Report on Revenue Strategy: The Hotel Industry’s Big Bet on Personalized Loyalty

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Repetitive behavior is usually enforced by reinforcement or incentive in either case. When it comes to sales, converting repeat customers into loyal customers necessitates more than a quick “thank you” and “you are welcome again.” It goes beyond just giving a discount because this conventional approach is not only out of date, but it can also lead an organization to lose money. Discounts are often known to deliver short-term returns rather than the long-term commitment required by any company. As a result, it makes a lot of sense to avoid delighting customers and instead creates a connection between what customers enjoy most (customer service) and loyalty. Loyal customers are already impressed with whatever service they are receiving and that is why they engage in repetitive behavior. The best approach to take in this case is to improve the service being provided. There are many ways of maintaining the loyalty of consumers besides giving a discount. For example, a business could offer a warranty that appears as a condiment to a sale or a loyalty card with other benefits. Alternatively, loyal consumers may be asked to pay for an extended warranty from the same company. Once a consumer signs a long-term agreement for anything, they stick to the same organizations for years.
For any business today, reducing the effort that consumers take while solving a problem retains their loyalty in an organization. For instance, loyal consumers enjoy recognition as this is the first step of solving their problem. A simple personalized greeting using the correct name warms up a consumer and it decreases anxiousness. In other instances, consumers relax once they know that they are valued by the company through the use of simple gestures. Thus, discounts may not be necessary especially when dealing with loyal clientele.

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