Companies of all types, big and small, want your business, and they’re willing to reward you for your purchases through customer loyalty programs. Chances are you already belong to at least one. Since the first loyalty program came on the scene over fifty years ago, more businesses than ever have initiated a loyalty program tailored to their customers needs.
While banks, gas stations, and grocery stores were among the first to use a loyalty program, the concept has exploded over the last few years. Now restaurants, credit card companies, department stores, insurance companies and many more have joined in. A loyalty program keeps customers coming back, and attracts new ones by offering discounts, free services, new products and even cash back for purchases.
Ever been a member of a frequent flyer program or a hotel rewards club? Then you’ve participated in a loyalty program. In fact, those are two of the longest running loyalty programs still active today. With a constantly fluctuating economy, businesses are keenly aware that modern consumers have many choices available to them as to where and how they want to spend their money. However, when given the choice between two similar companies, offering the same services, a savvy consumer will choose the business that rewards the customer for their loyal patronage. The more competitive the marketplace, the more generous the loyalty program is likely to be.
Businesses benefit from customer loyalty programs. Companies obviously enjoy revenues generated by repeat business. As a consumer, you can cash in big by participating in a loyalty program, especially with the businesses you frequent the most. The sky is full of people flying for free, thanks to generous frequent flyer miles. How about pricey resorts or luxury hotels? Why shell out your hard-earned cash when you can earn free nights at top tier hotels simply by staying at their lesser tier properties at much lower rates?
More companies than ever before are offering some form of loyalty program, with new ones being introduced each month. If you haven’t seen an offer for your favorite store, credit card or service provider, contact a customer service representative or the marketing department. They probably have one available. Get signed up and soon you can cash in big with a loyalty program!