Welcome to another roundup of articles, news, and insights about customer loyalty, retention, and rewards programs. Today we highlight how business can win customer loyalty and make a lasting impression, share tips to help combat against high attrition rates, and dig into why offering omnichannel experience can mean a 90% higher higher customer retention over those simply offering single channel experiences.
"...building a loyal customer base is essential, it’s not a given. A SmarterHQ study found only 7 percent of millennials consider themselves loyal to brands, choosing to shop where they can get the best price and the best experiences. Interestingly, it’s not just millennials that aren’t brand loyal. Shoppers from the baby boomer generation can feel overlooked and unrewarded — which translates to 93 percent of these once-loyal shoppers are also willing to spend with competing brands."
"To reduce churn, companies must analyze the most prominent reasons causing churn, and start taking actions to address them in their combat against high attrition rates."
"...when ecommerce marketers first began to realize they needed a seamless customer experience across channels, the first instinct was to put the brand at the center of the messaging. That led to most ecommerce brands sending the same message to every customer, over and over, until the customer either learned to tune it out, or worse, enabled an ad blocker to stop the constant barrage of messaging."
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