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A reward program, also known as a loyalty or incentive program, is a business strategy that rewards customers for their repeat business or desired behaviors. The goal of a reward program is to increase customer engagement and loyalty.
Reward programs are an important part of customer relationship management (CRM) strategies. They are designed to encourage repeat business by offering rewards, discounts, and other incentives. Typically, the more a customer spends or patronizes a business, the greater their rewards.
Customer reward programs are the point-based programs loyalty programs designed to increase customer engagement and purchases in exchange for discounts and other benefits.
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