For most organizations, the stated goals of their loyalty programs are to drive customer engagement, increase purchase frequency and spend, and forge emotional bonds between the customers and the brand. Accomplishing these goals leads to improved customer retention and results in higher customer lifetime value. But, how do brands create the conditions to best accomplish these crucial objectives?
Strong customer relationships are critical to the success of your company, helping to build brand advocates that drive more revenue and, if needed, help weather a crisis. There’s no single-source solution for building relationships that last – and as customers’ expectations for personalized solutions increase, organizations will need to become increasingly creative and resourceful. Beyond implementing technologies like CRM and considering the customer experience for your sales or support process, here are some tips to take your customer relationships to the next level.
When loyalty program managers open their emails at 8 a.m., some may watch their inbox load through cautiously squinting eyes, hoping they don’t see the dreaded “high importance” exclamation point from someone on the social media team. According to Tracx, a social media monitoring service, there are more than 2.8 billion social media users worldwide – and that means, there are 2.8 billion people with their own personal broadcast channel in both good times and bad.
When it comes to evaluating the performance of your loyalty program, there’s a goldmine of data at your fingertips. A variety of metrics can tell you what’s working and what’s not and even send up red flags when your rewards program may be on the verge of trouble. Here are four warning signs you should be on the lookout for when evaluating your program’s data.
Customer loyalty has a direct impact on a company’s bottom line. You’re probably investing lots of time, money and other resources to create positive experiences and loyal customers. But are your efforts working? Do your customers choose you over the competition? Below are five ways to gauge customer loyalty:
Chuck Christianson, Senior Vice President of Sales, Account Management & Client Solutions at Connexions Loyalty, participated in a podcast designed to provide information and insights on the changing landscape of customer engagement and how this affects the future of your loyalty program. As experts in loyalty for more than 30 years, Connexions Loyalty knows how to help organizations motivate, reward and retain their customers, employees and partners.