Customer face-time is the new currency for merchants. Case in point, Amazon is renowned for their laser-focus on knowing their customers. The result is Amazon boasts best online retailer conversion rate of 74%. In contrast, the top 10% of online retailers convert at 11.45%. So why the vast difference, and what lessons can you apply […]
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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 […]
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 […]
Scott Goble, most recently a Principle Software Engineer for Microsoft in their Windows and Devices Group, will be joining the Encore Incentives app development team in June. Scott’s primary area of responsibility will be to oversee the company’s forthcoming First Data / Clover Station app validation and market deployment. Scott’s technical acumen and extensive experience […]
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 […]