Increase Customer Loyalty by Launching a Coalition Loyalty Programme
Eight major companies have combined forces to launch a coalition loyalty programme based in the US.
While there are many ways to increase customer loyalty, one of the most recognised ones is introducing a loyalty scheme to reward your customers for continuing to buy your products or services.
As Martine Reardon, chief marketing officer at Macy’s, said: "Consumers today are busy and smart. They know good value, and they want to be rewarded for the dollars they spend day in and day out at their favorite stores."
While you can set up one specific to your company, such as 7-Eleven’s new 7Rewards, you can also combine forces with other brands to create a nationwide scheme, such as the Nectar loyalty card in the UK.
And s recent America Express study has found that a majority of 72 per cent of American consumers prefer the latter; a rewards programme that allows them to shop at many different stores, rather than just the one brand.
As a result, the financial services company has partnered up with AT&T, ExxonMobil, Macy's, Nationwide, Rite Aid, Direct Energy and Hulu to launch Plenti, the first US-based coalition loyalty programme, which will launch in the spring.
Ed Gilligan, president at American Express, said that it is "a perfect time" for a coalition loyalty programme in the US as online marketing becomes more efficient and American consumers become more accustomed to rewards programs, special offers and discounts.
The new loyalty scheme will be free to join and customers can earn points in different ways at each participating company, as well as receive additional value through product offers and special discounts.
Every 1,000 points saved will translate to at least $10 in savings, and Plenti members can earn points faster by activating special promotional offers across participating brands or through Plenti's online offer center and dedicated online marketplace.
And providing a rewards scheme isn’t just about increasing customer loyalty. As David Christopher, chief marketing officer at AT&T Mobility, said: "One of the most important things we can do for our customers is to show that we appreciate them. We are excited to join Plenti as it is a unique way of saying thank you."