Increased Customer Acquisition Costs Put on Emphasis Customer Loyalty
SimplicityDX announced a new research study showing the escalating costs of customer acquisition. Customer acquisition costs have increased by as much as 60% in the last five years according to industry estimates, but key factors have compounded the challenges for brands, including the demise of third-party cookies and increased consumer privacy legislation.
A renewed focus on collecting first-party data, such as customer contact data on brand websites, has become increasingly important as brands struggle to make e-commerce profitable in the post-pandemic period. Driving repeat sales through targeted marketing is the key to getting customers profitable and maximizing lifetime value.
JPMorgan Launches Travel Agency
JPMorgan is assembling its own full-service travel business with a booking system, luxury travel agency, restaurant reviewing, airport lounges and a new website. With the new offerings, JPMorgan could become the third-biggest travel agent in the country. The idea is for JPMorgan to control the entire shopping and buying experience for purchases that customers are passionate about.
Travel has been at the center of JPMorgan’s card offerings since it launched Sapphire Preferred, and the premium version Sapphire Reserve, allowing users to build up travel dollars not tied to a single airline or hotel.
Hilton Honors and American Express New Member Welcome Promotions
According to the new Amex Trendex poll, 68% of respondents planning on traveling next year agree they plan to travel more in 2023 than they did in both 2022 and 2021. Hilton Honors and American Express are offering three limited-time welcome offers. Eligible new Hilton Honors American Express Card Members can earn Bonus Points and Statement Credits as they book their stays.
New Hilton Honors American Express card members can earn 100,000 Hilton Honors Bonus Points on eligible purchases, while new Hilton Honors American Express Surpass and Business card members can earn up to 130,000 points. For as little as 100,000 points, members can book three nights at participating Hilton Hotel locations.