Report: Reward Programs Crucial to Building Customer Loyalty

by: Nichole Gunn September 16, 2010

Maintaining customer satisfaction and building a loyal customer base is crucial, even more so in trying economic times.

It is no secret that happy clientele generates more consumer dollars. Yet still, a recent report shows that many business practices have failed to maintain customer satisfaction, during a time when they could certainly use consumer dollars the most.

The Associated Press reports that the Better Business Bureau (BBB) received a 10 percent increase in consumer complaints - jumping to 1 million - just last year. The top complained-about companies have proven to be cell phone, and cable and satellite TV providers.

CEO of BBB Stephen Cox said he believes consumers’ financial constraints are making them more sensitive to business efficacy than they would have been prior to the economic downfall.

Companies who have failed to maintain customer satisfaction in the minds of consumers may be able to redeem themselves by implementing customer rewards programs.

A Chief Marketing Officer Council study indicates that 79 percent of consumers feel that participating in a customer loyalty reward programs is a gratifying experience.

The right customer rewards program can help companies rebuild loyalty with the customers who ultimately drive their business. Online, points-based programs offer meaningful rewards to loyal clients, and overall, improve customer satisfaction.

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