Even as loyalty programs are launched left and right, many are being scuttled. How can that be? These days, everyone knows that an old customer retained is worth more than a new customer won. What is so hard about making a simple loyalty program work? Quite a lot, Joseph C. Nunes and Xavier Dreze say in this complete article from the April 2006 The Harvard Business Review.
- From the April 2006 issue of Harvard Business Review