YouTube service is down globally. This is confirmed by many users on the internet and this is no doubt this is going to be very bad for google. The stock will tank and the revenue loss will be significant from this…
Loyalty Program fails are becoming very common across several industries.
Well in my 15 years of experience, I have seen this happen so many times. Where companies launch a program, get excited then the loyalty program fails.
MoviePass allows members to watch a number of movies a month for a subscription. The business has been struggling for a while due to the increased cost of their business model.
MoviePass leaders have continuously made changes to their business model in hopes to decrease the cost of the program. It started by ending the unlimited watch option which enabled their members to watch an unlimited number of movies every month.
Then moved to capping the number of movies you can watch per day and per month.
How To Build a Loyalty Program?
In this article we will cover the guiding principles for Building a Loyalty Program and if companies should invest in developing one or not!
let’s start by mentioning that in the US alone consumers have more than ONE billion rewards memberships…Imagine how many company was able to take steps needed in building a Loyalty Program!
Amazon announced on Friday announced that it has raised the monthly Amazon Prime membership rate from $10.99 per month to $12.99 per month, an increase of 18%. Amazon was quick to note, however, that the $99 annual membership fee for Amazon Prime will remain the same. Students who were paying $5.49 per month for access to Prime will now be charged $6.49.
This is by far one of the best success stories you can learn from and be inspired to make a change in your life and where you work.
Plato once said that “only a man who is just can be loyal, and that loyalty is a condition of genuine philosophy.”
As a loyalty expert myself I look at creating loyalty from the lens of human relationships.
I always say there is a room for improvement, a room for innovation. Recently in the past few years T-Mobile proved to one of the biggest wireless markets in the world that shaking up the market is possible.
So you are a loyalty manager and the company’s strategy is really focused on acquisitions.
This is the case in many companies and it is something that’s definitely frustrating for anyone that comes with loyalty and retention background.