Deepening customer relationships is key to unlocking revenue potential
Loyal customers spend more. That fact alone should be reason enough for brands to leverage loyalty marketing programs. But the benefits extend far beyond increased revenue—loyalty programs help brands increase customer retention, customer lifetime value (CLTV), brand awareness, and customer satisfaction. They also provide companies with greater opportunities to capture rich first-party customer data. This data not only powers personalised customer experiences but allows for better, more-informed business decisions. 52% of customers say that loyalty programs are the key reason they choose specific retailers or brands.1 In short, loyalty marketing programs should be an essential part of every company’s customer acquisition and retention strategy. But many companies are unsure how to launch a loyalty initiative. From choosing the right type of program to figuring out how to promote it to your audience, this guide will help marketing leaders responsible for loyalty, branding, customer relations and customer acquisition to better understand how to deepen customer relationships through loyalty marketing – and how to launch and optimise loyalty programs.