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I’ve often been blown away by the shear arrogance of A-School MBS students doing corporate consulting. They throw around buzz-words like it is going out of style, think their feces doesn’t stink, and think they are smarter than everyone else out to save every business, agency, NGO, and corporation from sure disaster. Personally, I find such un-earned ego underwhelming and quite frankly dangerous. Worse, many go and start consulting firms having never raised a business from weed to seed or from start-up to big brand name. Let’s talk.Business Benefits of Customer Loyalty Programs
Today, loyalty programs have become a common feature among companies and business organizations. They have started implementing various projects not only to retain their existing customers, but also to attract new ones.Various Types of Loyalty Programs
We can say that Customer Loyalty can be both a behavioural and attitudinal tendency to give preference to a brand over others, due to various factors like being satisfied with the service or product, its performance or convenience or just being familiar and comfortable with a particular brand. The advantage of customer loyalty is that it motivates customers to buy more consistently, spending a sizable portion of their wallet and feeling positive about their shopping experience. This turn attracts customers to customary brands in an environment of stiff competition.