Loyalty, engagement and rewards - they're far more than today's top buzzwords. They are a way of being for many of the savviest brands in business today. And they are reaping the rewards.
PunchTab recently announced that several international companies have opted to leverage its loyalty technology to increase sales, encourage repeat business and improve brand affinity. Daily deal site Cobone, for example, has seen 40 percent growth in repeat buyers since implementing the program. The Dubai-based seller of virtual and actual coupons noted that members of its loyalty program come back to the site six times more and view eight times more pages than non-rewarded users. To date, PunchTab has awarded 6,000-plus redemptions and 226,535,500 points earned through purchases with Cobone.com.
"Over the last two and a half years, we have experienced considerable growth, but we recognized early on that customer loyalty would be key to the success of the business," said Byron Koller, Director of Marketing at Cobone.com. "Our objective for the partnership was simple, to bring the customer back to Cobone.com every day. By offering loyalty points to our users for interacting with the site, or promoting our offers through social media, customer retention has increased significantly."