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Building a Better Loyalty Program (and the Reward for Getting It Right)

BlueOcean

Salesforce research says consumers like us belong to 4.3 loyalty programs on average. If, for example, you’re a member of Nordstrom’s loyalty program, Nordy Club, you’re among a group of customers who are likely to spend three to five times more than non-members, and are consequently driving two-thirds of Nordstrom’s sales.

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Loyalty programs: should you issue your own points or miles?

Currency Alliance

Many people assume that operating a loyalty program necessarily implies issuing your own loyalty points or miles. Points and miles are a dominant and popular form of loyalty value. The golden benchmark is about $25 USD per year in loyalty value. This actually is not true.

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5 Simple Steps Retailers Can Take to Build Stronger Relationships with Customers

InMoment XI

While this may be true in some markets, many consumers are willing to pay more if they feel the price matches the product’s quality. Sales, coupons, and promotions can also help customers feel like your brand offers a good value. Step #5: Loyalty Programs. The data generated by loyalty programs is also very valuable.

Retail 493
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Customer Experience in Retail Guide: Explanations, Strategies, & the Future of CX

Lumoa

According to research, 95% of consumers believe customer experience is the key to brand loyalty. There are now multiple touchpoints for your customers–websites, apps, and newsletters in addition to your physical space (and they may never even set foot in your store!). Where and how they take place has changed, of course.

Retail 236
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Pay with points: unlocking loyalty program value

Currency Alliance

The term ‘pay with points’ implies that a customer can burn loyalty points or miles at a point of sale as the method of payment. Pay with points is trending upward in loyalty marketing for three main reasons. That’s in contrast to being offered a restricted set of inventory items for redemptions via a members’ portal (i.e.,

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Elevating Guest Experiences in Hotels with Integrated CX

InMoment XI

The coming year is no exception, as consumers across the globe plan to make travel a priority, despite ongoing economic uncertainty. According to a recent report, 81% of consumers plan to travel the same amount or more in 2024, compared to 2023. Instead, 71% of consumers expect personalization from the businesses they choose.

Hotels 260
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Top 5 Customer Service & CX Articles for Week of April 14, 2024

ShepHyken

Balancing Customer Loyalty in an Age of Growing Business Costs by Tom Behnke (Retail TouchPoints) Consumers again and again have propped up the economy, fueling consistently strong growth in ecommerce and giving the retail industry an important edge in otherwise dark times. Loyalty Programs Should Encourage Competition.