When businesses start to consider ways to use and collect data, many consider the benefits of a loyalty program. Sometimes referred to as a "consumer rewards program," these plans establish a way for businesses to retain customers and provide customers with special deals like price cuts, free rewards, or other perks.
To best understand your customers and inform the best loyalty program, make sure to leverage high-quality customer data. Trustworthy data can provide a robust view of who your customers are, buying habits, preferred communication channels, and more.
Leveraging customer data for loyalty programs also gives you a chance to show your customers that you are being smart with the data they are willing to share with you. Here's everything you need to know about loyalty programs, including three popular brands that are doing it right.