After a relaxing holiday break we're back with the latest edition of our Customer Loyalty Roundup of articles, news, and insights about customer loyalty, retention, and rewards programs. To start the new year off right we're highlighting customer retention beyond the holidays, capturing the skeptical consumer, business growth levers, churn reduction with data and the digital path to customer loyalty.
"...Now that you have these new customers, how do you retain them after the holiday rush? This is especially important when, on average, it costs seven times more to win a new customer than to retain an existing one."
"...Research finds that engaging, omnichannel loyalty programs are valuable to consumers. During this age of increasing consumer distrust, loyalty programs provide brands the opportunity to capture rich, opt-in customer data."
"Attracting and retaining customers has always been a tricky situation, but today’s fragmented climate of digitally native brands, direct-to-consumer brands, and, well, Amazon, have made the landscape more perilous than ever for enterprise brands. Many enterprise brands have chosen to pursue a digital transformation strategy to elevate customer experience and improve competitive execution."
"Think customer loyalty programs are all about getting generic discounts, points and rewards? Think again. That was the old school way of doing things. Today, it’s more about offering customers something as personalized as possible, so that they feel truly special."
"It’s no wonder that banks find it harder to earn customers’ loyalty and advocacy. Loyalty stems not only from trust, but also from how well banks deliver value as perceived by customers."
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