Loyalty programs can be highly beneficial to companies and consumers, which make them a great strategy in my book. Everyone wins or can win.

Probably most known are airline loyalty programs, which have offered free flights and later other things in return for repeat business. The coffee punch cards are another example. Get a free coffee after buying 10. But can every company run a loyalty program? Every is a strong word, but there's probably more than do today. I mean, even my gas station now has a sophisticated program.

Read next: What turns a repeat customer into a loyal customer?

In this episode, I discuss:

• What are loyalty programs?
• How can loyalty programs work best?
• Why do consumers use them?
• Biggest advantages for businesses
• What companies could run loyalty programs?

Read even more here: http://christophtrappe.com/loyalty-programs