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Loyalty programs cannot rely on earn-and-burn tactics, like mass offers, if they want to become revenue powerhouses. Customers today expect engaging, relevant, and personalized interactions. And with plenty of options at their fingertips, if a loyalty program is static, they’ll leave for a more rewarding relationship with another brand. To provide the kinds of relationships consumers are craving, brands need to modernize their offers. Retailers have traditionally relied on mass....

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