In the movie Up in the Air, George Clooney's character is a consultant obsessed with loyalty programs. His goal is to reach 10 million frequent flier miles and have a plane named after him. But what companies can actually take their loyalty programs that far? How far can you go to keep loyal customers interested and reaching for more?

Many companies offer loyalty programs, designed to reward the most loyal customers and make sure they build share of wallet. They have a progression path, tiers to be reached, and higher and higher privileges that members aspire to achieve. So what happens when a customer reaches the top of the pyramid? How do you keep the spark of the initial relationship going strong?

Continue reading "Customer Loyalty's Seven-Year Itch" »

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As the global economy continues to show signs of strength, retail industry CEOs and other senior executives are laser-focused on two areas: revenue growth and customer acquisition. Recent market indicators have been encouraging. For example, general U.S. retail sales rose 0.5 percent in April, according to Market News.

Continue reading "Customer Strategist Orkun Oguz: Strengthening Loyalty Programs to Retain High-Value Customers" »

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Common wisdom says that all companies should have a loyalty program to reward customers based on how much they spend. But in this time where pinching pennies is chic and frugality rules, much of the population gets left out in the proverbial loyalty cold. In addition, brands with low absolute margins themselves get marginalized because they can't financially justify enough monetary rewards for customers.

Loyalty is about more than how much money is spent. So why create a loyalty program that sticks to the old rules of points and discounts?

Continue reading "Customer Strategist Matthew Rhoden:
Your Wallet Does Not Dictate Your Loyalty. So Why Does It Dictate Your Loyalty Program?" »

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