Customer retention has become a major focus for businesses. Yet, loyalty as a concept is vague, and we are seeing growing interest across a number of channels and verticals within the market to define what “customer retention” means. Does it mean that a customer repurchases? Does it mean that a customer interacts with your brand on social media? Where does advocacy fit into the picture?
Many marketers equate customer loyalty with a points or rewards program, but it is much more than that. Loyalty is and should always be concerned with the behaviors and motivations…
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