggling. That's why more charitable leaders are taking a page from their for-profit peers-and learning how to make money.
HOW TO ASK SOMEONE FOR A MILLION DOLLARS
Philanthropic fundraisers often get donors to give $1 million-and their tactics are useful for anyone trying to win over someone else's dollars.
MAKE YOUR FIRST TAX-FREE MILLION
It's legal, smart, and great for your long-term savings.
MAKE A MILLION DOLLARS IN A WEEKEND?
OK, you won’t earn it ina weekend. But serial entrepreneur NOAH KAGAN says you can start a thriving business quickly—if you’re willing to move fast and be uncomfortable.
THE MILLION-DOLLAR MEETING
Once your company hits a million dollars in revenue, many more investors (and private equity buyers) will start taking your calls. Here's why.
MILLION-DOLLAR UNLOCKS
New companies rarely get off the ground without some roadblocks, setbacks, and unforeseen decisions. Here, 10 founders describe the pivots that unlocked their growth and catapulted their profitability.
THE PATH TO MILLIONS STARTS HERE
A million dollars sounds sexy. But what is it, really? For some, a dream.
What SEO Insiders Know
Looking to boost your SEO? We asked a bunch of insiders: What do you know about your industry that most outsiders don't?
Pack These for Your Next Trip
Want to make your next business trip a pleasure? Gear expert and two-time Emmy Award winner Mario Armstrong has five items you'll want to make room for.
Finding Your Dimension X
Why do some people thrive, while others fall behind? As Google's first chief innovation evangelist, I believe I found the answer: Successful people harness what I call their \"Dimension X.\" Here's what it is.