A well-designed loyalty program for your business is no longer an option but a necessity to attract customers and retain them in the long run. However, with thousands of programs available in the market today, it is crucial to offer loyalty membership benefit programs that can drive member value and boost engagement.

Retaining key employees is crucial for the success of any organization. Having a team of a dedicated and committed team of employees not only helps in achieving business goals but also contributes to a positive work culture. Effective Employee Retention Strategies can help retain your top-performing team members for better productivity.

As International Women’s Day is around the corner, people across the globe are coming together to celebrate women’s rights, equality as well as their achievements. This is an ideal opportunity for your business to launch unique seasonal campaigns and empower your female customers like never before.

Yet again, it’s a reigning glory for Novus Loyalty for its unwavering commitment to innovation in loyalty management in the finance sector. FiNext conference 2024 was all about recognizing the trailblazers in the fintech domain, and Novus Loyalty stood out in the category of Excellence in finance. FiNext Dubai was held on the 28th and 29th of February to host the leaders from the global financial sector, allowing tech start-ups, SMEs, incumbent tech providers, investors, institutions, and other stakeholders to gather and connect.

Having a dedicated loyalty program is not just a choice but an essential aspect for a business to succeed as it helps to build stronger relationships with customers. Offering relevant and valuable rewards through your customer loyalty program motivates customers to continue purchasing.

Talking about retail businesses, there has been a tremendous shift from traditional POS systems into new ones with personalized in-store promotional experiences aligned with the evolving demands of today’s customers. Research in 2020 found that 59% of retailers prefer POS systems with omnichannel capabilities and another 52% wish to upgrade their POS systems.

Customer satisfaction isn’t limited to the products or services any longer. Modern customers want more than just quality. They want rewarding opportunities to repeat sales with a brand. Let’s say there are two brands—X and Y. The brand X has been in business for a long time and has built a loyal customer base owing to its service. Brand Y, on the other hand, is relatively new and is currently leading in sales and revenue in the same category. Along with finding the right product-market fit and cracking competitive pricing, what they have been doing differently to gain customer loyalty?

Nearly 70% of customers agree that a loyalty program is not enough for retailers to maintain customer loyalty than ever before. That is why retailers must understand that customers today have little or no patience and instantly want everything. Instant gratification has become essential in our fast-paced society, especially for millennials and Gen Zs who have grown up with constantly changing technologies.

A customer registers a complaint about a service or product on your website and gets an automated response saying, “Thanks for registering your complaint, our team will look into it shortly.” Nothing looked wrong in this response until a customer who required personalized assistance to build loyalty got into the loop of automated messages with no sensitivity to their concern.

Customer loyalty programs are no longer an option but a necessity for business success irrespective of the business shape and size. Basic and traditional loyalty programs don’t work as more and more customers expect personalized experiences for individual buying trends and preferences. As we enter the new era of loyalty programs marked by hyper-personalization, business owners must focus on customers’ needs individually.

FiNext Conference 2024 is just around the corner, and all eyes are on the nominations. It is one of the most anticipated FinTech conferences to feature leaders and experts from across the world. With Novus Loyalty getting a nomination for Excellence in Finance for innovation, Mr. Deepak Tomar, CEO of Novus Loyalty, has shared his take on the importance of innovation in loyalty management in this space. 

At the start of the new year 2024, Visa came out with the release of a Web3 loyalty solution that has been designed exclusively to meet the future needs of customer engagement and loyalty. This comes with a wide range of immersive products that brands can offer their customers such as gamified giveaways, augmented reality treasure hunts, digital payments, & new amazing ways to earn and spend loyalty points.

Many years back, reward currency used to be in physical form such as dinner sets by gas stations, free toasters by banks for the new account sign-up, etc. This means the giveaways were in the form of compensation to the customer for long-term loyalty and repeat business.

We all know how important customer loyalty is in the world of competitive retail markets. Many companies struggle to build and maintain a strong customer base that can help their businesses grow. Having a customer base that keeps choosing your brand over and over again rather than switching to the competitors is the Holy Grail. This will not only help in contributing to the overall revenue but also help in spreading the word about your brand offerings and increasing your customer base.

US retail sales have seen a hike of 3.1% this holiday season, with a whopping rise in online sales. With a flush of holiday offers, deals, and discounts, businesses are likely to see a massive influx of new customers. The only fear that looms over their heads is what will happen if these new customers don’t return to repeat business.

We know there’s nothing quite like Christmas & the most wonderful time of the year is here with holiday cheer spreading around the corner! Lights are twinkling during holidays & businesses are getting prepared for one of the busiest & most joyful times of the year. The record says £27.6 billion is estimated to be spent on Christmas gifts this year in the UK, which means businesses are gearing up for the holidays.

No business can be truly successful if its customers are not happy and satisfied with its offerings & services. To ensure that a business is delivering what the customers are looking for, understanding the customer’s voice is essential for long-term success. The voice of the customer (VoC) can be a game-changing opportunity for companies who want to focus more on customer experience.

A loyalty program is becoming an essential part of every business to win customers’ hearts & retain them for a long time. Over the years, loyalty programs have evolved tremendously, and integrating sustainability and social responsibility is becoming important to consumers.

Customers’ happiness and satisfaction play a huge role in retaining them for a long time and ensuring success in any business, irrespective of the industry they belong to. However, with tough competition in the market, making use of loyalty program need special strategies to target the right set of customers.

Living in the competitive business era, businesses need to know the importance of customer loyalty in building stronger bonds between brands and their customers. Winning customers’ hearts is not child’s play with the ever-increasing choices they have in their hands. Retail business owners today need a reliable Customer Loyalty Software Solution to build a positive emotional connection with customers driving better business growth and nurturing brand advocates.

Today’s generation of customers has less brand loyalty than the previous generation and it is estimated that 78 percent of customers are not loyal to any particular brand. Therefore, it becomes more important for banks and financial institutions to make an effort to deliver the best rewards and deals to consumers and win repeat business.

By boosting frequency, increasing basket size, and encouraging repeat purchases, loyalty programs assist revenue growth. There is plenty of data to suggest that loyalty program offers management platforms are important drivers of revenue growth for the companies that manage them. Yet, merely having a rewards system in place does not result in higher profits for the company. The mechanisms that can be used and the behaviors they encourage must be thoroughly understood by those who design and run loyalty programs. Revenue needs to be broken down in order to comprehend these levers that they can pull better.

We live in a highly competitive business era where brands are struggling to win customers’ hearts and make them choose you again and again. Loyalty platforms act as a helping hand to acquire new customers as well as retain existing ones. With the increase in the adoption of loyalty solutions, loyalty marketing is also gaining huge attention.

We know Christmas is near and everyone is excited about the holidays. Yes, the most wonderful time of the year is almost here! Snow covered the ground, pine trees covered in lights, stockings hung by the chimney, and all the glitters. There’s a lot to be excited about in holidays and that goes double for eCommerce brands.

As we witness increasing demand for member benefits programs, more and more brands are making use of loyalty programs that provide third-party offers to their members such as discount movie tickets, gift cards, accommodation, experiences, and lots more. However, brands struggle a lot to leverage third-party aggregators and best serve their business goals. With the help of proper research and planning, businesses can benefit from these platforms & move toward a profitable approach.

We cannot deny the importance of customer loyalty for businesses that are struggling to make a place in the competitive era. For this, businesses put efforts to make customers aware of rewards by using a wide range of tempting rewards. However, they often forget about the redemption experience that they are offering to them, which is often considered more important than the actual rewards, eventually leading to the scenario of post-redemption churn.

Winning customers’ hearts is becoming difficult every year for businesses due to stiff competition in the market. Rewards and incentives act as an effective way to incentivize customers in their journey and make them choose your brand over competitors. From delivering extraordinary customer experiences to acquiring new customers to brands rewarding customers to gain the attention of existing customers, we all are familiar with the world of rewards and their significance.

Many eCommerce brands are struggling to attract new customers and retain existing ones in long run due to the highly competitive business world. The marketing team of eCommerce businesses is finding themselves in a very difficult situation as they witnessed an increase in demand for new customers from paid acquisition channels in the eCommerce sector.

With the stiff competition in the eCommerce world, getting new customers is always a struggle for many business owners. As we have witnessed a huge rise in acquisition costs, businesses are looking for a smart and scalable way to increase their customer base and boost sales every month.

With stiff competition in the business market, customers now have several options when it comes to the business they want to associate with. Providing a seamless and wholesome loyalty experience can be a great way to build connections with customers and make them come back again and again. Whether you run a small business or a well-established brand, your focus must be to make customers satisfied.

As we move towards digital transformation, businesses are evolving to meet ever-changing customer needs with robust digital solutions aligned with the latest technologies and innovations. With increasing competition in the business world, loyalty programs are becoming essential to draw the attention of customers with relevant rewards & retain them for a long time.

Happy customers are what every business look for and loyalty programs play a significant role in retaining your loyal customers for a long time. Many businesses are making use of dedicated loyalty programs that can help increase average basket size and repeat sales for brands. However, single-brand loyalty programs have few limitations making it not suitable for many cases like when the customer base is low.

Happy customers are the most essential part of the success of every business. To achieve this, you need to stay connected with them with the help of relevant promotions and important updates about their purchases. Reaching out regularly is not only important to boost brand loyalty and build long-term customers but also to address any challenges they face through a variety of different channels.

We know that almost every consumer loyalty program is designed based on currency, which means they inherently house a financial liability and have a material impact on the brand’s balance sheet. When the loyalty program issues the program’s currency to program members (i.e. points, miles, credits, cash rewards, stars, etc.), the brand incurs liability for the future program reward.

The customer journey has emerged as the most effective marketing tactic due to the increased rivalry for market share. Most buyers consider their investment’s purpose, the merchant they want to do business with, and the manner of communication used by that company before they even make a purchase.

The peak buying season is almost here but this year things might be quite different. Considering the current situations like how inflation, supply chain woes, and increasing acquisition costs are affecting the shoppers’ behavior, brands must keep the focus on these things as they prepare for Black Friday and Cyber Monday (BFCM). This time of the year undoubtedly attracts one-time shoppers incentivized by huge offers and rewards.

The peak buying season is almost here but this year things might be quite different. Considering the current situations like how inflation, supply chain woes, and increasing acquisition costs are affecting the shoppers’ behavior, brands must keep the focus on these things as they prepare for Black Friday and Cyber Monday (BFCM). This time of the year undoubtedly attracts one-time shoppers incentivized by huge offers and rewards.

Halloween is around the corner and pumpkin season has been in full swing. With the holidays approaching, people are quite excited to shop and plan fun Halloween activities with their families and loved ones. This is not just a good time for families but also the retailers to make an impact through the right customer loyalty marketing.

The customer experience is improved through SSO Single Sign On. Customers may access all of your platforms using a single authentication process with it. You can sign up using your email address, mobile number, or social media account. By providing each of your customers with a unique identification in the form of a token or cookie, the login status of all of your customers is automatically coordinated. SSO is simple to establish, and secure and helps your success with software that is properly designed for customer loyalty programs. In order to boost the number of new consumers, social login encourages registration. You tie your clients at the same time by providing simple registration and deregistration procedures.

Living in the new era of digital innovation, technologies are transforming the way businesses work with enhanced customer experiences. AI and machine learning are becoming the latest trends that help brands encourage customer loyalty. Every business is on a mission to achieve a higher level of customer satisfaction, which is helpful to attain loyalty.

With increasing competition in the retail market, business owners are struggling to attract and retain their customers cost-effectively. Driven by new and smart digital technologies, customers today expect an enhanced shopping experience with hyper-personalized interactions. To make a difference & stand out from competing brands, marketers must think & act differently.

We know that brick-and-mortar retailers have built customer relationships locally based on one-to-one interactions. Though some have become quite successful, relationships built only on in-person interactions are not scalable in the long run when you need to cater to several customers at a time. Additionally, unexpected situations such as the global pandemic or the shift of online consumer demand from offline channels can bring a negative impact.

Winning customers ‘hearts and making them satisfied is one of the most important aspects of any business, which eventually helps to keep customers engaged with your brand for a long time. For this reason, many organizations are making use of Premium Loyalty Programs to reward customers with special benefits & offers for being loyal, thereby increasing their product sales and retention rate of existing customers.

We all know the growing importance of loyalty programs in almost every business sector and the role they play in attaining positive business goals. With the rise of loyalty programs, the case of fraud in loyalty programs has also increased tremendously. Research conducted in recent years says loyalty program fraud has increased by up to 89%, involving a huge amount of monetary loss in businesses.

Customer satisfaction is crucial for the success of every business. With increasing competition in the market, it is becoming difficult to keep customers engaged with your business for a long time. The more positively a business engaged with its customers, the more referral companies get. This happens in the case of the healthcare industry as well. A well-strategized and personalized level of engagement is likely to garner patient loyalty.

With rising competition in the market today, many eCommerce brands are struggling to find out customers that are loyal to their business. One of the major issues faced by the eCommerce industry is still cart abandonment, costing $18 billion every year. Most businesses are investing in strategies to attract prospects, generate leads & guide customers to purchase the product using high-quality content & ads- only to realize buyers back out at the last moment.

Building a strong connection with your customers is not essential to boost your business growth but also to retain them for a longer time. Talking about the manufacturing sector, all the goods are sold through different channels such as suppliers, retailers, distributors, and eCommerce websites. This leads to poor connection between brands & customers, resulting in a failure to understand customers better & offering personalized experiences.

Loyalty programs are gaining huge popularity for several businesses across the world and are no longer restricted to big players in the market. Small startups and local businesses are also making use of loyalty programs to increase retention and revenue. Irrespective of what industry you belong to, brands across the globe are adopting new loyalty programs and revamping their existing ones to provide better value to customers and gain maximum business outcomes.

Winning your customers ‘hearts is essential if you want your business to succeed and gain a competitive advantage in the tough market. Loyalty programs are gaining huge attention in several industry sectors to help businesses retain customers and gain maximum positive outcomes.

A well-integrated technological stack is necessary for providing effective customer support, as well as service representatives working behind the scenes to make it happen. Brands must choose the most adaptable and compatible partners and integrate them strategically in order to properly cultivate a “customer loyalty” tech stack that helps their support team shine. This will result in a system where consumers feel cared for and glad to spend more.

It is often said that luxury brands cannot run promotional campaigns as it may impact the brand image adversely. But, is it true? Sales promotions can act as a double-edged sword for luxury brands, which can have both favorable impacts as well as bad consequences, if not executed perfectly. They can increase sales but such promotions can weaken brand perception exclusively for loyal customers if not implemented wisely.

Thousands of loyalty programs are being launched every year but not all of them are successful! As for the fact, we know that retaining an old customer is worth more than acquiring a new one. However, making your loyalty program work takes a lot of research & well-planned strategy with the right expertise.

Customers today need hyper-personalized experiences when they associate with the brand! In this highly competitive space, businesses cannot survive and stay ahead of the game unless they make use of the latest technological advances and cutting-edge innovations to support their marketing and promotion efforts. As the demand for local experiences grows, location marketing is the need of the hour.

Your client retention plan will be expensive if it relies on buying loyalty through incentives, rebates, or discounts. These days, it may also imply that you’re sacrificing something priceless, namely your relevance.

Ecommerce is a turbulent sector, from issues emerging at the time of the pandemic, to delays in shipping, privacy breach and continuously rising inflation. The e-commerce marketers already have their strategies laid up. Every hurdle in the row can add some pressure on your working e-commerce business, with the constant flipping customer demand paradigm.

We know that the loyalty landscape across all industry verticals has transformed over the years and is now flooded with meaningless points programs. Many leading businesses have implemented the most basic as well as advanced loyalty programs built taking reference to the copies of successful programs.

Every business love customers who purchase frequently from them but what about the ones that help to promote and represent their brand to others, they adore them! Customers who just love your brand will go out of their way to provide free marketing for the brand. Identifying these brand lovers or ambassadors can be tough without a well-planned strategy. Let’s find out how a reliable Loyalty Program Platform can help your brand discover, engage and nurture brand ambassadors.

In a world where competition is inevitable, standing out becomes a necessity. For most of the brands around, the main aim would be to find better ways to foster customer engagement and maximize a brand’s potential to drive smarter revenues. Executing marketing campaigns is one way to promote the business on multiple platforms. But people tend to believe more in someone who can provide genuine feedback on the services or products they have purchased from a similar brand.

The eCommerce world is highly competitive as customers have infinite choices when it comes to the brands they wish to associate with. If you are new in the market, making a place in this business era can be quite tough without the right set of marketing campaigns.

Living in the data-driven world, businesses need to collect data to understand their customers’ needs precisely for more relevant offerings, which eventually will lead to a higher customer retention rate. The first step is to find out the best ways to collect customer data and use them effectively.

Every business model relies on channel partners and secondary sales channels. From big distributors, sub-distributors, and wholesalers to retailers and then end consumers, the distribution networks operated and owned by large FMCG companies depend highly on their channel partners.

Digital gift cards are offered by many businesses and that might include your as well! This can be a way to reward employees, incentivize partners and pave a way for rewarding the customers as well. Gone is the classic era when physical gift cards carried at most importance, it’s a digitally evolved century where paper-intensive cards aren’t of much use or maybe not taken in consideration to a greater extent.

The online shopping experience is a traditional aspect, customers now require a step more to it. Omnichannel connectivity or staying connected with a brand through multiple mediums is one of the greatest strategies we can fix in. Customers today are willing to have a similar level of communication with a brand whether they are visiting a physical store, or maybe making some shopping through other digital mediums as well.

Living in the digital world, we rely on different online businesses to complete our day-to-day tasks. Many eCommerce brands are struggling to grab the attention of their hard-earned customers and that is where a well-planned loyalty program for your retail business is a must. Online shopping has never been this competitive!

Amongst the tons of marketing tactics to be considered, implementing loss aversion bias is an excellent option to enhance customer experience. When we’re talking about starting out a successful marketing campaign, as a business it’s important to know what your customers want. Every customer, every single day makes choices and they have certain parameters to decide where to switch next.

We all know that customer loyalty plays a very important part in the success of any business irrespective of the industry type. As compared to customer acquisition, retention of customers is quite cheaper and also helps tremendously in delivering higher ROI. Additionally, it is hard to acquire new customers every time but you can keep special focus on the ones you already have.

Maximizing CLV is quite a buzzword these days and why not, it’s the only business goal one must consider in terms of accelerating business outcomes. Business owners are regularly finding better strategies to create value for their customers. Measuring the customer lifetime value is generally associated with having a customer retention program in place, but is it the right parameter?

Loyalty programs are becoming an essential part of every business sector to win customers’ hearts and retain them for a longer time. It is not new for the airline and hotel industries! Back in the 1980s, American Airlines introduced AAdvantage, one of the first travel loyalty programs, and soon after, hotel chains followed by coming up with Holiday Inn and Marriott, the first hotel loyalty programs in 1983.

We all know customers are bound to come and go, but as a business owner, you would want them to stay as long as possible. Irrespective of which industry you belong to, customers are the backbone of any business. Without customers, your organization will lose its purpose! In the competitive world of business, attracting and retaining customers can be quite difficult but with a well-planned strategy and Customer Loyalty Software Solution, it is possible.

It’s the time when we are experiencing a sharp rise in pricing of everything from raw materials to end-consumer services and it’s the hardest thing to tell your customers. But, turning to reality, inflation affects most aspects of the economy and absolutely no business is immune to it.

Having an effective customer loyalty strategy is essential to win customers’ hearts and make them choose your brand over competitors again and again. Having the right information about the right people i.e. your customers at the right time is what you need to plan a loyalty strategy. Many marketing professionals struggle to understand users’ behavior, preferences, and expectations to turn qualified lead into loyal customers, which eventually turns into brand advocates.

Season sales make a great profit, and both brands and customers benefit from the same. For the customers, it’s a superb option to shop for smart deals and discounts, and for the brand it’s a great chance to get their products sold in one go, catering to the highest footfall. Seasonal sales, offers, etc. play an imperative role as they offer items that will be used in the upcoming season, maximizing the on-season fashion options. But how to handle the off-season, where nothing will be used in the season?

Irrespective of which industry you belong to, gaining customer loyalty with a boost in sales is what every business look for! However, with stiff competition in the market that offers similar services like yours, it can be hard to make a presence and gain a competitive advantage. That is why a well-planned strategy that understands your audience’s needs is what you need to increase repeat purchases and avoid them from switching to your competitors.

Just like the earlier recession wave which shook the entire world, we may be under another wave of recession super soon, and why do we say that? There are numerous concerning financial and economic statistics which bring in a relatively higher probability that the world is heading towards a recession. Though the intensity isn’t predictable at the moment, it may be too deep or maybe just a mild one in the way but can surely leave a scar on the customers and the businesses!

When it comes to giving a gift to your colleagues, friends, or families, many of us find it quite challenging to give something that they will like. As a consumer, there is always pressure to get the right gifts for someone you care about. Similarly, eCommerce brands struggle a lot to meet the needs of intense competition in the market as well as the inability of shoppers to experience the product in real life.

As the regular customers, we tend to buy almost everything based on genuine reviews, considering the limited pocket and grossing prices around, better to look at the opinions of the previous buyers. To keep the shoppers coming back and generate sustainable brand growth, most of the leading brands are incorporating customer retention programs or taking help of a customer loyalty software solution. But, what exactly do these program do? Let’s understand the journey from reviews to retention.

Talking about the eCommerce brands, the returns & exchanges are the common things that every business owner deals with. These happen more often during the holiday season and they can be quite pricey. As per the research by Forbes, the 2020 holiday season had the total value of returned items about $47 to $57 billion. That’s a huge amount and it shows how essential it is to have a streamlined process for returns.

Acquisition and retention are the two major challenges every brand or merchant go through during their product sales and marketing. To bring in more customers on boarded , there should be something to reward them and make them feel they’re valued enough. However, most of the brands already have their strategy line ready to launch with mostly consisting of discount campaigns, limited percentage discounts, end-of-season sale and much more.

Customer Loyalty is what businesses look for to succeed in their ventures! However, it’s not a child’s play to be everyone’s favorite with the wide range of options available in the market today. Developing a dedicated program based on your target audience’s needs and preferences is what you need to boost your sales and increase customer retention rate. In this blog, we will discuss the top easy hacks to uplift business sales and loyalty programs using Gift Cards.

Winning customers’ hearts is the motive of every business owner, irrespective of the industry they belong to or the business size. A loyalty program can play a great role to help brands who want to reward their customers the right way and build a healthy relationship with them. With customers having more brand options than ever, businesses are struggling to make a difference and deliver exceptional experiences to retain customers for a longer time.

We live in a digital world full of online shoppers that has more choices than ever. With stiff competition in the market, what can you do to make your brand rise above the competitors and keep your customers coming back to you?

Customer engagement is always the first and foremost priority for any brand. The way customers feel about a brand and its products or service offerings speaks a lot about the overall business success possibility. But, there’s no certainty as to what parameter will be best suited in determining what’s the best for the customers. No matter what industry you belong to, it’s always important to know your shoppers. Understand how they would like to receive offers, what shopping recommendations would be better to propose, and so on!

As per research conducted by Capgemini, 97 percent of reward programs mostly rely on transactional rewards, though 44 percent of shoppers still feel these rewards are somewhat irrelevant. The stat conveys an important message that not all rewards are equally effective, rewards should differ according to customer preferences, situations, and locations and mostly should be built around experiences.

The pandemic has impacted the various business sectors transforming the way people buy or connect with the brands. However, many business owners change their way of delivering services to adapt to the evolving customer needs and market demands. With the change in customers’ shopping behavior, your loyalty program software must evolve with the desired changes to make it a success for your business.

The majority of the leading brands have been actively participating in loyalty endeavors and a large chunk of them are successful in retaining the loyal customers and acquiring the new ones as well. Though most companies have been building their loyalty programs right from the scratch, some are choosing white-label loyalty programs which in long term are proved to be more beneficial.

No matter what industry we’re targeting, the end game is always about retaining customers and yes loyalty programs are proven to beat the competition by being an exclusive retention strategy. With the increasing number of customers adapting multiple payment channels, only 30 percent of consumers are using a single source for all their financial needs. Most of the customers have already spread their payments and other sorts of financial requirements across a range of multiple providers.

With everything going digital, brick-and-mortar businesses are becoming a thing of the past. The banking sector is not an expectation when it comes to digitization. One of the biggest trends that are gaining huge attention in the Fintech world is neobank, which operates entirely in the digital form without a physical presence of a bank branch. Offering a superior and branchless banking experience can act as a catalyst to accelerate customer growth & scale your business with a higher retention rate.

Customer satisfaction is what every business looks for to increase loyalty and retention rates for a longer time. Loyalty programs that are personalized to meet customers’ unique preferences are the ones that are more likely to be successful. One of the most common program types is the cashback loyalty rewards program. Customers feel valued and special as they can make money while spending them on the purchase of desired products from the brand. Cashback, as the name suggests enables customers to earn a small amount back after each purchase.

Customers have more choices than ever when it comes to the brand they wish to associate with. Winning customers’ hearts to become a brand that they love is becoming tougher with huge competition in the market today. If you are a business owner, your only motive is to boost sales and it can be done by driving customer loyalty which involves acquiring new customers as well as getting repeat purchases from existing ones.

Right when the pandemic took over the world, we could hardly see a business alive, especially food and beverages when people got constrained to home-cooked items for their own safety & wellbeing. The industry suffered a huge loss and to survive in the hard-hitting reality small restaurants are still finding the best way out. The biggest challenge for the restaurant industry is to make customers believe in their business, understand it’s safe and bring in new onboards with time.

It’s the all-new era of gifting where finding the right gifts is always tough! To ease the process it’s better to go for gift cards providing customers the freedom to buy a gift of their choice. Though gift cards have always been an interesting choice for most customers but are gift cards or prepaid cards the same concept? Let’s talk about the trending debate on gift cards vs prepaid cards and check out who wins the battle.

Social media is enhancing every day, with modern brands taking over and making an impactful mark in the social world. Today, most brands with an online presence also have a strong social media presence with extensive engagement strategies to foster customer engagement.

Winning customers ‘hearts is what every business needs to succeed. The two most important aspects that help to strengthen customer-brand relationships are customer service & customer experience. Both of these terms are often confused or used interchangeably. However, they are not the same but are very much related. The difference lies in how customers use a product and how they are being treated throughout the customer journey.

We all are aware that NFTs are powerful and are becoming a part of many forward-thinking organizations. There are early marketing adopters that are using NFT to reward & incentivize those who wish to shape the future of customer loyalty by offering lifetime prizes and exclusive collectibles. Though this technology is still in the infancy stage, there is rapid evolution. NFTs are one of the most popular use cases of blockchain technology and big brands like Coca-Cola, McDonald’s, Louis Vuitton, Nike, etc. have all coined their own NFTs. In this blog, we will check out how brands are making use of NFTs in loyalty rewards program to embrace new opportunities and reward true customer loyalty.

Loyal customers are the lifeblood of any business! The reason being it relatively costs less to engage existing customers than to acquire the new ones. A survey says that it costs 5-25 times more to get new customers onboarded than to keep the existing ones.

Every customer is different; each has individual needs and interests. Offering them the services & experiences as individuals will not just help your marketing efforts but also boost customer loyalty to your business. Though it is not possible to address customers purely one-on-one, user segmentation can help to create customer groups with similar likes & interests, which is beneficial to tailor your communications & engage repeat customers in different groups.

A loyalty program is becoming a need for organizations in every industry sector as it acts as a great way to keep brands connected with customers for a long time. We have witnessed a tremendous rise in customer loyalty solutions over the years. The recent research by MarketsandMarkets states that the global loyalty management market size will grow from USD 8.6 billion in 2021 to USD 18.2 billion by 2026, companies must be aware of these numbers. In this blog, we will take a deep dive into loyalty statistics and benchmarks to help you stay aware of all the trending loyalty metrics that will shape customer loyalty management solutions in the coming years.

If your organization has a global presence, it is essential to have a recognizable brand image. However, it is important to ensure that your business operates in a given region by following the standards and expectations of the local audience and market. This applies to the loyalty program as well! From tailored offers, personalized campaigns to the loyalty logic, every aspect of your program must be customized keeping in mind the local customers’ likes for maximum engagement & participation.

If planned and implemented right, a loyalty program can boost your business profits extensively! It’s a great source for collecting valuable customer data, boosting revenue, and analyzing the right options to set targets for personalization. But, what if your customer loyalty software limits to just the age-old traditional approaches to cater to customers? Let’s find out!

In the U.S around 90 percent of the companies have some sort of loyalty program variation already running. But brands are still sticking with the customer retention strategies which were followed earlier. Why is that? Because no matter how many more businesses come up, every brand aims to boost their revenue and focus on retaining their existing customers.

The beauty industry is growing at a rapid pace, especially post pandemic. The industry valued at $483B in 2020 and have grown to $511B in 2021. The compound annual growth rate is 4.75% worldwide and is expected to surpass $716B by 2025. Though a few new brands have been emerging as customer’s choice amidst the pandemic due to the shifting priorities of the audience.

Right after a business or product launch, every brand thinks of promoting the same. Though there can be many approaches to do that, which includes having a loyalty management software solution or simply having a smart option like free trial customer loyalty software.

Loyal customers are what every business look for to attain their goals and drive revenue. Many business owners are already making use of dedicated brand loyalty programs that aim to build and maintain long-lasting relationships with valued customers. Living in the competitive world, customers have never-ending choices when it comes to the business they want to associate with and they stay with the one that offers the best customer experiences and special deals.

Loyalty is an underrated aspect as most of the industries & businesses have not realized its importance until it became an unavoidable necessity! When it comes to loyalty programs, personalization is quite an imperative aspect and has proven to boost 6.4 times member satisfaction. Speaking with numbers, only 2 in 10 members say that they are very satisfied with the level of personalization they’re getting from their loyalty programs.

Customer retention is always the primary goal, no matter whichever business it may concern. Loyalty programs are an excellent option when a business is willing to extend its customer base. if a business can provide their customers with the required services, they are more likely to refer the brand to their friends and family, share the data or engage with the brand in various other ways!

In the digital age, brands have been basing their marketing strategy on a newly discovered & implemented AIDA model. An excellent working model which covers each step of a consumer’s buying journey. As a marketer, we can completely understand the frustration of losing upon a well-nurtured lead that was seeming close to conversion and that too because of a minor issue that may have turned down the client!

According to a statistic, it costs five times as much to attract a new customer than to keep the existing one! Every small business has two major goals in the inception phase. One is to have enough customers onboarded and another one is to stay within budget, that’s the reason why small businesses should opt for a customer loyalty program.

Businesses today need loyalty marketing to keep the customers bonded and the network expanding its reach every day. Brands around the world are realizing the importance of having brand loyalty programs integrated, especially after the 2020 pandemic disrupted the market. Having a loyalty business model is now the need of the hour and integrating a customer loyalty program is a necessity in the competitive era.

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Winning customers’ hearts is what every company looks for, irrespective of the industry type you deal with. Many business owners believe in investing in rewards programs to not just gain customer loyalty but also to retain them for a long time. However, the true potential of a loyalty program to attract customers depends only on delivering the rewards that customers want. Yes! A good loyalty rewards program can build customers’ loyalty & offer immense benefits to the organization.

“88 percent of Americans say that they would prefer to be incentivized or rewarded for sharing their product recommendations on their social media as well as to their family and friends”. Customers are always willing to share a positive word if they get great experience on their purchase or services offered. You might have not thought about having a loyalty program setup, it’s perhaps the most imperative aspect a brand should think of adding for business growth.

Customer Experience is by far the most imperative parameter to predict business success and when we’re talking about a small business that either has just started or striving hard to survive in the tough competition. Heard about key performance indicators? They are the critical indicators of progress toward an intended result. So, KPIs can provide a direct indicator of performance but is it the right choice for all small businesses too?

Loyalty has a larger game in the field of customer engagement. Being the only aspect in not just engaging customers but retaining them as well. Keeping a customer is 5 times less costly than acquiring new ones, while half of a brand’s revenue is created by only about 8 percent of their most loyal customers.

There’s no doubt on the fact that customers simply love rewards. Delivering the best suited customer experience is the leading aspect of running any business and the most impactful way to retain customers in the long run. Rewarding customers on their special occasions is also a great way to keep customers glued to a brand and Birthday Rewards are one the best way to get customers feel valued and special.

Increasing interest in online shopping and extensive convenience has brought in wide popularity to a trend as lazy and convenience friendly as today’s generation- “Buy Now Pay Later”. In the growing number of retailers customers now look for new ways to shop. BNPL plans are basically aimed at the shoppers who impulse buy and limit the purchases to small items. The major user base of BNPL plans is millennials and Gen Z who either don’t have a credit card or don’t choose to use them. Buy now pay later is growing in popularity for all the good reasons as it provides shoppers an option to purchase their needs even if they do not have the funds at the moment but will certainly get it over the next few months.

Covid 19 is not too old but is surely a deadly wave which took so much including our lives and livelihoods. In the challenging time when everything was dipping down, the only thing which has taken a flight are the digital experiences. Every brand today are indulging in digital services and contributing in working on customer retention program. Especially in times of crisis, having more customers onboard is the best thing possible to not just run business presently but, keep it alive in the longer run.

Integrating the right sort of Loyalty Program isn’t a cakewalk, it requires a smart approach, support, and the right business sense to take it forward. It’s important to have a custom loyalty program to not just retain customers but have the power to acquire new ones too!

Loyalty is an imperative aspect to consider no matter what’s your industry type. While loyalty is now not an option, it’s a necessity to grow the business and have a larger customer base as well. A survey states that loyalty programs are known for enhancing a business’s brand experience for over 80% of customers.

Corporate productivity relies on a happy team. One of the best ways to motivate and excite your employees is by building user-friendly employee rewards & recognition program. These programs are designed to drive productivity, build loyalty, and improve customer service.

Finding the right success strategy for your business is a hard shell to crack and if you’re a retail marketer, there are fair chances of you being thinking about the best-suited loyalty programs. Yes, Loyalty Program has variants and a business owner must select the one which seems the most suitable as per their customer retention strategy.