Reward Management

At the moment bonus programs - alone or in combination with other instruments- are one of the most successful and most often used marketing instrumentsin B2C markets to retain customers by giving them a bonus for loyalbehaviour. The problem is that there is still little known about why customersexactly participate in bonus programs and that especially the crucial aspect ofrewards management seems to be the blind spot of the marketing theory onhand. Against the background of high investments in bonus programs andtheir rewards on the one hand and unclear reasons for the different successof bonus sets on the other hand this is an unsatisfactory situation.The author Sebastian Grosser gives a reward management oriented introductioninto the bonus program theory on hand and how rewards managementis integrated in such a bonus program. He presents basic rules for successfulrewards management as well as advantages and disadvantages of differentrewards types. Criteria to select the right rewards get explained. Furthermorethe author gives advices how to set up a successful and payable rewardsscheme. Also the results of a short online survey get presented to back up thetheoretical conclusions.The book is of help and interesting for everyone who is working on or withbonus programs or generally interested in the topic of customer retentionmanagement.