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FEBRUARY 22, 2019

A Forrester report highlights increasing customer retention by 5% can increase profits by up to 95%. Loyal customers spend about 30% more with brands than new customers. An investment to increase retention by 5% is surely a worthy business investment. After all, customer retention doesn’t improve overnight.

Customer Retention 82

Customer Retention Engagement Strategy Rewards Programs 82

ShepHyken

OCTOBER 13, 2017

If you’re selling beauty products, make like Lush and reward customers for bringing back your used containers. Or if you’re in the fashion business, like Madewell , for recycling their used shirts. Consider your brand values and brainstorm every possible customer action that you could reward, and show customers you care.

Customer Centricity 73

Customer Centricity Loyalty Loyalty Programs Rewards Programs 73

Currency Alliance

DECEMBER 13, 2018

Reward programs still have an important part to play in this effort; but they are only part of the picture. YouGov data from the UK shows that even the youth demographic – supposedly disloyal – thinks that points programs “are a good way for brands to reward customers and 59% think all brands should offer one.”.

Loyalty 45

Loyalty Trends Loyalty Programs Rewards Programs 45

Currency Alliance

FEBRUARY 10, 2020

Broadly speaking, most of the chains’ loyalty efforts have been in proprietary, albeit digitalized versions of the original S&H program: collecting in order to redeem for rewards, some digital couponing, and pushing out offers via a mobile app. All that said, the program isn’t perfect. fashion (Adidas).

Loyalty Programs 52

Loyalty Programs Loyalty How To Hotels 52