Total Rewards Compensation: A Viable Solution

Total rewards customer loyalty programs represent a viable solution for domestic gaming operators in today’s current economic environment. Total rewards customer loyalty programs provide domestic gaming operators with an unparalleled tool in understanding, identifying, and realizing their customer’s desires. The design of total rewards customer loyalty programs provides domestic gaming operators with the ability to remain fluid and allows quick adaptation to ever changing market conditions. Research suggests that total rewards customer loyalty programs provide domestic gaming operators with a viable financial solution that provides equitable value to customers alike. This paper will analyze the structure of customer loyalty programs by defining and examining its components. This paper will also identify and establish parameters necessary for domestic gaming operators to achieve a successful total rewards customer loyalty program. Finally, this paper will recommend that under current economic conditions that domestic gaming operators invest in the development of total rewards customer loyalty programs in order to drive customer retention and add to financial bottom line

An Exploratory Study of Casino Customer Loyalty Programs

This study summarizes academic theories and industry applications related to customer loyalty programs, drawing on literature pertaining to reciprocity and resource theory, attitudinal loyalty, tiered loyalty programs, and reward type and timing. Specifically, this study attempts to understand aspects that have been proven successful in order to design more effective customer loyalty programs. This literature synthesis provides important professional implications for casino executives in effectively designing customer loyalty programs

Customer loyalty programs to the brand

В статті проаналізовано погляди різних вчених до визначення поняття «лояльність», а також наведені різні моделі складових лояльності. Проаналізована сутність роботи зі створення програми лояльності, виявлені основні та додаткові цілі даних програм. Також в статті автором розроблена класифікація програм лояльності на споживчому ринку з наведеними практичними прикладами застосування. Були виявлені переваги, недоліки та відмінності різних видів програм.This article analyzes the views of various scholars to the definition of "loyalty" and describes the various components of the model of loyalty. Analyzed the nature of the work to create a loyalty program, identified the primary and secondary objectives of these programs. Also in the article, the author developed a classification of loyalty programs in the consumer market with the above examples of practical applications. Identified strengths, weaknesses and differences of different types of programs.В статье проанализированы взгляды разных ученых к определению понятия «лояльность», а также приведены различные модели составляющих лояльности. Проанализирована сущность работы по созданию программы лояльности, выявлены основные и дополнительные цели данных программ. Также в статье автором разработана классификация программ лояльности на потребительском рынке с приведенными практическими примерами применения. Были выявлены преимущества, недостатки и различия разных видов программ

Customer Loyalty Programs and Privacy Concerns

In recent years, loyalty programs have been established allowing the creation of detailed consumer profiles by collecting and processing purchase information. Collecting this information, however, raises privacy concerns of customers. In this work, we provide the results of an empirical study which reveal that privacy concerns have an impact on the probability of participating in loyalty programs. We identify a privacy-sensitive segment of customers using demographic and psychographic data that, in principle, would participate in a loyalty program, however, refrains from doing so because of privacy concerns. Moreover, we found that people participating in customer loyalty programs are more concerned about their privacy than non-participants, which is an interesting though counterintuitive result

Innovative customer loyalty programs

Currently, the vast majority of demanding consumers has tired of monotonous bonuses and benefits companies. Today innovations play an important role in all areas of our lives. And marketing is not an exception. So, the marketers make innovative and personalized solutions to create loyal customers. In this connection, in the present conditions the development of innovative customer loyalty program is one of the priorities of any company.Инновации в различных сферах деятельности играют важную роль. В настоящее время преобладающее большинство требовательных и взыскательных потребителей уже перенасыщено однообразными бонусами и льготами компаний. Поэтому производители акцентируют внимание на инновационных и персонализированных решениях формирования контингента приверженных клиентов компании. В связи с этим в современных условиях разработка инновационной программы лояльности клиентов является одним из приоритетных направлений развития любого предприятия

Innovative customer loyalty programs

Currently, the vast majority of demanding consumers has tired of monotonous bonuses and benefits companies. Today innovations play an important role in all areas of our lives. And marketing is not an exception. So, the marketers make innovative and personalized solutions to create loyal customers. In this connection, in the present conditions the development of innovative customer loyalty program is one of the priorities of any company.Инновации в различных сферах деятельности играют важную роль. В настоящее время преобладающее большинство требовательных и взыскательных потребителей уже перенасыщено однообразными бонусами и льготами компаний. Поэтому производители акцентируют внимание на инновационных и персонализированных решениях формирования контингента приверженных клиентов компании. В связи с этим в современных условиях разработка инновационной программы лояльности клиентов является одним из приоритетных направлений развития любого предприятия

A qualitative analysis of the loyalty building attributes of customer loyalty programs on gaining loyalty to brands

A paradigm shift from mass marketing to the concentrated focus on one-to-one marketing has led to a barrage of tactical strategies to instill long-tern consumer loyalty among organisations\u27 most valued customers. At the forefronts of these strategies are customer loyalty programs. Since the inception of the first loyalty program, AAdvantage in 1981, the marketplace has seen a proliferation of these programs across a widening range of industries. Not surprisingly, this has led to significant interest in customer loyalty programs among academics and practitioners. Despite the skepticism of academics relating to the effects of loyalty programs, many organisations have allocated a large amount of the or marketing budgets to developing, implementing and maintaining customer loyalty programs in the hope of generating long-term loyalty in customers. To date, current evaluations of customer loyalty programs have assessed the effects of these programs by focussing on behavioural measures (such as repeat purchases) and on economic outcomes (such as market share, penetration and share of wallet.) While these traditional measures have contributed to the understanding of consumer loyalty and evaluations of a program’s success, it has been recognised by researchers that the measures are inadequate to determine and explain the loyalty-building attributes of loyalty programs. Moreover, studies from the viewpoint of consumers remain lacking. In an attempt to bridge the gap, this qualitative study explores the attributes of customer loyalty programs that result in consumer loyalty to brands from the perspective of the consumer. The fundamental significance of this study is the integration of the behavioural and the attitudinal theoretical approaches used to investigate these attributes. In addition to this integrative approach, the study incorporates theories from relationship marketing. The components of loyalty and attributes of loyalty programs that were investigated were drawn from an extensive review of the brand loyalty, relationship marketing and customer loyalty program literatures. These components and attributes were deemed to be the most significant in establishing long-term consumer loyalty. The data for this qualitative study were derived from twenty-four semi-structured focused interviews with consumers who qualified as members of customer loyalty programs. The tentative conclusions drawn from this research are that from consumer’s points of view: (i) the act of loyalty is exhibited by the continual repeat purchase of the same product from the same store, (ii) the key to a successful customer loyalty program is the implementation of a program that is flexible to its members, (iii) the key to a defensive orientated loyalty program is a good incentive structure and an effective communication program, and (iv) the development and sustenance of a relationship between a consumer and an organisation is vital to the brand loyalty process. The results of this exploratory study provide a deeper understanding of the customer loyalty program phenomenon and the identification of program attributes that result in long-term consumer loyalty from the perspective of consumers. This research highlights that further investigation is required into the loyalty-building attributes of customer loyalty programs, and this will be central to the development of loyalty programs that satisfy consumers and effectively establish long-term loyalty to brands

RECOGNITION AND PRIORITY OF KEY SUCCESS FACTORS (KSF) INCUSTOMERS CLUBS AND CUSTOMERS LOYALTY PROGRAMS

The present study aims to identify and prioritize the Key Success Factors (KSFs) of Customer clubs and Customer Loyalty programs, in Bank Mellat Iran. The different models of Key Success Factors from previous researchers have been studied, and according to 12 experts of bank Mellat Iran, a model of KSFs of Customer clubs and Customer Loyalty programs in banking industry, has been presented. It’s a combination of previous researches models, including 20 factors affecting the success of Bank Customer clubs and Customer Loyalty program. A questionnaire of 20 success factors have been designed for determining the effect of each factor on the other 19 factors. It has been filled by 12 experts with over 10 years of experience in banking industry. Then, it has been analyzed by Fuzzy DEMATEL method, and the research results has been extracted. This research concluded 20 main key success factors of Customer clubs and Customer Loyalty programs, in Bank Mellat Iran; the 5 fist most important success factors are in order as: 1. the seller's contact assets, 2. price, discounts and free products, 3. Lack of attention to monitoring system and continuous supervision, 4. Quality of customer services, 5. Creating value for customers

Perceived benefits of customer loyalty programs: validating the scale in the Indian context

The article endeavors to validate the scale developed by Mimouni-Chaabane and Volle (2010) that measures perceived benefits of customer loyalty programs in the Indian context. On running exploratory and subsequently confirmatory factor analyses based on the responses collected from loyalty program members from two Indian cities and across different industries, the researchers opine that in the Indian context, the scale has to undergo changes. The original scale developed and tested on French loyalty program members had sixteen items that measure five perceived benefits namely, monetary savings, exploration, entertainment, recognition and social. It was found that in the case of India, the number of items remain intact. However, the entertainment benefits dimension and the recognition benefits dimension merged to form a singular dimension which the researchers name as ‘ego pleasure’. The authors believe that this research will benefit the managers in devising strategies for particular segments of their loyalty program members. In addition, it opens up the possibility of further testing the scale in different cultural contexts.Loyalty, perceived benefit, customer loyalty program (CLP), scale, Indian loyalty market.

Modeling the Intergrated Customer Loyalty Program on Blockchain Technology by Using Credit Card

Blockchain technology integrates mathematical encryption, open source software, computer networks and incentive mechanisms. It created a crypto call hiding in a token. However, tokens should be used to purchase goods or services from offline retailers, but current tokens are used primarily for investment. Therefore, the most important thing at this point is how to get the royalty-based tokens integrated into the offline store. For this purpose, it is not realistic to install a new payment terminal in an offline store. Based on these perceptions, this study measures the application of investigated components to understand the impact of blockchain technology on customer loyalty programs. The main purpose of this study is to propose an integrated customer loyalty program model for blockchain technology using credit cards. This study shows how to implement an integrated customer loyalty program process in credit card-based blockchain technology and how to identify the importance of block-chain technology to improve customer loyalty programs