The basic psychology of rewards How do you get your dog to sit when you’re
Retain brand value
Build a strong brand image with a rewards-based loyalty program.
Show the value of products, not discounts
Discounts are a powerful tool until you overdo them. Trying to sell a product by giving a discount moves the focus from the product itself to its reduced price. Ultimately, it creates a feeling of low-quality products and devaluates your brand.Focus on the genuine value of your products instead and incentivize purchases with benefits that can't hurt your brand image—loyalty rewards.
Secure your business from a discount spiral
Excessive discounting leads to a discount spiral. It's a situation when your customers won't buy unless you offer a discount. Over time, this discounting behavior can become a vicious cycle that reduces profit margins and erodes brand value.To avoid the discount spiral, businesses should focus on creating a strong value proposition and building a loyal customer base that recognizes and values the quality and uniqueness of their products. Offering a loyalty program can all help to build brand value and reduce the need for frequent discounts.
More benefits for your business
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