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Customer Loyalty 10#
Customers are retained and loyalty assured by providing value beyond the actual product or service itself, i.e., through incentive-based programs. The goal is to increase loyalty by creating an emotional connection or simply rewarding it with special offers. Customers are voluntarily bound to the company, which protects future revenue.
Examples: Iconic Cases
How they do it: American Express lets its credit card customers collect reward points for each spent. By offering money and in-kind rewards for a certain amount of collected reward points, customers are incentivized to use the card more.
Learn more about American Express →
How they do it: Marriott’s loyalty program ”Marriott Rewards” offers its members exclusive status benefits as well as the possibility to earn and spend rewards with every stay. In addition to that, there are different levels which loyal customers can reach by staying a certain amount of nights in one of the Marriott hotels. Depending on the level, members get additional benefits and preferred treatment.
Learn more about Marriott International →
How they do it: The Home Depot offers a loyalty program called ”Home Depot’s Pro Xtra” to professionals and contractors. It combines bulk-pricing with weekly specials and rebates.
Learn more about The Home Depot →
How they do it: Starbucks Rewards is often regarded as one of the best retail loyalty programs in existence. Every $1 spent in a Starbucks will credit 2 ”Stars” to a member’s account, which the users subsequently are able to redeem for free food or beverages.
Learn more about Starbucks →
How they do it: The loyalty program My Best Buy allows customers to get rewards for points collected with purchases at Best Buy. In addition My Best Buy members benefit from better purchasing conditions such as free shipping, access to sales and offers and extended return and exchange periods.
Learn more about Best Buy →
Below, the top industries for the pattern "Customer Loyalty" are displayed, in order to get insights into how this pattern is applied across different industries. We've collected data from 13 firms using this pattern.
Top Industries
Retail
24% of firms using pattern
24% of firms using pattern
Consumer Goods
19% of firms using pattern
19% of firms using pattern
Information Technology
6% of firms using pattern
6% of firms using pattern
All Industries
Below, the pattern "Customer Loyalty" is analyzed based on co-occurrence, in order to get insights into how this business model pattern is applied in combination with other patterns within the firms we studied.
Top Co-Occurrences
Leverage Customer Data
4 pattern co-occurrences
4 pattern co-occurrences
Affiliation
3 pattern co-occurrences
3 pattern co-occurrences
Two-sided Market
3 pattern co-occurrences
3 pattern co-occurrences