Loyalty cards are a waste of companies' time, effort & money
Laura Mazur
Is the latest marketing ploy merely another chimera? The author presents a scathing critique of the lemming-like rush to loyalty programmes, claiming there is only minimal evidence they are worth the investment and that they may actually be dangerous distractions from providing better products and services.
More and more companies have begun to appreciate the economic benefits of devoting more of the marketing budget to keeping their best, most-profitable customers throughout their buying lifetimes. This is not surprising. Current marketing wisdom suggests that:
- the price of...