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You can find it here: Introduction B2B loyalty conjointly with adoption are the cornerstone of sustainable growth in an increasingly competitive global market. In this context , loyalty becomes more than just a metric; it is an indicator of long-term partnership strength. But what truly drives loyalty in the B2B space?
Check your wallet (digital and/or physical) – do you have loyalty cards for your favorite retail outlets? loyaltyprograms on average. Ulta tells a similar story— 95% of their revenue comes from their loyaltyprogram members. The data is clear—loyalty pays… but it is often harder to achieve than it looks.
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.
Consistently providing exceptional service can strengthen loyalty and reduce the likelihood of customers looking elsewhere. The following steps can help improve CX in this area to enhance both satisfaction and loyalty: Make it easier for customers to manage their accounts. This approach is crucial for driving loyalty.
See the difference control groups make in this guide Download Now Why it Matters: This post is important for retail marketers as it highlights how loyaltyprograms extend beyond simple discounts to foster deeper engagement and long-term brand affinity. See more about retail customer loyalty below.
What Customers Really Want From a LoyaltyProgram by Eileen Stephens (CMSWire) Customer loyaltyprograms 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.
Customer LoyaltyPrograms Create Loyal Customers: Loyaltyprograms are usually about points, perks and discounts. In reality, they are marketing programs that do a great job of bringing customers back. We love repeat customers, but dont get caught believing your repeat customers are truly loyal.
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. Here are seven signs your loyaltyprogram may need a redesign. Here are seven reasons why a loyaltyprogram might fail.
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?
LoyaltyPrograms That Offer Real Value – More than points and discounts, create a program that makes customers want to do more business with you. Learn more about Shep’s customer service and customer experience keynote speeches and his customer service training workshops at www.Hyken.com.
A gentleman who travels extensively and is a top-tier member of a hotel loyaltyprogram was telling me he just wished they’d ask him a few questions. When conducting a recent touchpoint inventory workshop, the client was surprised when I pressed for what their brand promise really was. A great experience, but for whom?
LoyaltyPrograms by Marketoonist (Marketoonist) According to BCG, the average US consumer now belongs to more than 15 loyaltyprograms. BCG also found that as the number of loyaltyprograms has increased, the less engaged and loyal consumers actually are. Get ready to smile! Connect with Shep on LinkedIn.
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 customer loyalty and profitability, and the CXO helps eliminate departmental barriers and help implement the right CX technologies and solutions. Are Your CX Metrics Hurting Your Customer Experience?
Crafting a Successful Customer Loyalty Campaign by Denis Hure (Reward the World) Customer loyalty is the backbone of sustainable business growth. At Reward the World, weve seen firsthand how a well-crafted customer loyalty campaign can transform casual buyers into brand advocates. The goal is to create an emotional connection.
Starbucks Raises the Bar on Customer Loyalty with Ad Campaign from Anomaly by Andrea Surnit (DesignRush) Companies that integrate storytelling, sensory marketing, and customer incentives can cultivate long-term relationships that ultimately drive revenue. This article serves up three giving back ideas/concepts to help build customer loyalty.
Personalization, consistency, fun, trust, and a loyaltyprogram are what helps these brands create customer loyalty. Anything less than meeting those higher expectations results in reduced loyalty. My Comment: Let’s learn from some recognizable brands about how their relationship marketing. Average won’t cut it.
This is a key indicator of your organization’s customer loyalty and success in building lasting customer relationships. Implement LoyaltyPrograms Implementing a loyaltyprogram can be one of the most effective customer retention strategies that your organization invests in. Why is Customer Retention Important?
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.
Lessons from the Field: 3 Easy Ways to Customize Customer Experiences & Increase Brand Loyalty by Anand Subbaraj (Fast Company) Personalization encourages customers to both return for more service and recommend that service to others. My Comment: This week’s TOP FIVE roundup has a theme: Customer Loyalty.
a customer engagement platform, has released new research emphasizing the critical role of effective listening in enhancing brand loyalty and customer satisfaction. Returns: The Silent Killer of Profits or a Tool to Build Customer Loyalty? My Comment: If you have a loyaltyprogram, this article is for you.
My Comment: I’ve been studying how different brands are creating successful loyaltyprograms. 3 Trends That Will Likely Dominate Customer LoyaltyPrograms In 2024 by Zsuzsa Kecsmar (Forbes) Loyaltyprograms are often recognized as a way to retain customers and let companies showcase their brand values.
The experience a company provides is often as important as its products or services when it comes to customer satisfaction and loyalty. My Comment: A good loyaltyprogram helps drive repeat business and, according to the author of the article, is a good strategy for referrals and recommendations. But there’s more.
Your customer retention is super important to your bottom line—after all, customer loyalty 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 customer loyalty. LoyaltyPrograms. White Papers.
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 customer loyalty. It’s often been thought to be a key driver of loyalty. Brand Loyalty Is Lagging. What’s emotion got to do with it?
“ Am I expected to mention our loyaltyprogram anymore? Why isn’t that happening this time?” ” Meanwhile, the agent is insecure about procedures because of a memo about a new way to greet guests. Now she's giving you the secrets to start your Customer Experience Mission for free!
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.
That’s why customer engagement must become an essential KPI for every business that cares about loyalty and lifetime value. Watch the 3-minute mini-workshop or read the transcript just below it to find out: Customer Engagement – A Key Success Strategy for Any Business. How Do You Measure Customer Engagement? Reach Out ?at
They demand fast shipping, easy returns, sustainability and more, showing little loyalty and appreciation. How to Make Loyalty a New Business Line for your Brand? In the last couple of years, there has been a radical shift in this with brands foraying into loyalty with full force. Connect with Shep on LinkedIn.
Consumer Insights: Customer Loyalty Has Changed by Anastasia Lloyd-Wallis (Jeweller) There’s been a significant shift in the focus of loyalty in the retail sector. My Comment: This article on customer loyalty appeared in an Australian and New Zealand jeweler magazine. In essence, they’re becoming brand advocates.
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. And, its customers are loyal.
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. My Comment: You will want to read this article if you own a restaurant and have a loyaltyprogram. Ease of use.
My Comment: Let’s start this week’s Round-Up with a very short article (one-minute read) that includes a list of things people say that kill customer loyalty. by Jacqueline White (Entrepreneur) Building brand loyalty previously relied on price. Discounts and Deals Used to Be Enough to Make Loyal Customers — But Not Anymore.
LoyaltyPrograms – A Few Best Practices by MTS Staff Writer (MarTech Series) Loyalty management encompasses more than just software or a vendor running a loyaltyprogram. My Comment: There have been numerous articles in this weekly roundup that have focused on customer loyalty.
Traditional loyaltyprograms, which often offer points or cash rewards, are being outdone by a new trend: experiential rewards. My Comment: I’m a fan of rewards and loyaltyprograms for a reason. Done well, they foster repeat business and can lead to true customer loyalty. Connect with Shep on LinkedIn.
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. Connect with Shep on LinkedIn.
Customer Loyalty Matters More Than Ever. Rewarding That Loyalty Is Mandatory. Rewarding That Loyalty Is Mandatory. My Comment: This is an interesting article on customer loyaltyprograms. 3) Tracking customer loyalty boils down to math. Traditional loyaltyprograms are based on transactions.
Loyalty incentives programs 15. Host seminars and workshops 18. Loyalty incentives programs Creating a rewards system for customers is a great way to boost loyalty and repeat business. Make sure to update your loyaltyprogram often so it remains fresh and exciting for customers.
Loyalty is a Strategy, Not a Program by Kevin Susman (Total Retail) In the commercial innovation workshops I lead around the globe, there are many strategies that clients and customers want to cover. However, without fail, I always get asked what can be done to improve customer loyalty. Connect with Shep on LinkedIn.
As Inflation Bites, LoyaltyPrograms Are More Important Than Ever. Here’s How to Create One That’ll Stand the Test of Time by Colleen Murray (Entrepreneur Media) Chances are your loyaltyprogram is failing. Others are suggesting an amount much larger than what the typical customer is used to.
Customer Loyalty and LoyaltyPrograms- How it Helps a Business? My Comment: I’ve suggested many different articles on loyalty over the year. Here’s another that includes over 20 “topics” on the benefit of customer loyalty to a business. There’s something here for every company, from small to large.
Co-creation can be as simple as inviting in a customer cohort to a workshop or asking for feedback directly along the way. Starbucks has also enjoyed success in similar co-creation fashion with customer ideas on everything from new drinks to loyalty perks. This can lead to the first layer of your service blueprint.
Now, let’s cut to the chaise to uncover practical strategies that create such engaging retail experiences that foster loyalty and repeat business. It’s a well-known fact that crafting a standout customer experience in retail is central to building customer loyalty and fine-tuning interactions for that magnetic draw. The result?
Exploring Customer Loyalty and Retention by Vijay Iyer (Total Retail) Effective customer retention extends beyond product or service quality, emphasizing ongoing customer engagement post-purchase. My Comment: Lately, I seem to be attracted to articles on loyaltyprograms. It’s nice to see this idea again.
Run workshops or video tutorials to get them comfortable, and always provide hands-on practice. Offering Loyalty and Incentive Programs Why do people keep going back to their favorite coffee shop, hotel, or airline? Simpleloyalty programs. Referral Programs : Encourage existing customers to bring in new business.
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