Are you still waiting on investing in a loyalty program? The statistics say it’s time to go for it. The Nielsen Global Retail Loyalty Sentiment Report gives businesses across the world numerous reasons to recognize the value of having a loyalty program to increase your company’s success. If you don’t have a loyalty program now, you’ll wish you did by the end of the year. A good loyalty program will drive your customers to frequently visit your establishment or website and spend more with you during each of their visits.Beyond just revenue generated from a core program, with the information your program allows you to collect, you will be able to deliver relevant, targeted promotions to your most loyalty program customers, resulting in an additional sources of revenue. Looking at the Nielsen Global Retail Loyalty Sentiment Report (NGRLSR) we see that 72% of customers stated that they would rather buy from a retailer with a loyalty program over one who doesn’t offer one. 74% of loyalty program participants say they’re more likely to be repeat customers of companies that offer loyalty programs — Loyalty programs give businesses greater levels of customer retention. Customers are also more likely to spend more […]
Tag: loyalty software
The Stats Don’t Lie: Invest in a Loyalty Program
Why should you invest in a loyalty program? The Nielsen Global Retail Loyalty Sentiment Report gives dozens of reasons why businesses across the world value have well-functioning loyalty programs. If you don’t have one now, you’re missing out on a huge opportunity. An effective loyalty program will motivate customers to visit frequently and spend more with you during each visit. In addition to revenue generated from a core program, with the data collected, you will be able to deliver relevant, targeted promotions to your loyalty program customers, resulting in an additional source of revenue. According to the Nielsen Global Retail Loyalty Sentiment Report (NGRLSR) 72% of customers agree that, if all other factors are equal, they’ll buy from a retailer with a loyalty program over one who doesn’t offer a loyalty program. 74% of loyalty program participants said they’re more likely to be repeat customers of businesses that offer loyalty programs — Loyalty programs give businesses greater levels of customer retention. Customers are also more likely to spend more and visit more frequently. Globally, the top two types of loyalty rewards valued by consumers are product discounts and rebates/cash back rewards. In the United States, rebates were more popular than […]
How Incentive Promotions Drive ROI in a Loyalty Program
Does your customer acquisition marketing campaign need a little boost? Something to liven it up and add some pizzazz and excitement to your current recruitment promotion. Or perhaps you need to notify your loyal advocates of a new product and refresh the idea of current programs into a campaign that’s been ongoing for a long period. If any of these apply to you, then you will benefit from a short-term incentive promotion marketing program and drive higher ROI. You may be asking how a short-term loyalty program works. In the Market Research world, you perhaps have a good base of research participants but have just started to notice and drop off in participation. You discover that the rewards have become stale and redundant and panelists are in need of a nudge to engage or update profiles. The offering has not changed in months, and you are on a decline – you are losing your base! This would be a good time when an aggressive attempt to grow the respondent base is needed but how can you acquire new customers or engage past ones? Better yet, how can you keep the ones you already have happy and loyal? This is a […]
