Do you believe in rewarding customer loyalty?

That's dangerous territory, you're not supposed to incentivize/bribe customers into leaving reviews according to the Competition and Markets Authorities recent guidelines, although lots of companies do, and the whole thing has become a bit of a grey area 

Originally Posted by Steve Richardson

“That's dangerous territory, you're not supposed to incentivize/bribe customers into leaving reviews according to the Competition and Markets Authorities recent guidelines, although lots of companies do, and the whole thing has become a bit of a grey area ”

Didn't know that!  I think the company means well and they don't make the products they are selling.  These are personal purchases, not business related, but always in search of a bargain I'll be comparing prices anyway.  Usually start with Amazon and see if I can get it cheaper.

The CMA sent shockwaves round the review site community, with some high profile ones getting a warning and forced to make changes.

There was a war in peace consultation, but they released some user friendly guidelines. In a nutshell Don't:

collect reviews only from customers you know are satisfied (unless these are clearly labelled as testimonials), or offer incentives for positive reviews

do’s and don’ts for online review sites - GOV.UK

The whole review versus a testimonial is what has caught a lot of people out. Plus do you send the same review incentive to a customer who you know is going to cause you agro and public earache. If the answer is an obvious no (as it would be with most businesses) then you are breaking the new guidelines. 

But as they will be no doubt policed by the same team that monitors the EU Cookie law that we are all supposed to have on our sites, I wouldn't worry about it to much 

Having previously worked in the banking sector, I know all too well how companies will give all the best deals to new customers, but leave existing customers feeling worthless.

Now, I'm all about the existing customers and loyalty. I will honour previous rates and offer discounts, but I would never offer this to a client I have no business relationship with. Although it's important to prove yourself as being a good supplier, I also think a client needs to prove themselves as being a good customer. I do get those newbies that expect quick delivery, cheap rates and premium product, but until I have dealt with them a few times, I will be firm but fair on my pricings and terms.

I think rewarding loyal customers is important when you're building your business. At the end of the day, loyal customers are valuable to business owners, especially those with a small business. Rewarding your loyal customers can be as simple as giving them a 10% discount or a complementary service. Something small to show that you appreciate their businesss.

We work on a 10% loyalty discount for all recommended customers and returning customers. So yes, customer loyalty rewards is something we encourage

Yes, I do believe in rewarding customer loyalty.

I would always give a free gift to my party hosts as part of my presentation. This free gift was not tied to party sales. It was good for the guests to see this and would encourage them to book their own party in the future. Many hosts would be keen to re-book as well.

I also offered free gifts or a discount to customers who didn't necessarily have time to host but would collect orders from friends. I love referrals for new customers and team members so would reward those too. Often just with a thank you in a greeting card but I would include a card for them to use and pay forward the happy feeling

Also send Christmas cards to say thank you for their business during the year These can now be personalised for corporate clients as long as your Christmas card list has at least 100 names on it!

I know some Phoenix Traders who have started a loyalty card scheme for purchases. Bit like those coffee cards where you get a stamp for each purchase until you fill your card up and earn something for free or a discount but with greeting cards and stationery not coffee!

Things are a bit different now as I'm travelling with my family (husband and 4 kids) and not holding any stock like I used to for markets in Australia and New Zealand. I can't offer discounts or free gifts via my website either Phoenix Trading have recently introduced free shipping for orders over £25 though. This free shipping offer is on trial until the end of December 2016. With an increase in online sales company wide I hope they will continue this incentive in to 2017!

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Brand loyalty is one of the most difficult assets for a business to attain.
Customer service is an essential component in the entire process of a business’ quality management, and everyone in the company should be aware of that.
When you make your clients feel important, they will naturally be loyal to your products and services, exactly what you want.

depends how big the job is for a returning customer. if theres enough meet then you might be able to squeeze some margin. more important to me is word of mouth reputation which is a form of loyalty. do a good job and a previous customer is likely to reccomend you.

I do give discounts and some freebies to my customers who have been patronizing my business for a year or more.  I do this regularly as a sign of appreciation.  Its because , I believe that  a good business success relies on the customers satisfaction. I agree with @Paul S also that we are creating a good business standing with it.