Conversion and acquisition are key metrics to any lucrative business, but mastering the art of retention is the ultimate indicator of success. Why does retention matter you ask? 80% of future revenue comes from just 20% of existing customers! While it certainly can be a challenge, it is possible to transform customers into brand advocates in 3 steps with the help of customer loyalty programs.
Step 2: Determine what is important to you and to your shoppers
Step 3: Segment, personalize, and remarket
Research confirms that customers are more likely to remain loyal to a company if rewards are offered. In fact, 75% of consumers would switch brands if offered real-time discounts and promotions while shopping on a site.