Loyalty Management: From Loyalty Programs to Customer Experiences

Customer loyalty refers to a customer's inclination to repetitively buy products and services from the same company. Attracting and maintaining the consumer base has a big impact on the retail industry. As the competition intensifies, majority of the marketers see loyal consumers as one of the most important factors in enhancing profitability and achieving success. Loyal customers buy more frequently and spend more money along with spreading favorable word-of-mouth. Companies design customer loyalty programs under which the loyal customers are offered rewards such as discounts, free merchandise, coupons, or even advance-released products in order to reward and encourage their loyalty. Customer loyalty management aims to expand and maintain existing customers by coordinating marketing and promotional activities to build customer loyalty and trust while also encouraging repeat purchases. Ensuring a positive customer experience is also a way in which the companies can build customer loyalty. Customer experience involves virtual interaction, physical interaction and service interaction. The topics covered in this extensive book deal with the core aspects of loyalty management. It will prove to be immensely beneficial to students and researchers in this area of marketing.