Customer rewards and incentives have been around for over a decade, and even more businesses and companies are getting on the bandwagon. From retail stores and shops, telecommunication companies, and airlines, businesses and companies spend so much on customer rewards programs because of the many benefits it offers not only the customers but the business as well.
Benefits Of A Rewards And Loyalty Program
A rewards program or a customer loyalty program that is well-designed provides businesses and companies a lot of advantages. Below are some:
- Enhanced customer retention which helps in boosting sales and revenue
- Saves money as customer retention tactics are much cheaper than drawing in new customers
- Customers feel valued and appreciated which could help increase customer patience in the event of a mishap
- Business could measure customer loyalty via engagement as it tracks relevant analytics as well as vie reports, gauging the efficiency and worth of customer loyalty on sales
- A loyalty or rewards program allows businesses to communicate with its customers directly, especially for promotional offers, new product showcase, special events, even for emergencies like recalling products
Movie Theaters Benefit From Loyalty Programs
Because of the incredible benefits it offers, movie theaters now also employ the use of loyalty or rewards programs to build and establish customer loyalty. Such programs are particularly significant today as movie viewing is now possible, not only in cinemas but with the Internet, video-on-demand and video streaming platforms.
Since such movie viewing platforms are now preferred by many as it is much cheaper compared to purchasing a single movie ticket, and where competition is rather strong and fierce, loyalty and rewards programs are even more essential for movie theaters to attract more customers. With such strong competition, how can movie theaters set up and establish an effective loyalty program? Movie theaters could focus on the following objectives to create an effective loyalty program:
- Grow customer base by means of appealing benefits or incentives of the loyalty program
- Reward long-term customers for them to be acknowledged and appreciated thus keeping their loyalty
- Have bigger amount of purchases because of additional sales from confectioneries and/or movie merchandises
- Offer bigger and better perks to your most loyal customers, encouraging others to come more often so as to be able to avail of the perks as well
- reactivate customers who have been inactive