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How Profitable Is Your Loyalty Program: Measuring and Increasing ROI
Loyalty programs are an important part of the marketing strategy for any company looking to retain customers and boost customer and channel loyalty. When you consider it’s more than five times more expensive to acquire a new customer than it is to keep an existing one, the benefits of retention are clear. Research by Bain indicates that in the world of e-commerce one-time customers actually cost businesses money. For example, customers of online apparel retailers are not profitable for the store until they have shopped at the site at least four times –meaning the business needs to retain them for a minimum of 12 months. »Read the full White Paper
Why Your Marketing Strategy Needs a Loyalty Program
A good loyalty program can drive employee engagement and boost customer and channel loyalty. In a time where markets are saturated with competitors and the economic climate is less than brilliant, a loyalty program can help you stand out from the crowd and gain a competitive edge.
Loyalty programs should be created with the audience in mind, giving them a good user experience and rewards that match their expectations. A loyalty program is an essential pillar of your marketing strategy – offering you invaluable insight into behaviors and data that can help refine your business processes while rewarding staff, customers and partners. »Read the full White Paper.