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!