Loyalty is more than just reward points and discounts, say panellists

Till date, most organisations use a rewards and point system to make customers revisit their product or service. However, such incentives do not fulfil the customer’s needs, panellists at the VCCircle India Loyalty Conclave 2016 said. 

Speakers from diverse sectors such as taxi services, jewellery, banking, consumer retail and insurance spoke about moving away from discounts, and focusing on service and cross selling as a means to draw out consumers. Though the consumer is easily accessible on digital channels, they are more difficult to reach out to in offline channels. Besides, loyalty also extends to employees.

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