Loyalty Programs

Loyalty programs are techniques used in marketing to reward loyal customers that use the companies services or buy the companies products frequently. As stated in the previous post, the Pareto's rule states that 20% of the customers should be rewarded more heavily as they bring in 80% of a companies revenue. Loyalty programs are very important because they are used to retain customers, keep them satisfied and to get them to buy more products.

There are many great examples of loyalty programs:

1.   Air Miles: This reward program is one of the most prominent in Canada. It allows you to earn air miles through a partnership through their sponsors and has over 9 million active collector programs. A great advantage of this program is that it is not just limited to earning air miles but can be redeemed for other prizes such as movie tickets, electronic items, merchandise and much more. Take a look at their website to learn more: https://www.airmiles.ca/arrow/SponsorDirectory
2. Virgin Airlines: Virgin Airlines has a serious loyalty program that is titled the "flying club". One can earn rewards through flying with their airline, using their car rental services, hotel and airline partners and even doing some online shopping. So what are you waiting for? Click the link and get aquainted with this great program: https://www.virgin-atlantic.com/en/za/frequentflyer/index.jsp
3.  Shoppers Drug Mart Optimum Program: When you shop at Shoppers Drug Mart, you can use your optimum card to earn points. Imagine earning points for purchasing fragrances, baby items, food and everyday essentials? The advantage of joining this loyalty program is you earn points on purchasing regular everyday items and just basic necessities. Click on the link to learn why you should join: http://www1.shoppersdrugmart.ca/en/Optimum.asp 

There you have it- 3 great loyalty programs worth mentioning. Are any of you readers in any loyalty programs that have great advantages and are worth joining? Let me know in the comments section below!

Quote of the Day

Hello readers,

I am back today to introduce you to a quote that is widely used in marketing to explain the importance of customer retention. Pareto's rule states that "80% of a companies sales comes from 20% of its customers". This rule means that making a sale to a current customer is more profitable and less expensive to the company than trying to make a sale to a new customer. So here's a question for you guys: Why is this rule important to marketers and how is it useful to them? Let me know your thoughts in the comments section below. 

Commercial- Coca-Cola Happiness Truck

Coca-Cola, one of the largest giants came up with the brilliant concept of spreading happiness through a marketing campaign all around the world. Through this campaign, many received free beverages, flowers, iPhone, accessories, balloon animals, skateboard, etc. Want to know how? Watch the Coca-Cola commercial that became a viral hit!

This commercial from a marketing point of view is unique and creative! The concept of this machine is to spread happiness in an unpredicted and innovative way, while catching the heartbeats of not only the consumers but the audience as well. This is exactly what Coca-Cola managed to do. They caught not only the smiles and laughter of their consumers but also established a great customer relationship management (CRM).

Intro to Marketing- Is it a bias?

What does one automatically think of when they hear the word marketing? Everywhere I go, I hear the term “marketing” associated with “advertising”. Sure, there is no doubt that marketing does involve creating a distinct image for a product or company through advertising, but it is much more than that.

  

 A career in marketing is much more than these biases that people have created in their minds. We do not just work with ads, but we are the people behind the scenes.  A career in marketing involves things such as projecting sales, creation of analytical reports, promotions, building and executing a business plan and presentations.

                 

 Another bias of marketing is that marketers have it “easy”. How can people actually believe that all we do is sit in our offices and hide behind our computer screens all day long? In fact, a lot of hard work goes on in our lives. Every moment of our active time, we are thinking about strategies on marketing products. Our mind is an explosive just ready to explode with all the thinking and developing going on inside our head. Other things that constantly keep us on our tippy toes is trying to stay current and getting familiar with our consumers. As marketers, we need to research, read the newspaper and magazines daily, listen to the radio, watch TV, and surf the internet to be up to date and to absorb the trends that are developing in the community and around the world. Our jobs are hectic because it revolves around satisfying our customers needs and wants.

Welcome to your one stop marketing blog. In this blog, my aim is to give you a glimpse into a marketers mind. In upcoming posts, I will dispel any myths of marketing, post commercials of the week, give marketing analysis, talk about upcoming trends and fads and make this a creative outlet. In my next blog post I will be posting a commercial of the week. Any guesses on which one it will be?