Remove Engagement Remove Loyalty Programs Remove Meeting Remove Rewards Programs
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Building a Better Loyalty Program (and the Reward for Getting It Right)

BlueOcean

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. The Downlow on Loyalty: Reciprocity is Key.

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Why Confusing Inertia With Loyalty Will Eventually Kill Your Business

Beyond Philosophy

In a meeting with a long-time client, I learned how pleased they were with their repeat business, which they saw as loyal customers coming back for more. However, when they showed me the repeat business stats, what I saw wasn’t loyalty; it was inertia. The rewards program becomes part of the offer.

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Why Engagement Strategies & Investment Are Important for Customer Retention

ProProfs Chat

And, a well-designed loyalty program can act as a profitable investment and reduce the likelihood of customers going to your competitors. Take the example of Victoria’s Secret loyalty program PINK Nation. Simple formula: Customer Retention = Engagement + Investment. Engagement Generates Activity.

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What is relationship marketing: examples and strategies

BirdEye

Boost customer retention – Engaged and connected customers grow into loyal patrons and this improves the overall customer retention rate of your business. Increase sales – Existing customers trust your brand and know your products, so they’re more likely to continue purchasing and engaging with your business.

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11 TED Talks to Inspire Better Customer Support

Kayako

Instead of implementing a “loyaltyprogram that has nothing to do with loyalty (and everything to do with discounts), Van Belleghem says think instead about how you would treat your best friend if he or she became a client. Customer loyalty programmes…why bother! This will drive loyalty more than rewards programs.

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Precision loyalty: data-led investment yields greater ROI

Currency Alliance

This article explains how loyalty partnerships among complementary brands can produce more comprehensive customer understanding that drives down cost while strengthening engagement – and how to apportion loyalty investments. These collaborations allow members to earn and redeem reward currencies across a spectrum of brands.

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5 Best Customer Retention Software to Try in 2024

SurveySparrow

For example, you could automate emails to welcome new customers, thank them for their purchases, or re-engage with those who haven’t interacted with the brand recently. This consistent engagement keeps your brand on customers’ minds. Eventually, it can foster loyalty and encourage repeat business.