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5 Different Types of Loyalty Programs

<br>Most of the companies now a days are adopting different types of loyalty programs to widen their new market reach and acquire new customers.

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5 Different Types of Loyalty Programs

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  1. 5 Different Types of Loyalty Programs

  2. Introduction Loyalty Program is a popular marketing strategy used by many business to increase their sales or revenue by retaining a customer for a long period of time.

  3. Benefits of Loyalty Programs • Turning Customers into Brand Loyalists • Retaining Existing Customers • Build Better Relationships with Customers • Get New Customers • Brand Reputation get improved.

  4. Types of Lotalty Programs • Channel Loyalty Program • Influencer Loyalty Program • Consumer Loyalty Program • Cash Back Loyalty Program • Premium Loyalty Program

  5. Channel Lotalty Programs Chanel Loyalty Program is an essential element when it comes to the growth of a business. It focuses on building healthy, professional relationship with channel partners such as- dealers, distributor, wholesalers who help you to sell your product.

  6. Influencer Lotalty Programs Widen Your Brand by connecting various influencers and promote or sell your product via influencers is known as Influencer Loyalty Program. Business like construction, restaurants, TMT bars uses this strategy to acquire new customers for their brand.

  7. Consumer Lotalty Programs It is an effective marketing strategy to encourage customers to associated with their brand and buy their product repeatedly. Whenever a customer buys any product, it generally rewards customer. These rewards include discounts, redeem points, free voucher or coupon etc.

  8. Cash Back Lotalty Programs This loyalty program provides customers an incentive based reward by giving them back a certain percentage of amount spend. In this way, it helps as well as encourages customers to become a brand loyalists.

  9. Premium Lotalty Programs One of the most common loyalty program now a days used by various brands. It gives customers an opportunity to become their premium customers to avail special benefits. Amazon Prime, Netflix, Apollo are some of the popular brands who extensively uses this program.

  10. Conclusions If you are a small brand, want to widen your market reach, then loyalty programs are your must go to goal. There exist several loyalty program companies whom you can seek help in this purpose.

  11. Thank You

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