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Reimagining Customer Loyalty Programs

ShepHyken

This episode of  Amazing Business Radio with Shep Hyken  answers the following questions and more:    What are the latest trends in loyalty programs? How has the traditional concept of loyalty program evolved? How do loyalty programs impact a customer’s purchasing decision?

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Loyalty programs: should you issue your own points or miles?

Currency Alliance

Many people assume that operating a loyalty program necessarily implies issuing your own loyalty points or miles. Points and miles are a dominant and popular form of loyalty value. The golden benchmark is about $25 USD per year in loyalty value. This actually is not true.

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Loyalty Programs!?! We Don’t Need No Stinkin’ Loyalty Programs!!!

Beyond Philosophy

Without fear of (much) argument, it’s a fair statement that all companies want, and try to generate and achieve, optimum loyalty from their customer base. They should want this because study after study shows the financial rewards of having loyal customers. Customer loyalty programs are especially popular among retailers.

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What is More Important: A Good Product or a Good After-Sales Service?

GetFeedback

So, if you make them choose between a good product and a good after-sales service, you’re not on the right path. . Good products keep customers interested, but after-sales service keeps them loyal. And allowing your business to not address customers’ after-sale needs, you’re ruining the future of your brand.

Sales 277
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A Guide to Customer Loyalty Programs  

Kitewheel

Why Customer Loyalty Programs Matter. Customer loyalty programs influence the likelihood that a customer will continue purchasing from a given company rather than their competition. This brand loyalty is reinforced by an ongoing positive relationship between a customer and a business and damaged by poor experiences.

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Master the Market: A Deep Dive into Competitive Analysis

InMoment XI

Sales and Marketing Strategy Analysis: Break down competitors’ sales funnels and marketing campaigns. Operational and Financial Analysis: Look into operational efficiencies, production costs, and pricing structures of competitors. This financial foresight is vital for strategic planning.

Marketing 260
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Guest Post: Is Your Customer Journey Aligned with Brand Expectations? If Not, It Could Be Costing You Sales

ShepHyken

And more importantly, how can you ensure that it’s not costing you sales? This seems obvious but let’s look at a financial services use case: . Read Shep’s latest Forbes article: Trader Joe’s Loyalty Program Has Nothing To Do With Points Or Perks. What do customers expect from contact centers? .