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An Innovation in Loyalty: Coalition Loyalty Programs
Manage episode 366596134 series 3446509
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Companies are interested in customer loyalty programs in order to improve customer retention and loyalty. These programs reward customers for their purchases and desirable interaction with the business. In this podcast, we are going to discuss one of the efficient loyalty programs named the coalition program(https://www.retyn.ai/program-types/coalition-loyalty ), how it helps businesses retain more customers, the features and functionalities of coalition loyalty programs, etc.
Coalition rewards programs provide a great opportunity for businesses to work together in order to deliver better value for customers. The program allows customers to earn points from multiple companies and redeem them for rewards at a cost that will be less than if each company had its own standalone program.
The coalition loyalty program has a few key benefits that can help your business. The customers are incentivized(https://www.forbes.com/sites/theyec/2018/11/19/how-to-incentivize-customers-to-promote-your-brand/ ) with rewards for their purchases and other customer engagement(https://www.techtarget.com/searchcustomerexperience/definition/customer-engagement ) activities. In these programs, the customers earn points and redeem rewards only from the respective company that runs the program. The coalition loyalty program allows customers to redeem their earned points with multiple member companies which helps in keeping them active within the coalition loyalty program.
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