Customer Loyalty
How to Boost Customer Loyalty and Retention (and Know the Difference)
New customer acquisition has long been marketers’ bread and butter, but marketing professionals with their eyes on the ROI prize know customer loyalty and retention are just as important. Customer acquisition costs have been rising faster than customer lifetime value (CLTV) for some time now. In fact, it costs five times as much to acquire…
Read More3 Ways to Reduce Churn With Your Customer Data Platform
Has the power ever gone out in your home? Sitting in the dark is no fun, but losing all the food in your refrigerator is even worse. The satisfaction of crossing a household chore off your list? Gone. Your big dinner party plans? Finished. All the meals you were looking forward to cooking? Out the…
Read MoreHow Clienteling Builds Long Lasting Relationships With Your Customers
Covid-19 has altered how consumers shop forever. How consumers shop is evolving faster than ever before, and brands are exploring new ways to bring innovative, exciting and personal shopping experiences to their customers’ digitally and brick and mortar stores. It’s no shock that clienteling is a critical attribute of successful retail businesses. If you aren’t…
Read MoreWhy Data Should be In the Center of Your Customer Centric Strategy
I placed my first order on Amazon.com December 11th, 1998. It was a book. That’s pretty much all Amazon sold back then. But back then, Jeff Bezos had already set the mission that still drives the company today: to become “Earth’s most customer centric company.” That mission has catapulted Amazon to the rarefied air of…
Read MoreWhat Is Customer Lifetime Value?
Customer lifetime value (CLV) is the total revenue a single customer spends with your business over the entire span of their relationship with your brand. It’s one of the single most important metrics you can track. And for customer experience (CX) professionals and marketers, it’s an absolutely fundamental “North Star” key performance indicator (KPI). Succinctly…
Read MoreBeyond the Pareto Principle: Five Steps to Capitalize on High-Value Relationships
Many marketers have increasingly embraced the Pareto Principle, the idea that 20 percent of their customers generate 80 percent of their revenue. Given this, it makes sense they would invest a disproportionate part of their resources marketing to their best customers, since it can have a much greater impact on revenue than indiscriminate, batch-and-blast messaging.…
Read MoreRadical Relevance: Supercharge Loyalty with the Customer Data You Already Have
With customers never more than a tap away from competitor offerings, customer loyalty is never a given. It is an asset you have to earn over and over again. That is why the customer connections you cultivate are as important as the product you are selling. And to build a quality connection with a customer,…
Read MoreSupercharging Brand Loyalty With Your Own Customer Data
In the digital age, brands can no longer count on the fact that a certain percentage of their new customers will ultimately convert to loyal ones. When consumers have so many choices at their fingertips, brands must win loyalty over and over with each customer interaction, writes Tamara Tamara Gruzbarg, ActionIQ’s head of industry…
Read MoreMake Your Loyalty Program Stand Out From the Crowd
Loyalty is booming; just take a look at the numbers. According to Colloquy, U.S. consumers hold 3.8 billion memberships in customer loyalty programs. But for each of these billions of memberships, are customers really getting what they want? And how can you differentiate to make the impact, keep members happy, and make your program stand…
Read MoreMaking Loyalty Matter in the Age of the Fickle Consumer
Consumers are in control. Empowered by mobile and digital freedom, they can product hunt and price shop without barriers. With the swipe of a thumb they can leave your online store and buy from a competitor. Forrester calls this new era the “Age of the Consumer” and urges companies to become “customer-obsessed” to regain…
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