Hi Safraz. Please could you tell us a bit more about why you're thinking about going into this business and what you hope to achieve from it? That way the community can give you more useful feedback. Cheers, David
I have FREE Practical Accounting templates for individuals to use that can be downloaded from my website. The templates include; Business Plan, Chart of Accounts, Balance Sheet, & Profit and Loss Statement. Through my consulting services I maintain suggestions for the small business owner/manager and assure them that their information is maintained completely private. Showing the owner/manager the importance of practical accounting and gaining the expertise to read their own Financial Statements to present their company properly to both lenders and investors.
Segment your clients by spending, and give them respective taylored incentives from time to time or when you have a product launch that matches products their main purchases(further segmentation), I have seen this work very well in eCommerce retail.
I agree with Sagheer and totally disagree with David. Please check out my website or at LinkedIn and let me know if you think I can be of service. I can not post my website here, but you can get it from LinkedIn.
You need good business plan, and good business consultant.
Loyalty should come from a business that makes or offers quality products and services, and the loyalty program should come based upon the customer's willingness to keep using your service or products...Loyalty from my view cannot be bought or purchased...Loyalty programs are based upon trusting relationships...
If you are asking this question, you don't know what's specifically involved so, my advice is:
Don't do it.
If you want to start the loyalty program, you should be running a business already because this is the reward that you give to your customers for buying your products or utilising your service.
The advantage is that of customer loyalty and increased sales, but you need to do a thorough research before implementation.
If I did i would be a rep for the Worlds largest - Lyoness. Id use what they have created and market it. Contact me and I will send you a complimentary membership, Byron Bitcoin Facebook
The short answer is by being an experienced expert.
"How" is the very first per-requisite knowledge before starting any business. If you are not an expert on loyalty programs, don't even think about starting one yet. You can read all you want but ext book knowledge is seldom enough. Get a job working for a successful loyalty program and learn the details first hand. Talk to employees in every department and pick their brains on all aspects of what they do.
How to go about building a start up should be a significant part of your competitive advantage and if you don't think you know the answer better than all laymen and most companies already in the business, you are not ready and starting the venture is not a good idea.