Loyalty program

Loyalty program

A initiative by a company to incentivize repeat purchases and customer loyalty by offering rewards, discounts, or exclusive benefits.

These programs aim to retain existing customers, drive revenue, and enhance brand reputation by fostering trust and incentivizing continued engagement. By encouraging loyalty, these programs reduce customer acquisition costs, increase sales, and attract new customers through positive word-of-mouth and referrals. Additionally, they provide businesses with valuable customer data and insights for targeted marketing efforts and personalized experiences, contributing to long-term profitability and growth.

Related Terms

Brand Affinity

It is the level of positive association and emotional connection that consumers have with a particular

Advertising Allowance

Also referred to as marketing co-op allowance or promotional allowance, it is the dollar amount that