Compare the loyalty and rewards programs for poker rooms like Full Tilt, PokerStars, BodogLife, Cake Poker, Carbon Poker, and more. The 2. 0 Best Ecommerce Loyalty Programs. Over the last couple months I have been releasing loyalty program examples in different industries. The one comment I keep getting from you (the readers) is to create a larger list of the best ecommerce loyalty programs. This list was put together to give you inspiration when putting together your own loyalty program. If you are considering a loyalty program but are unsure, you can take our free. After each category I will provide a link that will take you to more examples from that particular industry. Loyalty Marketing Best Practices. Loyalty programs are often part and parcel of a comprehensive customer relationship strategy. So welcome to our loyalty marketing best practices section. And not just by a little. Companies can boost profits by almost 1. Reichheld Introduction. Loyalty programs have been used in commerce for many years, originating in Germany where price based competition was disallowed by governmental restrictions in certain industries. In the 1. 95. 0s, S& H Green Stamps rewarded grocery store and gas station customers with stamps redeemable for appliances and other merchandise. The modern day loyalty program was launched in 1. Earn points playing our fabulous range of games and then find out how to earn rewards as you move up the partypoker loyalty levels. American Airlines, and was quickly duplicated by other airlines and other hospitality industries including hotels, car rental companies, and credit card organizations. This was in obvious contrast to banking and telecommunications industries, among others, that have a customer database as part of their regular service offering. Both businesses and consumers have recognized the value of loyalty programs. Only 1. 2% - 1. 5% of customers are loyal to a single retailer, according to the Center for Retail Management at Northwestern University. But that small cadre of shoppers generate between 5. Some food retailers find that as much as 6. In general, loyalty programs are often developed with good intentions but unclear objectives. While retail loyalty programs have many purposes, the greatest value that is created for retailers is the ability to identify individual customers and to measure and understand their individual behaviors. This consumer behavior data far outweighs the . This opportunity is often misunderstood by retailers and consumers alike. The basic benefits of using a loyalty program to obtain customer information are summarized below: - Shift - Acquire new customers - Lift - Increase the spending of existing customers - Retention - Improve the natural churn rate of customers - Profit mix - Shift spending to higher margin products. These loyalty program benefits form the basis for all loyalty program initiatives. Fundamentals of Loyalty Marketing. Poker loyalty bonuses at the top poker sites in 2015. VIP rewards & loyalty bonus cashback comparisons to help choose the best loyalty bonus for you. Online poker rooms are always eager to sign up new players. They’ll offer plenty of promotions and bonuses to get you registered and playing. 5 Best, 5 Worst Customer-Loyalty Programs Starbucks ranks among the best, and supermarkets have some of the worst. Jun 25, 2010 9:30 AM EDT. Discover applicable ideas for customer loyalty programs and learn how you can measure their success. This minimalist approach works best for companies that sell. For loyalty programs, communications used to focus on tangible benefits - what we call the . These are the table stakes. As such, the market has changed in that consumers are demanding more. Rewards have evolved in the marketplace from being a nice little extra for one's loyalty to being perceived as an entitlement (partly the result of the commoditzation of loyalty programs). Concurrently, consumers have shifted, to some extent, away from a desire for possessions to a desire for experiences - partly due to changing demographics. Loyalty programs are often part and parcel of a comprehensive customer relationship strategy. So welcome to our loyalty marketing best practices. Get the best poker VIP program for the poker room of your choice. The poker loyalty deals are the highest and most rewarding offers in the poker industry. Top 5 VIP Program Poker Sites - Get rewarded for your play at the best online poker rooms for VIP and rewards schemes - earn money, points and prizes. Overall, consumers are looking for the meaningful (which includes value and relevance). The rising tide of expectations necessitates that loyalty marketers develop truly innovative loyalty programs, utilizing loyalty marketing best practices. In reading through this page, and this website for that matter, keep in the back of your mind the question of how your program can tap into not only changing lifestyles, but changing attitudes. The answer is not just in the rewards catalog, but in understanding the fundamentals of loyalty marketing. It is estimated by Colloquy (2. US (a 2. 6% increase from their 2. US household participating in 2. Approximately 5. 8% of those memberships were inactive (defined as no engagement within a 1. That is a lot to compete with. As reported in the New York Times, Forrester Research found that across 1. TV service providers and internet service providers proved more fickle. Most interesting is that . Loyalty denotes advocacy and commitment not points. As such, let's start with a primer on loyalty. Read through the embedded Power Point document as it is the best explanation of loyalty marketing that we have ever run across and, surprisingly enough, the fundamentals of which, are not well understood by the executioners of some of the best known loyalty programs. This abridged Power Point presentation was developed by Wunderman's Loyalty Marketing Practice. We strongly encourage you to take a peek. Program Positioning Program differentiation starts with the positioning of your program. Most programs don't have one - hence why so many programs look and act the same. Examples of program positionings are: Air Miles: . We can't emphasize this enough. Develop a vision or positioning for your program, before you even begin developing the mechanics. What do you stand for? Building a Winning Loyalty Program Strategy. Regardless of how you develop your loyalty program - based on hard benefits (e. Too many program designers take short cuts and jump to platform selection or program execution and don't do the basics: Program Objectives Program Positioning. Program Strategies. Financial Analysis Value Proposition. Currency Strategy. Business Analysis. Data Analysis Platform Selection Segmentation & Test Plan Measurement Plan. Exit Strategy. Below you will find a comprehensive loyalty checklist developed by a top Ogilvy & Mather strategist, Michael Szego. Keep in mind, even following this check list, you can never have the perfect program - you can't unless you change and evolve with the market and your customer. Now Michael Szego's check list: Four Phases of Database Development. Program development. Collect data and test. Leverage knowledge. Customer Management. Program Development. Start with the Facts- Conduct an organizational SWOT- Conduct a competitive SWOT- What is the competitive activity?- What are the core objectives of the program?- What do we want the marketing database to do?- What will be the key success factors- How will this program fit with the brand vision?- How will this program fit with the company culture?- Are there any employee issues that must be addressed?- Are there any technology issues that must be addressed?- Why might this project not work?- What is our current sales channel strategy and how will this program affect/enhance it?- What human resource needs will be created by this project?- What financial resources are available to execute this project?- Who will be involved in this project?- Describe the core, highest margin customer?- How will success be measured and over what time frame?- What are the best practices in the field?- What is the number one complaint from our customer feedback system and can this be addressed with the planned loyalty program? Create your Loyalty Program Strategy- What are the objectives of this program?- What are the target groups for the program?- Will the needs of this group also satisfy the needs of our top customers?- What customer needs will it satisfy? Collect Data and Test- Analyze results- Basic reporting structure- Store level reporting- Marketing initiative reporting- Offer tests. Leverage Knowledge- Decile analysis- Integrate data across the organization- RFM analysis. Customer Management- Develop customer management plan- Differential offers by profitability- Churn reports- Supplier program development. Loyalty Program Value Propositions One common mistake Marketers make is in currency selection. Too many decide the value proposition prior to customer research. Ask the question as to whether the currency fits the frequency and the size of the transaction. And does the currency fit with the brand i. In general, many retail loyalty programs are converging into a blend of each particular value proposition. That is, many programs offer points, rebates, discounts or a combination of the program offerings. Rebate Programs/Cash Back. Although similar to discount programs, which are immediate rebate programs allow participants to accrue financial benefits from purchases that are saved up and redeemed after a set threshold or time period. These benefits can be tracked over time but often involved a rebate of a percentage of total purchases over a month or quarter. The rebate is often in the form of a gift certificates to drive customers back to the store. Rebate can be in the form of a dollar value or a percentage value. Pros- Relatively simple to communicate and understand, depending on the offer structure- Although discount based, it avoids the . Although the program can be expensive, the rebate dollars often drive customer back to the store. Discount Programs. As is implied by the name, discount programs are programs that offer a specified percentage off (or a dollar amount for large purchases) of the retail purchase price. This can be product specific or offered on the total basket of purchases. The distinction from rebate programs is rather than accrue the benefits, discount programs typically apply instant benefits to participants at the point of sale. Pros- Simple to consumers- Instant gratification- Deeper discounts can be used tactically- Usually easy to administer. Cons- Discount implies that regular prices are too high- Difficult to exit the program- Can be easily duplicated in the marketplace- Can alienate infrequent shoppers- Discounts affect margins. Discount programs are typically the easiest to administer loyalty program offering. However, discounting products for members is expensive and it is difficult to exit such a program once it is launched. An example of a successful discount program is Canada's oldest, best known, best loved reward program - Canadian Tire Money - often suggested as a replacement for the nation's weak currency. Points Programs. To avoid the negative connotations of discounting, many loyalty programs us a points . Typically, consumers earn additional points by buying goods and services from the issuing retailer and can include bonus products, bonus thresholds and partner opportunities. Pros- The basic premise is simple for consumers to understand- Can be difficult to match because earning and reward thresholds can be easily adjusted - therefore can offer greater competitive advantage- Can allow more targeted, flexible and imaginative promotions e. Well, they are alive and well and there are a number of lessons we can take away from these programs.
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