By definition, the program is designed to keep people loyal to you. Starting a loyalty program is an easy way to give you an edge over your competitors. Customers are attracted to brands offering loyalty programs - Image Source: Voucherify Loyalty programs are growing in popularity and showing...
You can’t overstate the importance of retention. Not only does it lead to higher revenues — loyal customers spend67% more on average than new ones— it’s also five times cheaper to retain your existing customers than to acquire new ones. So, if your business has a highchurn rate— th...
If you’re loyal, you support others through thick and thin. 29. Community The importance of community can’t be overstated. Feeling like you belong to a group is beneficial for mental well-being. If you don’t feel a sense of community, you can create one of your own. You can do...
Whether you’re giving a section of customers a sneak peek into an upcoming product launch, or simply rewarding them for being loyal customers, they all love a sweet deal. Volkswagen offers email subscribers free movie tickets several times a year. Starbucks gives their gold members free drinks...
Apple's customer base is fiercely loyal, sometimes bordering on evangelical. The company enjoys high customer retention, another result of its brand equity. By retaining existing customers, Apple increases profit margins by lowering the amount it has to spend onmarketingto achieve the same sales vol...
The huge market for sports equipment and team-related merchandise is to a large extent sustained by the media’s 24-hour-a-day sports coverage, and the economic infrastructure of the mass media depends to a considerable extent on the capacity of sports to create large, loyal cohorts of ...
The main downside of social loyalty in the first case, is the knowledge that trends come and go — and you’ll always need to stay on top of them to cater to social-loyal customers. On the flip side, if you try the exclusivity route, you’ll inevitably exclude some customers who may...
and motives. Transparency in viral marketing is important as consumers are more critical of traditional marketing campaigns and are holding companies accountable for their actions more often than before. Approximately 94% of consumers are likely to be loyal to companies that are transparent in ...
In an article that announced TechCrunch's 2018 site redesign, the publication noted why they've been loyal to the WordPress CMS. “[WordPress] handles content authoring, delivering, and caching very well. There’s a reason it’s the CMS powering around a quarter of the internet, and let’...
As your loyal customer base expands, you’ll naturally build a broad network of brand advocates who can help spread the word about your brand, bringing in a fresh wave of customers. And if you’re aiming for even greater success, consider diving into brand advocacy. Your business’s biggest...