Companies Need Loyalty More Than Ever Let’s face it, getting a decent night’s rest these days is tough. Chances are counting sheep doesn’t even work when you’re tossing and turning over lingering COVID, the war in Ukraine, soaring gas prices, inflation at a X-time high, and a recession threatening to strike any day. The silver … Read more
Today’s consumers have an overwhelming stream of media and entertainment options. The new acquisition is driven by original content but to retain consumers you need to really know them and their needs are more diverse than ever. Gen Z and Millennials needs vary greatly from Baby Boomers—so it’s critical to understand the nuances—including their interests, … Read more
Constellation Research™, technology research, and advisory firm, Annex Cloud was recognized again on the 2022 Constellation ShortList for Customer Loyalty and Retention. Named solution vendors were determined by client inquiries, partner conversations, customer references, vendor selection projects, market share, and internal research. Constellation Research Advises Enterprises on Industry-leading Technology Constellation Research delivers strategic guidance to companies … Read more
The Direct Sellers Association (DSA) reports there were about 6.2 million Americans actively involved in direct sales or network marketing, at the end of 2020. Despite declining participation, the industry is still going strong with $40.1 billion in retail sales, 7.7 million direct sellers, and more than 41.6 million customers. Direct Sales Organizations Face Unique … Read more
Grocery chains have traditionally relied heavily on blanket one-size-fits-all offers and blind circulars to incent customers with aggressive discounts. Forrester reports that 80 percent of customers want to be treated as individuals and receive communications and offers tailored to their unique preferences—and this applies just as much to the grocery industry as any other. Today’s … Read more
Between the pandemic and Google announcing it’s planning to phase out third-party cookies, Consumer Goods companies are facing some tough challenges. It could be time to consider a loyalty strategy and turn those challenges into exciting and profitable opportunities. Here are four key CPG/FMCG trends and a few ways customer loyalty for CPG/FMCG can help … Read more
Brands have gotten so busy implementing strategies to acquire new customers that working on customer satisfaction has taken a back seat. From a practical standpoint, customer retention is more profitable than customer acquisition. The book, Marketing Metrics, emphasizes that companies have a 60-70% chance of selling to an existing customer while the probability of selling … Read more
The year 2020 shed light on the significance of customer retention and since then, it has been the talk of the town! While everyone stresses the importance of adopting this strategy, there isn’t much speculation about why and when you should focus on retention. In this article, we will learn about when you need to … Read more
There is an ongoing need for brands to deliver better customer experience. Better customer experience not only aids happy and engaged customers, but also drives customer retention. Customers nowadays have become intelligent with their choices. Most customers would leave if they had other choices that offered better experiences. This significantly affects customer retention goals of … Read more
Imagine collecting seashells from the shore, putting them in your beach bag, then returning home to find the bag was torn, and you were left with nothing! As a company, if you have faced a similar predicament of securing new customers through expensive marketing strategies and failing to retain them, you’ve wasted important time and … Read more
Brands invest heavily in customer acquisition, expecting and anticipating that these newly acquired customers will have a high customer lifetime value and remain associated with the brand for a long time. But customer churn is as inevitable and unpredictable as the stock market. According to a study by Kolsky, “1 in 26 unhappy customers will … Read more
At first glance, you would assume that customer loyalty outweighs customer retention. Who doesn’t want a strong set of loyal customers? Retaining customers may seem less important compared to having loyal customers, but what most fail to understand is that customer retention is a very important stage that leads to customer loyalty. How can you … Read more
Have you ever changed your broadband or telecom service provider because of the lousy services they offered? or Have you avoided a spa or restaurant that was poorly managed and had unprofessional staff? The answer to both these questions is most likely – Yes! According to Microsoft, “90% of Americans use customer service as a … Read more
Brands and companies across the world are focusing more on client retention programs as compared to customer acquisition. Ever wondered why? The answer is simple. Repeat purchases are cost-efficient, and more importantly, they promote brand loyalty. Loyal customers have a high customer value and are an asset to any company. They spend more on the … Read more
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