Types of Customer Loyalty Programmes

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Types of Customer Loyalty Programs
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• There are 3 main types of CUSTOMER LOYALTY
  PROGRAMS.
• Frequency Loyalty Program
• Earn Points Exchange for Rewards
• Cash Back Loyalty Program
• Lets Go Through Them One by One

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Frequency Loyalty Program

• This loyalty rewards program encourages the
  customers to buy more.
• For example If a customer has bought 4 items
  then he gets the 5th one free.
• Therefore by rewarding the customer on the 5th
  purchase this loyalty scheme helps increase sales.

Loyalty rewards programs
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Frequency Loyalty Program

• PROS
• This is the simplest type of customer loyalty
  programme.
• It is easy and cost effective to set up this
  customer rewards program.
• It allows businesses to set up tiers to reward
  increase in levels of purchase behavior.

customer loyalty programme
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Frequency Loyalty Program

• CONS
• The Downside of this customer loyalty program is
  that its too simple.
• Its simplicity does not allow companies to
  collect customer information.
• You lose valuable data which can otherwise be
  used in further marketing efforts.

customer loyalty program
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Earn Points To Get Rewards

• In this type of customer rewards program
  customers earn points on each purchase.
• These points can then be exchanged for rewards.
• Rewards can be weekend getaways, movie tickets,
  spa etc.

Customer rewards programs
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Earn Points To Get Rewards

• PROS
• Its a simple process for customer to
  understand, set up and follow.
• Once rewarded customers remember their rewards
  for a long time which encourages them to stay
  loyal to your products and services.

Rewards programs
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Earn Points To Get Rewards

• CONS
• This customer loyalty program needs a careful
  system to track points correctly.
• Since there is no instant gratification for
  customers, they could lose interest in the
  programme and abandon it.
• Customers constantly need to be reminded of the
  points they have earned.

customer loyalty program
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Cash Back Loyalty Program

• In this type of Rewards Programme, your
  customers will earn money after crossing a
  certain spend limit.
• They can then spend this earned cash on their
  future purchases.

best reward programme
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Cash Back Loyalty Program

• PROS
• It is a simple system to set up and follow.
• Customers love the idea of earning money by
  spending money which encourages them to come to
  you more frequently.

Loyalty Programme
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Cash Back Loyalty Program

• CONS
• You may not be able to attract customers in low
  spending category using this type of Loyalty
  Program.
• It may not be suitable for businesses where the
  customers have no need to frequent your store.

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• There are many different types of customer
  loyalty programs.
• We just discussed 3 basic types in brief.
• Hope this was helpful and gave you a better idea
  about loyalty programs their Benefits.

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About GK Value Reward Customer Loyalty Programme
Jamaica
GraceKennedy Value Rewards programme has
partnered with numerous brands and businesses to
create exciting reward packages ranging from
entertainment and personal care services to gifts
and special discounts. Customers have the
freedom to choose the reward they desire based on
the points they've earned.GKVR participating
subsidiaries, Hi-Lo, GK General Insurance, First
Global Bank, Bill Express and FX Trader.
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GRACEKENNEDY Value Reward Program
NOT a Member YET??? Sign up for rewards For
Free!!! For More Information Call Us At
1-888-429-5458 Write To Us At gkvaluerewards_at_gkco
.com Website https//www.gkvaluerewards.com