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Seven loyaltyprogram types: Pick the perfect fit by Marcus Marius (Dynamic Business) Did you know that companies that invest in loyaltyprograms report up to a 40% increase in revenue? My Comment: I’ve written many articles about loyaltyprograms. You can read the press release here.
In a competitive marketplace, this hyper-tailored approach to marketing is the key to creating and keeping customers who love your brand. Personalization, consistency, fun, trust, and a loyaltyprogram are what helps these brands create customerloyalty. Let’s learn from some of the best.
LoyaltyPrograms Are GrowingSo Are Customer Expectations by Ed Crouch, Ben Eppler, Lauren Taylor, Christina Mhlenbein, and Elizabeth Hearne (Boston Consulting Group) This article explains that the incentives companies offer in a loyaltyprogram must go beyond points, perks, and cash.
Consumers Crave More Than Discounts From LoyaltyPrograms by John Pedini (Forrester) Most global consumers belong to at least one loyaltyprogram, including 90% of online adults in the US, in Europe-5 (88%), and in Australia (93%). Most agree that loyaltyprograms make them feel more connected to the brand.
Nine Areas of Focus for Improved CustomerServiceTraining by Rolling Stone Culture Council (Rolling Stone) Because they have direct interactions with customers on a daily basis, a company’s customerservice team plays a large role in that organization’s success. Here are my top five picks from last week.
Balancing CustomerLoyalty 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. LoyaltyPrograms Should Encourage Competition.
My Comment: This article on customerloyalty appeared in an Australian and New Zealand jeweler magazine. In this article, you’ll read how some retailers are dealing with theft while not inconveniencing their customers. You don’t need to own a jewelry store to appreciate the ideas. Connect with Shep on LinkedIn.
My Comment: I’ve been studying how different brands are creating successful loyaltyprograms. While the article focuses on retail (especially e-commerce), anyone from any type of company (B2B and B2C) that has “VIP customers” will want to read this article. My Comment: Let’s move away from loyaltyprograms but stay with trends.
Guide To LoyaltyPrograms For Small Businesses by Allen Kopelman (Forbes) Loyalty is a key driver for any enterprise that depends on repeat business. Restaurants, retail stores, salons and a wide range of businesses leverage loyaltyprograms to keep customers coming back and transform occasional customers into frequent shoppers.
Deloitte Shares Loyalty Trends and Best Practices for 2024 by Alicia Esposito (Retail TouchPoints) To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts (77%) and loyaltyprogram points (61%), according to Retail TouchPoints research.
Brands Want Your Loyalty—and Will Offer More Than Points to Get It by Lauren Giella (Newsweek) Loyaltyprograms offer customers rewards, discounts or other perks when buying from or using the products or services of a certain brand. My Comment: Here is an excellent and robust article on loyaltyprograms.
Eliminate Inconveniences For Your Customers With These 5 Tips by Brittany Hodak (Brittany Hodak) When it comes to creating an exceptional customer experience, businesses often focus on the big gestures – impressive loyaltyprograms, flashy gifts, and over-the-top service at one or two big moments.
Good LoyaltyPrograms Drive Word-of-Mouth Recommendations by Bryan Wassel (Grocery Dive) Most customers will recommend brands with good loyaltyprograms, but few pass the test and make members feel recognized, a recent study found. But there’s more. Don’t overlook the data! Connect with Shep on LinkedIn.
4 Reasons Why Your CustomerService Is About to Get a Whole Lot Better in 2024 by Mike Murchison (Entrepreneur) When it comes to AI and customerservice, we’re going to see a virtuous cycle in 2024. This has a nice description of how AI will make customerservice better.
If you combine that with a great CX, customers will keep coming back. Top 5 CustomerLoyaltyPrograms That Work by Retail Merchandiser (Retail Merchandiser) In today’s competitive market, businesses need more than just quality products or services to retain customers—they need to cultivate loyalty.
by Reuben Yonatan (Fast Company) Customerservice (CS) and customer experience (CX) are the two faces of the same coin and go hand in hand with each other. They are often used interchangeably by businesses, but understanding the difference is crucial for businesses looking to thrive in 2024 and beyond. Shameless plug!)
In short, if you provide bad service, be prepared to lose sales/money. Our customerservice research finds that in 2024, the average consumer will give a company or brand two chances to make amends for a bad experience before moving on. But in 2023, these six retailers and brands set new standards of what loyalty can be.
My Comment: We open this week’s Top Five roundup with four experts from Gartner who share their thoughts about the top three customerservice and support trends for 2024. The subtitle of this article is the perfect summary: The integration of AI in customerservice isn’t about choosing between technology and humanity.
6 Must-Haves for Your Restaurant’s LoyaltyProgram by Cherryh Cansler (Fast Casual) Noodles and Co, Mooyah, Clutch Coffee and Hyve execs discuss why successful loyalty platforms feature 1. Heavy adoption by customer base driven by employees actively promoting 4. Ease of use. Engaging offers and new products.
Rewarding That Loyalty Is Mandatory. by Joe Procopio (Built In) In the age of AI, the relationship strands between a business and its customers are becoming thinner and thinner, opening up that relationship to various new and more complicated threats. My Comment: This is an interesting article on customerloyaltyprograms.
My Comment: When our clients are interested in our customerservicetraining for their “new” customerservice/CX initiative, they are excited and ready to start. My Comment: I’m a big fan of loyaltyprograms. However, most companies confuse a loyaltyprogram with a discount or incentive program.
So, what better time to cultivate some customerloyalty so you can supercharge your sales towards the end of the year? I do like it, but I think it is more about creating a customerloyaltyprogram focused more on repeat business than true loyalty. There is nothing wrong with that! What an honor.
The author of this article recognizes the good and bad that can come from this time of program. Are CustomerLoyaltyPrograms the Best Method for Retention? My Comment: Do loyaltyprograms create loyalty? It depends on how you define loyalty. It depends on how you define loyalty.
In the current competitive marketplace, however, the key to sustainable growth and success lies in building brand loyalty through emotional connection, a connection between brand and customer that goes beyond promotional tactics. Customerloyaltyprograms are often marketing programs offering discounts and perks for repeat business.
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