“We want Prime to be such a good value, you’d be irresponsible not to be a member.” – Jeff Bezos, CEO of Amazon
This was the exact same words that Jeff Bezos told his employees when they launched Amazon Prime. Top retail giant Amazon focused on their loyalty program which enabled them to reach $100 billion annual revenue and be the fastest growing company in the world.
Bezos emphasized that their company must focus on making their customers happy and satisfied and Incentivizing their loyalty could make that happen.
MERCURY DRUG’S “SUKI” CARD
SM SUPERMALL’S “ADVANTAGE” CARD
With over 50 malls worldwide, SM Supermalls continues to be the top retail stores in the Philippines.
Since the launch of SM advantage card in 2002, The loyalty reward programs continue to be the premier program in the country
In fact, they have more than nine million members.
Or Around 1 out of 10 Filipinos have SM Advantage Card. Could you believe that?
Alluring their customers with discounts and perks, Filipinos are most likely to SM than their competitors because of the advantage that they get.
NATIONAL BOOKSTORE’S “LAKING NATIONAL” CARD
As a premier bookstore in the Philippines, one of their key brand strategies is to make their customers stay. “Laking national” is such a strong branding that it makes you remember that you started buying school supplies from their store.
They leverage the fact that they are the only player in the market in the 1960s who are selling books and school supplies.
These three companies mentioned above are successful cases of loyalty programs. The question now is, why can’t others follow the same?
HERE ARE THE TOP FACTORS THAT HINDERS COMPANIES TO LAUNCH SUCCESSFUL LOYALTY PROGRAM
- Lack of System that can make it happen
- The high cost of launching a loyalty program
- Lack of market study if the program would work
GURU TIP:
Good loyalty program is something that every business must implement. If you want your loyal customers to stay, you have to let them know that they matter to you. And you could convey that through launching a loyalty program now.
A few years from now, all our transactions will be cardless. Be ahead of the competition and be one of the few companies who offer a digital loyalty program. We definitely could help you pull it off.
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