دانلود رایگان مقاله انگلیسی جذب مشتری های جدید به برنامه های وفاداری: اثر مالی و غیر مالی برنامه های وفاداری - وایلی 2017

Abstract

What type of reward attracts customers to loyalty programs? Given the increasing importance of loyalty programs, this question matters. Six sequential studies investigated whether monetary rewards universally attract people more than nonmonetary rewards. Results suggest that monetary rewards elicit a very robust attractiveness premium both on the level of individual rewards as well as on the level of entire reward programs. Across different industries, the more monetary loyalty program was consistently perceived as more attractive, and it was more likely to inspire intentions to join the program. Even in light of variations in consumption goals (hedonic vs. utilitarian), the effect persisted. The effect is not only consistent; it is also nonnegligible with medium effect sizes emerging in most settings. We discuss ensuing variations in effect sizes and conclude that monetarism holds a pervasive temptation for consumers that managers cannot ignore.

11.2 | Practical implications

Although there are many directions for future research, the evidence at hand does deliver a very robust picture. The current paper provides a potential answer to the question of how to attract new loyalty program members: offer monetary rewards and stress them when trying to attract new members. The power of monetary loyalty programs holds also in industries to which nonmonetary programs would fit well (hospitality and beauty industries). Therefore, we assume that results generalize across industries. Customers seem to be genuinely attracted by the monetarism of rewards rather than their actual worth. It is, hence, likely pointless to make nonmonetary rewards seem more monetary by advertising their market value (see Study 3).

Notably, results indicate that the attractiveness of rewards is unaffected by consumers' consumption goals. It is therefore likely wasted effort to try and nudge consumers to adopt more hedonic (e.g., emphasizing experiential aspects of dining at a restaurant) or utilitarian (e.g., emphasizing value aspect of dining at a restaurant) mindsets before asking them to subscribe to a loyalty program.

The strong support found for monetary rewards does not mean that variations in the type of rewards offered are futile. The inclusion of nonmonetary rewards can help to stand out from rival loyalty programs or build consistency with the overall company image (Kumar & Shah, 2004; Meyer‐Waarden & Benavent, 2001). In addition, nonmonetary rewards may be at least as effective in generating actual loyalty among existing program members. Presumably, it is at this second step—actual membership—that the often suggested issue of congruency between the service and the rewards offered comes into play.

In a nutshell, when considering joining a loyalty program, customers are not looking to indulge but lured by money or anything close to it. What they are looking for once they have joined may well be a different matter.