What’s Hot in Rewards? Best Buy’s Secrets for Leveraging Loyalty Points for Merchandise Your Custome
Best Buy | October 04, 2012

The idea of loyalty programs and loyalty cards was developed to encourage people to purchase, purchase again, and purchase more often. The gamification concept became mainstream in the 70’s and is now more popular than ever with most consumers carrying over 18 loyalty cards (COLLOQUY, 2011).

Loyalty program commitment continues to grow and over 80% of brands voiced that program funding will continue or even increase into 2013, according to a recent benchmark finding by Forrester (Forrester , 2012). As brands continue to stand firm in their commitment to the growth and development of reward and incentive programs, it is important to take a closer look at how best to leverage these programs in order to drive revenue growth, increase customer acquisition and retention, and maximize the lifetime value of each participant.

At the heart of any rewards currency is customer value. Loyalty marketers understand that creating the best user experience often can be at odds with minimizing expenses and generating program profitability. However, investing in well-designed, loyalty-inspiring marketing strategies will excel enthusiastic member engagement. 

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