India, March 2 -- In an age where organizations are struggling to maintain a competitive edge, customer loyalty programs could be a key differentiator. Loyalty programs have existed as a marketing/ promotional strategy for many years, and whether we like it or not, most of us are enrolled in some loyalty program or the other. From an organization's perspective, loyalty programs are one of those key factors, which if implemented correctly, can boost customer retention and acquisition.

The first recorded loyalty scheme was introduced in ancient Egypt, known as the Beer and Bread Tokens, according to Professor Barry Kemp, in Ancient Egypt: Anatomy of a Civilization. These were tokens made of wood and plaster in shapes of beer jugs or breads...