New in Stock - Preliminary Exam Business Report Samples (Band 6 Exemplar)
The development of long-term loyalty between firm and customer through personalised service or the creation of incentivised rewards programs.
High end products can be sold through sales representatives. This allows personalised interaction with clients to maximise sales.
Through rewards programs, businesses acquire data and contact information for members of their target market.
This allows for very efficient direct advertising (emails to a database are free—but can be annoying to customers).
Discounts and offerings to their members keep consumers returning for repeat purchases and lifts brand loyalty (Woolworths Rewards).
Affiliate Marketing uses referrals from existing customers to draw in new leads - with rewards going to the customer who provided the referral. This is the systematisation of work of mouth.