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Loyalty programs have long been a powerful tactic for distributors to strengthen relationships with customers and suppliers – particularly when they are competing with B2B marketplaces on price.     Among the benefits of a strong loyalty offering is an elevated customer experience – ideally, tailored to their unique requirements. Pair it with competitive pricing, and the proposition becomes more compelling.     That’s what this new article explores, with tiered approaches to build customer base, shift customer behavior, and improve personalization. It’s aimed at consumer-facing businesses, but the principles here translate to the distribution space too. Take a look.     #Pricing #CustomerLoyalty #Growth 

"...retailers invest a lot in standing apart, with stores that look different, websites that navigate differently, and experiences that feel different. Why not do the same for their most important CRM tool, their loyalty initiative, then?" An excellent question posed by Jenn McMillen. With consumers using only half of the rewards memberships they are enrolled in, and over 80% of executives acknowledging the similarity of their programs, there's a call for retailers to innovate and make loyalty initiatives more exciting. We've already seen some moves from brands like Sweetgreen and Petco, but there needs to be more of a push for innovation and change in this space. As retailers invest in distinct store experiences, websites, and services, the loyalty program should also stand out as a crucial CRM tool. #RetailMarketing #LoyaltyPrograms #CustomerRewards

How do you keep up with the consumer who constantly flits between brands?  Combining loyalty programs with pricing strategies is a powerful solution.     It’s a big shift for many organisations to make but….bringing together the marketing-led view of customer centricity with the merchant-led view of product centricity is a gamechanger.       Get this right and you can capture the full value from loyalty and pricing integration.      This is a great read on how consumer-facing businesses can unlock holistic value.       #Pricing #CustomerLoyalty #Growth #Sales 

Eight levers to turn customers into fans-Loyalty programs are an often overlooked area for performance improvement that can help offset the ongoing willingness among consumers to try new brands and retailers. Our research has found that top-performing loyalty programs can boost revenue from customers who redeem points by 15 to 25 percent annually, by increasing either their purchase frequency or basket size or both. However, we have observed that around two-thirds of established loyalty programs fail to deliver value, with many actually eroding value. Yet enlarging loyalty-program participation can be a critical key to increasing company-wide sales, while creating the data foundation for other valuable initiatives such as data-driven marketing, and also improving the customer experience. Getting more out of a loyalty program, or indeed turning one around, doesn’t have to involve a complete redesign however. Eight drivers of loyalty-program value Understanding the following eight levers that significantly impact the performance of loyalty programs—regardless of geography, industry, or customer segment—can enable companies to extract the most from their investments in relationship and membership programs. https://lnkd.in/g75SaJNF

Customers are expecting more – and ‘brand promiscuity’ is at an all-time high.    So, how can organisations drive growth and create value at a time when loyalty programs have lost their punch?    The answer is a holistic approach – one which integrates loyalty programs with pricing strategies, delivering greater customer value and driving profit margins.    This is a great look at the steps consumer facing organisations can take to activate this mission. It’s well worth a read.    ⬇️     #Pricing #CustomerLoyalty #Growth #Sales        

Loyalty programs have been the craze in the marketing world for a while now. 🌐 In fact, with around 90% of retail companies having some form of a loyalty scheme, they’ve become the industry standard. But are they actually as beneficial as they are popular? This article explains it all. 📃 #Comarch #loyalty

Loyalty program is a common marketing tactic having the potential to significantly impact your bottom line. Covid-19 considerably changed customer behavior from embracing online shopping to re-assessing priorities. Loyalty programs, when combined with the correct strategy, make a positive and significant impact on their capability to maintain & gain a loyal client base.  #LoyaltyPrograms #CustomerRewards #CustomerRetention #BrandLoyalty #PositiveAspects #NegativeAspects #IncentivePrograms #CustomerEngagement #BenefitsOfLoyalty #PitfallsOfLoyalty #MarketingStrategies https://lnkd.in/d2e8Pmna

Loyalty programs have been the craze in the marketing world for a while now. 🌐 In fact, with around 90% of retail companies having some form of a loyalty scheme, they’ve become the industry standard. But are they actually as beneficial as they are popular? This article explains it all. 📃 #Comarch #loyalty

Loyalty programs have been the craze in the marketing world for a while now. 🌐 In fact, with around 90% of retail companies having some form of a loyalty scheme, they’ve become the industry standard. But are they actually as beneficial as they are popular? This article explains it all. 📃 #Comarch #loyalty

While many companies try to add value to customers through loyalty, pricing and promotions, very few look at all these levers in tandem to create an integrated and holistic experience #CustomerExperience #IntegratedMarketing #Marketing #loyalty