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New Breed Of VIP’s Social Rewards
MBA 2AAlia, Lea, Miguel, Nodira
Question 3. Are Social Rewards a fad or new CRM/loyalty approaches?
Fad
• Strong development• At first glance is very engaging• People can be very active on social networks• More and more new media channels,thushigher and higher
potential But:- They can loose easily their reputation if it is not actively
supported (Holidays… ) - To be very active, people can be bored quickly with the
same information all time- People can cheat to increase their reputation score- It can become easily a competition to get more scores
New CRM Approach
- Can bring much more customers for business. It can reach broader audience
- There is a need to be linked to the real business to benefit from the rewarding programs. In this case, the CRM approach could be beneficial.
But:- There is not enough retrospect to stand back and state
if it will last- People tend to be very volatile, so it can weaken the
loyalty in its traditional meaning
Conclusion
We believe in 2011, social medias have to be considered as a new CRM approach, it may not last very long, but it so ubiquitous today
that MUST use it!