Loyalty programs are something that have always intrigued me. Sometimes it seems like the sheep follow a little too closely instead of actually looking at the price of what is being paid. For example, is it better to fly RT to a place you want to go for $199 on an airline you never really use, or pay $239 for the airline you always use just to get miles in your loyalty program? I know people who are so loyal and determined to get the miles that they will (gladly) pay the extra $40. Let’s say that trip is from DFW to ORD (Chicago). Having flown that route about 150 times, I am very aware that it is 802 miles each way for the purpose of calculating FF miles. Even if I am platinum, that is 3,208 miles. If I am paying $40 for those miles ($.0125 per mile) I am valuing them at even less than the airlines do (they accrue $.02 per mile on their books). To look at it another way, 3,208 miles is roughly 1/8th of a “free ticket”. $40 x 8 = $320. What could you do with $320? Buy another $199 ticket to Chicago and have a really good dinner at Shula’s…gives new meaning to the phrase “Dollars and SENSE”.
At DealTaker.com, we have coined the phrase “couponing 2.0”. Before it used to be that individuals would deal with saving money in a behind the scenes, “clip the coupon” and passively use it sort of way. Now, with the expansion of marketing efforts online, people are coming together to share deals, savings techniques, and tips on how to save more. This is never more evident than during Black Friday each year after Thanksgiving when people share and find all kinds of great deals. In this economy, that is now becoming an everyday occurrence. Check out this news story just done on us that reinforces that notion…DealTaker on NBC5i – DFW
Those of you who know me know that social marketing and media is a big part of my life. I tweet on Twitter. I friend on Facebook. I link on Linkedin. Thanks to Kevin Koym, I met Hayes Davis today – he works for CheapTweet. Now there is a way that e-commerce (specifically deals) can cross over to the social media realm in a usable fashion. My company (DealTaker – a great place for online coupons) is proud to be one of the first members on CheapTweet. And here is our badge to prove it –