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The backdrop of loyalty is changing, fast. What was working for your loyalty programs three years ago – maybe even one year ago – might not be working anymore. According to Forrester Research, 41% of companies with revenue of $1B or more say "increasing or enhancing customer engagement, education, or loyalty" is one of their biggest challenges – this figure rises to 60% for companies with revenue of less than $1B.
Continuously increasing consumer demands for personalization, economic challenges with inflation, and heightened pressure from boards and shareholders to increase customer retention have all fallen upon the shoulders of marketers to navigate. And with these challenges now come initiatives to consolidate marketing budgets – a tall order for even the most savvy marketers, as messaging and loyalty solutions often have completely distinct providers.
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