With competition just a few clicks away, customer loyalty is more important than ever before. Loyal customers improve your brand image, convert quicker, cost 5-25X less than acquiring new customers, and are likely to shop with you more often.
But if you want your customers to be loyal, you can’t treat them like everyone else. A successful loyalty program is not just about driving revenue. It’s about truly getting to know your customers and using that knowledge in practice to deliver unique, one-to-one experiences.
When it comes to building relationships, personalization and relevance are key. Companies lose $1 trillion in annual revenues to their competitors because they are not consistently relevant enough, and 40% of loyalty marketers say personalization is their top challenge.
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