The CEO wants a customer loyalty program refresh — now. He's pushing a modern points structure as the end-all, be-all. But you're wondering: Are points still the way to go? If your instincts tell you there's more to building customer loyalty in today's world than points and prizes, you're right.
If you're like many retailers, you started thinking about customer relationship marketing (CRM) in terms of a loyalty program tied to a private label credit card. Later, you might have converted it to a tender-neutral program. Today, you may be pulling in customer data from myriad sources not even related to that loyalty program. And you may find yourself facing a complex array of questions, not the least of which is, "What is this thing we've created?" If you're confused, imagine how your customers feel. Before you can help them and ultimately help your company maximize its CRM and loyalty efforts, you first need to get a firm grasp on these two distinct disciplines.