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

BlueOcean

Check your wallet (digital and/or physical) – do you have loyalty cards for your favorite retail outlets? loyalty programs on average. Ulta tells a similar story— 95% of their revenue comes from their loyalty program members. The Downlow on Loyalty: Reciprocity is Key. But it’s more than that.

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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. It has been our experience that customers estimate how much value they can earn from a loyalty program before deciding to join.

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5 Ways for Grocery Retailers to Revamp Their Loyalty Programs in 2021

Oracle

2020 forced supermarkets and grocery retailers into reinvention mode. From the way consumers buy groceries to how they’re rewarded for their loyalty, the impact of shopping for essentials in a pandemic has permanently changed the grocery market. Digitize your program. Offer personalized discounts and cash back.

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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.

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15 Effective Ways to Improve Retail Customer Engagement

CSM Magazine

Customer engagement has become one of the most critical success factors for retailers looking to drive sales, loyalty, and overall business growth. However, with the increasing complexity and diversity of today’s retail environment, engaging with customers has become a more challenging task.

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7 Proven Customer Retention Strategies Every Retailer Should Know

SurveySensum

Do you know what’s the biggest problem in retail? According to the research study conducted by Harvard Business School, The Economics of E-Loyalty , increasing customer retention rates by 5% increases profits by 25% to 95%. These programs will help you foster a long-lasting and meaningful relationship with your customers.

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How Loyalty Programs Drive Customer Relationships: Experience TV Episode 9 Featuring Clay Walton-House from PK

Oracle

Loyalty programs are more popular than ever. As brands in every industry face more competition, customer loyalty is becoming harder to earn. This is the domain of loyalty programs, from the traditional points-based reward systems to fully-fledged membership experiences. ” LEGO is loyalty-obsessed.