Week 9 DiscussionCOLLAPSE Loyalty Programs Think about your favorite loyalty pro
Week 9 DiscussionCOLLAPSE
Loyalty Programs
Think about your favorite loyalty program.
Briefly describe the program, what it does, and how it is used.
What are its benefits to the customer and the marketer?
How does the program entice the customer to keep using it?
How does it impact the competitive landscape?
Post your initial response by Wednesday, midnight of your time zone, and reply to at least 2 of your classmates’ initial posts by Sunday, midnight of your time zone.
Response 1
There are many loyalty reward programs that I have signed up for because, at one point or another, they offer me some discount or saving on regularly bought items. The most prominent reward programs that are going right now are supermarket loyalty programs that also tie into saving when you fuel up. There are many rewards programs; organizations have to be smart on which one they pick to derive the most out of the experience while retaining and increasing costumers. Choosing the right program can set a company apart from the rest. Recognizable brand loyalty program users also serve as marketers for the brand at no extra cost (1).
I like to travel a lot, not now due to the current situation, but my favorite past time is going place. As such, I needed a loyalty program that would allow me to save up for the next trip; my favorite loyalty program is the Wyndham Rewards program. The program consists of a small conglomerate of hotels that appeal to middle-class consumers and travelers. The way it works is you stay at any of the hotels that offer the program and accumulate points for free nights at any hotel within the group; this could be national or international. I opted to be part of their credit union because by joining their credit line, I accumulated more points not only for the stays but also for any purchase I made with the card. I enjoyed being part of this program for the past ten years, although the hotels’ quality has diminished significantly in recent years. I am starting to wonder if the quality has declined due to the more significant number of hotels being added to the program or if the program took a life of its own. It no longer focuses on customer satisfaction to maintain relevance. I continue to use them and accrue points; but, my most significant incentive when I first joined was that the hotels were exceptionally taken care of. With the hotel quality being lowered, I am starting to look into higher-end hotel loyalty programs (2).
The customer’s benefits are the ability to accumulate points for nights off at hotels, get enough points, and have a nice vacation somewhere; their customer service is well developed. The marketer serves to move along brand recognition and increase the number of consumers who participate in the program and stay at the locations, driving up profit. Additionally, brands benefit from consumers being in loyalty programs as the metrics of what consumers can serve as a guide for which direction the market is fairing better and what the customer wants to buy from specific locations or brands (3).
Since I am now part of their credit line, I can say how they keep me as a consumer when I am not going to places as much is with their credit line promotions, you can get up to a year with no interest. When making big purchases, this is a nice incentive to use their card. I believe the company that sponsors this program needs to re-evaluate its program benefits, especially during the pandemic, because there are several hotel loyalty programs out there for the consumer who is looking for quality for the price.
Regards,
Adriana
Oszi, T. (2020). How to Create a Customer Loyalty Program: A Definitive Guide (2020). https://antavo.com/blog/customer-loyalty-programs
Wyndham Rewards Loyalty Program: Earn Points Worldwide. (n.d.). https://www.wyndhamhotels.com/wyndham-rewards
Smith, E. (2019). What Consumers Want in a Loyalty Program. https://www.commercialwebservices.com/blog/2019/03/21/what-consumers-want-in-a-loyalty-program/
Response 2
Almost every business out there nowadays has their own loyalty program. They all provide different services, coupons, and benefits to keep the customers loyal, engaged, and drive them to stay connected with the service or their program they are providing. My favorite loyalty program is the Apple Card. Compared to the rest of the credit cards, they stand apart by being unique and provide benefits no other credit cards out there can do the same. Their “No fees” whatsoever policy is something that attracted me personally, but what keeps me connecting with them and happy to use their card over and over and at all times; is their daily reward program, or as they call it “Unlimited Daily Cash Back” (Apple, 1). Not that it’s just unlimited but it’s also available for my use right away rather than waiting for the billing cycle to end.
The cards life data available for me right there and then on my phone is another service I enjoy, that helps me understanding my spending better, and it keeps me and other customers ensuring to return for more to use the card. All this increases Apple’s revenues which allows them to stand out among the other credit cards. Off course the best part of the card is the no interest fees for Apple products promotions with the additional 3% cash back reward.
References:
Apple Card. https://apply.applecard.apple/301/?cid=apy-310-100000070000-100000000000025-301100000000066&utm_content=universal&utm_vendorid=100000070000&utm_searchgroup=brandcore&utm_cmpid=7630174076&utm_adgid=80938614603&utm_adid=434048134975&utm_tgtid=kwd-12539470&ckid=1&gclid=CjwKCAjw4rf6BRAvEiwAn2Q76sTKvzos26y6jmHuJs-e_pn__mSwY40_7uYWx1YS9zBt0Q4aHLTAiRoCjXgQAvD_BwE
The post Week 9 DiscussionCOLLAPSE
Loyalty Programs
Think about your favorite loyalty pro appeared first on homework handlers.
