Jasz
VIP Contributor
Reward programs are a great way to thank your customers for their loyalty. They can also be used as a way to get people to buy more from you. Some businesses use them as both.
Reward programs come in many different shapes and sizes, but they all have one thing in common: they give you something extra for doing business with a company. The rewards may be small or large, but they’re always welcome!
A credit card reward program is an excellent example of a customer loyalty program that can also increase sales. The most popular cards offer points for purchases made with the card. These points can then be redeemed for gift , travel certificates, cash back or other items of value. For example, if you spend $1,000 on your credit card in January and earn 1 point per dollar spent, at the end of the month you’ll have 1,000 points worth $10 in cash back or rewards. If you didn’t have the card, those same 1,000 dollars would only earn $1 in cash back or rewards at most stores where rewards are offered—and probably less than that since most stores don’t offer much beyond 1% back on purchases made with their own store cards.
Reward programs come in many different shapes and sizes, but they all have one thing in common: they give you something extra for doing business with a company. The rewards may be small or large, but they’re always welcome!
A credit card reward program is an excellent example of a customer loyalty program that can also increase sales. The most popular cards offer points for purchases made with the card. These points can then be redeemed for gift , travel certificates, cash back or other items of value. For example, if you spend $1,000 on your credit card in January and earn 1 point per dollar spent, at the end of the month you’ll have 1,000 points worth $10 in cash back or rewards. If you didn’t have the card, those same 1,000 dollars would only earn $1 in cash back or rewards at most stores where rewards are offered—and probably less than that since most stores don’t offer much beyond 1% back on purchases made with their own store cards.
