Loyalty programs have become a staple for businesses aiming to retain customers. However, many programs rely heavily on discounts, which can erode profit margins over time. To build lasting loyalty, businesses need to think beyond price cuts. Here are some creative reward ideas, along with practical implementation tips: 1. Exclusive experiences Offer VIP event access, behind-the-scenes […]
Loyalty programs are a common feature in the modern shopping experience, especially in markets like the US and the UK. Many consumers are members of multiple loyalty programs—some of which they actively engage with, while others simply exist in the background. But what makes customers not only join these programs but also use them regularly? […]
When I once reported on the Ski World Cup, I experienced quite a few adrenaline moments – like when I almost crashed into Hermann Maier on the Steilhang on the Kitzbühel ski slope during a morning track inspection. But that’s a story for another time… Today, I’d like to introduce you to a simple strategy […]
In the vast sea of metrics and analytics, one stands out as a beacon of insight and profitability: Customer Lifetime Value (CLV). More than just a number, CLV represents the cumulative value a customer brings to your business over their entire relationship with you. It’s a powerful tool that enables businesses to measure, understand, and […]
Elevating rewards: The emergence of value-centric loyalty programs In the current landscape, customers are more than ever in search of enhanced value from their loyalty programs. Brands that fail to reconsider their reward structures might find themselves overlooked by these discerning shoppers. As the average American consumer engages with approximately 16.7 customer loyalty programs, the […]
In the dynamic and competitive landscape of modern business, retaining customers is just as crucial as acquiring new ones. This is where loyalty programs come into play, serving as a powerful tool to foster long-term relationships between businesses and their clientele. In this blog post, we will delve into the world of loyalty programs, exploring […]
Customers are bombarded with ads and marketing everywhere, causing them to ignore traditional marketing. Thus, companies must find alternative ways to effectively reach their customers. Hubspot’s study found that 81% of people trust recommendations from friends or family more than those from businesses. While some customers may naturally recommend a product out of genuine satisfaction, […]
In the last year, we have noticed an increased interest in building loyalty programs. Immediately, a parallel can be drawn between the 2008 recession, which hit us only about two years later and persisted until around 2012-2013 if we are not mistaken, and the “Ukrainian crisis”. Before the first recession, companies didn’t concern themselves much […]
Are you striving to create an outstanding loyalty program that captivates your customers and boosts your business? Look no further! Introducing the game-changing solution: marketing automation tools. In today’s fast-paced digital world, personalized and targeted marketing has become the key to success. That’s where marketing automation steps in, revolutionizing the way businesses engage with their […]
Customers do, after all, possess greater power than ever. They are far more intelligent and have greater options available to them. They are also far less forgiving. Developing a relationship with a customer is more challenging than ever. Even a minor error on your part could cause customers to switch to a rival’s good or service. […]
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