The latest news in the world of customer experience and customer loyalty.
How James Allen Is Disrupting the Jewelry Industry
Who knew that making the online process for customizing an engagement ring simple and seamless could lead to major disruption within the jewelry industry? Well, that’s exactly what has transpired at James Allen, according to this article in Entrepreneur. Simplifying the process has made James Allen a recognized name in the industry, enough to be acquired last year for $328 million. We wrote about how challenger brands can disrupt and create great customer loyalty.
Telling It Like It Is Works Wonders for Brand Loyalty
Telling it like it is isn’t the norm for brands, according to an article in Small Biz Daily. Brand transparency is seen as an absolute imperative today if companies have a shot to earn and retain customers for the long haul. The No. 1 quality, according to the article, that consumers demand from brands is honest communication about products and services. We wrote an article in December about how Moosejaw CEO Eoin Comerford said that a company’s loyalty program must be transparent and easy to understand.
Doing the Math: Calculating Value of the Customer
We hear it all the time: The customer is invaluable. Well, yeah. Sort of. Without customers, there’s no business. But the reality is, all customers are valuable. It’s just that not all customers are created equal. Some carry with them more value than others. Understanding and identifying customer value is by far the most important thing a business can do to grow, according to an article in Inc. magazine. It goes on to identify four steps to calculating customer value. Inc. also identified eight ways of measuring the value of the customer.