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6 Types of Customer Loyalty Programs That Work for All Businesses

Studies suggest that around 84% of consumers are more likely to stick to a brand that runs a loyalty program. This is the reason why more than 90% of brands run a loyalty program today. Loyalty programs can definitely drive immense success to a business, but only when they are executed in the right manner. The best loyalty program for a business depends on various factors, including the type of business, the customer base, and the business objectives. Choosing the right program for your brand might be a real challenge. However, there are some common types of loyalty programs that work for almo

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6 Types of Customer Loyalty Programs That Work for All Businesses

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  1. 6 Types of Customer Loyalty Programs That Work for All Businesses Rewards Points-Based Programs Reward Point-based programs are one of the most widely used loyalty programs by businesses of every type. These programs are being used since the 1700s and are still considered one of the most successful strategies to win customer loyalty. 01 Cashback-Based Programs The cashback-based programs are the second most popular type of loyalty program after reward-based ones. 02 Tier-Based Loyalty Programs Tier-based loyalty programs also work well for almost every type of business. Though these are less popular compared to the rewards and cashback-based programs, many businesses are now running tiered loyalty programs as these can be amazingly successful if implemented correctly. 03 Punch Card Programs Punch Card-based programs are one of the most traditional loyalty programs that businesses have been using for several decades. This program is one of the most effective strategies to drive repeat business and boost customer loyalty. 04 Subscription-Based Loyalty Programs Subscription-based loyalty programs are less preferred but are one of the most successful loyalty programs. In this type of program, customers need to pay in order to participate and earn the benefits of the loyalty program. 05 Charity-Based Loyalty Programs Charity-based loyalty programs are quite unique yet one of the most effective customer loyalty programs run by businesses. These programs are very similar to rewards-based programs other than the redemption process. 06 www.rewardport.in

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