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Lately, I’ve been asked about loyaltyprograms. Any company can create a loyaltyprogram. But, there is some confusion around what exactly a loyaltyprogram is. Anything you do to get a customer to start to do business with you – and gets them to return – could fall under the concept of a marketing strategy.
What Customers Really Want From a LoyaltyProgram by Eileen Stephens (CMSWire) Customerloyaltyprograms have become a multi-million-dollar industry and a critical driver of revenue for brands. Forecasts point to significant growth in spend expected through loyaltyprograms in 2025.
Only the Front Line Needs CustomerServiceTraining: Everybody in an organization is responsible for their role in customerservice. If they arent dealing directly with customers, they are supporting someone who is, or they are part of the process that impacts the overall service and experience.
Your customer retention is super important to your bottom line—after all, customerloyalty is well-known for being more valuable than customer acquisition. With stakes this high, it’s essential that you build a solid customer retention plan that can lead to long-term customerloyalty.
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. Connect with Shep on LinkedIn.
Qualtrics fourth annual Consumer Experience Trends report reveals the stakes: despite fewer negative interactions, consumers are quicker to cut spending after bad experiences, while trust, loyalty, and satisfaction have all fallen over the last year. Not doing so is a risk to the long-term survival of your company! My Comment: A new metric?
Empowered Employees – Customers want to work with employees who can make good customer-focused decisions and don’t have to ask a manager whenever there is a unique or special request. LoyaltyPrograms That Offer Real Value – More than points and discounts, create a program that makes customers want to do more business with you.
The Gist, as it is referred to in the article, is that CXOs help align initiatives throughout the company, companies led by a CXO see stronger customerloyalty and profitability, and the CXO helps eliminate departmental barriers and help implement the right CX technologies and solutions. Connect with Shep on LinkedIn.
Crafting a Successful CustomerLoyalty Campaign by Denis Hure (Reward the World) Customerloyalty is the backbone of sustainable business growth. At Reward the World, weve seen firsthand how a well-crafted customerloyalty campaign can transform casual buyers into brand advocates.
If customers cant get the support they need from one company, they may leave and try a different company hoping for a better result. 7 Signs Your LoyaltyProgram Needs a Redesign by Cassie Preston (Retail Dive) In a fast-paced world where shopper behaviors evolve rapidly, loyaltyprograms must adapt to stay effective.
Personalization, consistency, fun, trust, and a loyaltyprogram are what helps these brands create customerloyalty. According to a Deloitte survey, brands that have achieved customer centricity are 60% more profitable than those that haven’t. Customers’ expectations continue to rise.
This article from customerservice expert Jeff Toister provides seven ways leaders can become role models on how their employees should act toward each other and their customers. How to design and run a customerloyaltyprogram for small businesses by Raúl Galera. Read on to learn more. That’s marketing.
Next Generation Loyalty – Part One by Braden Kelley. Braden Kelley) Marketers have an overly optimistic perspective on customerloyalty and their implementations of customerloyaltyprograms. I’m a big believer that the typical loyaltyprogram is actually a marketing program.
(ZDNeT) Customerservice is experiencing a renaissance, and with the right imagination, intention, and technology, it can also become a business growth engine by driving satisfaction, sales, and loyalty. How 5 Brands Adapted Their LoyaltyPrograms for a Post-Covid World by Stephanie Miles. Thank you MattsenKumar!).
It’s prime time for retailers to grow an Amazon-level loyaltyprogram by Tom Caporaso. Retail Customer Experience) Clarus Commerce CEO Tom Caporaso believes it’s time for retailers to take advantage of the new membership economy. My Comment: Here’s a great article about customerloyalty.
I love the formula: Customer-Centric Mindset + Happy Employees = Company Success. Put another way, before you can have an amazing customer experience, you must start with an employee experience. The Untapped Potential of B2B CustomerLoyaltyPrograms by John Rolston and Jon Glick. Absolutely!
Or, maybe a better question is: When should chat-bots replace humans for customer support? Seven Tips For Successful CustomerLoyaltyPrograms In 2019 by Sallie Burnett. My Comment: My belief is that many customerloyaltyprograms are actually marketing programs. That’s not a bad thing.
Six Steps for Improving Customer Engagement and Loyalty by Genelle Kunst. Chain Store Age) Establishing a loyaltyprogram is a fundamental first step to improving customerloyalty. However, there are other key strategies that can help improve customer engagement and retention. And there are nine more!
Deep Dive: How Rewards Programs Can Fuel Customer Spending by PYMNTS. PYMNTS) Starbucks has a winning recipe when it comes to taking care of its customers. The Seattle-based coffee giant’s loyaltyprogram has 19 million active members that account for 48 percent of its annual revenue. Follow on Twitter: @Hyken.
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.
In contrast to a loyaltyprogram, gifting is a cost effective way to achieve tangible and significant results. We are just heading out of the gifting season, but it’s not too late to understand the impact a gift to a customer can make. My Comment: Here is a fascinating article about loyalty and the customer experience.
CustomerLoyalty! ROI, website visits, website return visits, shopping cart abandonment rates, and average customer spend are all important and well-used metrics to evaluate the success of a business. Are you putting Customer Experience theory into practice? Here are my top five picks from last week. by Chad Storlie.
When Loyalty Rewards Expire, So Does A Customer’s Loyalty by Dan Gingiss. Forbes) Rewards programs can be lucrative for loyal customers, but when companies add lots of rules and restrictions to a loyaltyprogram, it can actually have the opposite effect. Most drive repeat business.
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.
Customers expect an easy and convenient experience with anyone they do business with. A great product delivered with a great customer experience that is also easy is a winning combination. The New Era of Loyalty: Why Brands Should Embrace Loyalty Schemes by Stoyan Petrov. It’s about customerservicetraining.
How to Run a CustomerLoyaltyProgram by ThriveHive. ThriveHive) This article will give you a run-down on the basics of customerloyalty marketing and programs, how they work, and how you can use them to retain more customers with your business. Loyalty Trends in 2020: How Will This Year Be Different?
How to Build the Ultimate LoyaltyProgram Explainer Page (With Examples) by Patrick Trochaniak. Smile.io) Your explainer page is what convinces your customers to join your loyaltyprogram. Since you want to maximize the number of members in your program, building your explainer page should not be an afterthought.
Lessons from the Field: 3 Easy Ways to CustomizeCustomer Experiences & Increase Brand Loyalty by Anand Subbaraj (Fast Company) Personalization encourages customers to both return for more service and recommend that service to others. All five of this week’s articles are focused on customerloyalty.
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.
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.
What’s the Difference Between Customer Satisfaction and CustomerLoyalty? HubSpot) Customer satisfaction is a measurement of a customer’s attitude toward a product, a service, or a brand. It’s usually measured by a customer satisfaction survey on a numerical scale. by Jimmy Rodriguez.
Someone recently referenced the book and this famous line, and it made me think about how customers are treated. Are all customers equal? Loyaltyprograms promote perks, rewards, elite status and more, which might suggest that not all customers are equal. But, what about when it comes to customerservice?
Rethinking Customer Interactions to Boost Customer Experience by Harvard Business Review (Harvard Business Review) Simply put, customer experience (CX) has the power to make or break business success. Shep Hyken is a customerservice/CX expert, award-winning keynote speaker, and New York Times bestselling author.
My Comment: If there were four things you could do that would ensure your customers would come back, what would they be? Josh Linkner, innovation guru, shares four core ideas that build loyalty. Some of you may think these are common sense, but then think about how often you don’t experience these when you’re a customer.
7 Ways to Boost Customers’ Emotional Connection and Loyalty with Your Brand by Annette Franz (MarTech) Loyalty. That emotional connection to a brand is extremely important to customerloyalty. It’s often been thought to be a key driver of loyalty. Brand Loyalty Is Lagging. However, it’s a good start.
It’s been a while since I approached the topic of customerloyalty. All of the tips, ideas, tactics, and techniques I write about are about driving a better customerservice experience, which can (and hopefully will) lead to customerloyalty. Loyalty is an emotion. Satisfactory is a rating.
If you want to ROCK your loyaltyprogram (if you have one), you’ll enjoy this article. Is Simpler Better For Rewards Programs? RetailWire) Non-tiered customerloyaltyprograms were found to increase customer value by almost 30 percent over a five-year time period. There are plenty of great ideas.
More Than One-Third Of Shoppers Would Pay For Enhanced LoyaltyPrograms by Marie Griffin. Retail TouchPoints) With the benefits of loyaltyprograms well known, competition among brands for members and a larger share of their spending is fierce — and consumers know it, so they are expecting more in return for their loyalty.
Here are ten ways to make your business more customer-centric: Understand Your Customers: Conduct regular market research and customer surveys to understand their needs, preferences, and pain points. Develop detailed customer personas to better tailor your products, services, and marketing efforts.
Here are six ideas that will make customerservice both more personal and engaging. Successful customer experience moves past loyalty and towards desire b y Barb Mosher Zinck. Diginomica) When it comes to customer experience, companies struggle to bridge the gap between loyalty and desire. Great article!
4 Ways Brands Are Boosting CustomerLoyalty by Scott Clark. CMSWire) Customerloyalty refers to customers who continue to do business with a brand as a preference over competitors. This article will look at the ways brands focus on these four elements to enhance customerloyalty.
He’s done the research, and if take the time to read this article (and his book), you’ll find ways to delight your customers, as well. CustomerService Is the New Upsell by David Wagoner. Business 2 Community) We all know that keeping your customers happy is the key to building loyalty and earning repeat business.
Mismanage the customer’s experience an d you may shatter the relationship and any hope for future business. Why Paid Memberships Are the New Loyalty by Doug Stephens. The Business of Fashion) What if businesses could turn transient loyalty into something deeper and more engaging? by Nick Ismail. Follow on Twitter: @Hyken.
A Billion Reasons Why Loyalty Marketers Need Customer Identity by Mike Sands. Martech Today) While it might seem easy to get consumers to sign up for your loyaltyprogram, keeping them active and engaged is another story. Columnist Mike Sands explains how a customer identity solution can help.
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