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Customer loyalty programs are becoming increasingly popular and are especially important to retail business success. In fact, Nielsen found that 84% of consumers are more likely to choose retailers that offer such a program, and 59% report that they’re available where they already shop.
New retail imperatives: Loyalty, customer experience, the single customer view Sean Keith, director of new business, Eagle Eye, writes that retailers often neglect one .
Apr 20, · Customer loyalty isn't what it used to be. In fact, research company Access Development reported that 79% of customers would take their business to a competitor within a week of experiencing poor customer service, while the estimated cost of customers switching their choice of businesses due to poor service is $ trillion. Mar 25, · Since next month (April) is International Customer Loyalty Month, it’s a great time to discuss the topic of loyalty programs. Most people think of loyalty programs as an airline that gives miles to frequent fliers, a hotel that gives points toward a stay or a restaurant that offers a punch card incentive.
Customer retention is the primary goal of a retail customer loyalty program. The Cost Per Acquisition (CPA) for a new customer is often much higher than the costs of the discounts and freebies awarded to them through a customer loyalty program system. "When a customer signs up for a loyalty program, a business is given full access to information like name, contact information, shopping preferences, purchase and visit history, and more," said Josh McCarter, CEO of .