Your customer data should be telling you more than numbers. Customer Lifetime Value models take data such as repeat purchase rate or average time to repurchase and turn them into incredible insights for how to find the right customers, increase purchase frequency, and maximize your eCommerce success. How do you visualize your business model? What … Read more
It goes without saying that increasing your engagement can increase your business success. Engagement marketing is creating strategic, intentional, meaningful and personalized messaging to engage with your customers to build lasting relationships. Instead of flashing ads, it’s more important to connect with your modern customers through meaningful interactions and engagement marketing plays a vital role … Read more
In today’s times when change is the only constant, retaining your loyal customers is critical for success. The payoff for customer retention is big: a 5% increase in retained customers yields 25-95% more profit, according to Bain & Company. Loyalty rewards programs can not only turn your shoppers into brand advocates, but also improve positive … Read more
Don’t we all agree that it costs a lot more to acquire a customer (which is almost 25 times more expensive) than to retain them? The same is true for your relationship with B2B customers. Which means retaining your B2B customers is vital to the growth of your business. Hence business rewards programs are the … Read more
As shoppers continue to prefer online shopping, integrating social media with ecommerce is going to be one of the most powerful strategies for brands in 2021. Owing to Covid-19, the global social commerce market is expected to grow at a rate of 31.4%. Social ecommerce enables users to shop directly from social media. It is … Read more
Loyalty initiatives have been commonplace in the B2C space but, due to increased competition, B2B businesses are waking up to the fact that investing in loyalty is vital. In today’s times when change is the only constant, retaining your loyal customers is critical for success. The payoff for customer retention is big: a 5% increase … Read more
According to SmarterHQ, 63% of consumers stop purchasing products and services from companies who poorly execute personalization. Personalization is good for business. In fact, Adweek reports that personalization can reduce acquisition costs by as much as 50%, increase revenues up to 15% and increase marketing spend efficiency as much as 30%. No wonder that, according … Read more
2021 is the time to put customer needs at the forefront. In the age of empowered customers, companies need to go the extra mile to find out what the customer really wants in order to earn their loyalty and establish a lasting relationship. Did you know that client-centric companies are 60% more profitable (Deloitte)? Customers … Read more
So, Larry goes out to the market to buy a washing machine. Seller A offers Larry “The best washing machine in town,” with good horsepower and a sleek new design. Seller B offers Larry a smartly designed, German-engineered washing machine, with 5 HP, 14 lbs. capacity, and one year warranty. Which machine do you think … Read more
What springs to mind when you think of customer loyalty? Loyalty programs in the form of cards, points, rewards and other incentives. But while loyalty programs can bring customers through the door, they must go beyond transactional-based rewards to create a long lasting relationship with the customer. A points-based reward system leads to transactions but … Read more
In times when fierce competition and consumer volatility are commonplace, loyalty plays a vital role for every marketer. Loyalty is a surefire way to help you differentiate yourself from your competitors, solidify your brand community and increase customer lifetime value. Your customers should be at the core of everything you do, it’s about creating the … Read more
While winning new leads and acquiring new customers are key, focusing on retaining existing customers by having effective customer rewards solutions is a growing priority for most marketers. According to the annual State of Marketing research, 63% of top performing marketers believe in and are already using customer rewards programs. An effective customer reward program … Read more
The tremendous changes and growth in the telecommunications industry have created new opportunities for providers and a battlefield for keeping customers. An increasingly competitive environment has arisen with the emergence of new networks. The ever-changing demands and preferences of customers have shifted the focus of providers towards building customer loyalty. To compete in this new … Read more
The hospitality sector is a highly competitive market, which creates challenges for hoteliers in gaining customer loyalty. As travel and hospitality loyalty programs can prove to be a key driver in retaining customers and gaining patronage and loyalty, businesses should launch a robust loyalty program to target consumers in unique ways and offer more personalized … Read more
Customer loyalty has evolved onto digital platforms and allows businesses in all sectors to engage with their customers in multiple, innovative ways. The loyalty programs have taken companies by storm as they encourage (and incentivize) specific behaviour from customers. A robust education loyalty program motivates students throughout their journey while fulfilling the institution’s ultimate goal. … Read more
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