Few metrics better illustrate a company’s well-being than Customer Lifetime Value (CLV). In previous eras, retailers could employ tried and true loyalty practices that would reliably juice CLV. Today, they are challenged with savvy customers who demand more for their attention and dollar. Leonard Jennings, SVP of Loyalty Marketing for Synchrony, says that once-dependable loyalty plays […]
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In a striking development for internet privacy, the nation’s four largest telecom companies announced Tuesday that they will stop providing customer location information to companies that aggregate data on their customers. Aggregators typically work with third-party companies on things like verifying a user’s identity or directing roadside assistance providers. But Verizon, AT&T, Sprint and T-Mobile have promised to start safeguarding […]
Retailers seeking to enhance personalization of their customers’ experience should take note of the potential impact of Apple’s recently unveiled pro-privacy enhancements for its Safari web browser. The need for high motivation and transparency of opt-in for customer loyalty programs has never been more critical for retailers. At its annual developer event, Apple announced an […]
Hardly a day goes by when you don’t visit a store, restaurant or supermarket and have an employee ask, “Do you belong to our loyalty program?” Loyalty (or rewards) programs have become ubiquitous — a fact of life in American business. Accordingly, it’s helpful to ask what the role of a loyalty program should […]
Once again, Amazon is blazing new trails in retailing, this time with their paid Prime Membership Loyalty Program. Amazon reports they now have stunning 100 million paying members for Amazon Prime. CEO Jeff Bezos said that last year, more members paid the membership fee to join Prime than any previous year. Remarkably, Amazon Prime members […]
Did you know 70% of consumers say they are more likely to recommend a brand that has a good loyalty program? Or that 92% believe recommendations from friends or family over all other forms of advertising? Clearly, the state of customer loyalty programs is changing rapidly in 2018, and these programs have become an enormous […]