Finding the formula for successful customer retention strategies

2019-03-29T13:39:48+00:00 17th April 2019|Loyalty|

  Richard Piper, our Business Development Director discusses two fundamental but contrasting strategies: the retention of loyal customers versus the acquisition of new ones.       We all know that repeat purchasers spend more and generate larger transactions, yet retailers spend far less time on retaining existing customers. If retailers are to find buoyancy and generate constant revenue in the modern retail market, retention should be placed above acquisition. But the hyper-competitive retail landscape throws up many challenges to consumer faithfulness. Among [...]

Define your loyalty model before you measure it

2019-02-06T13:26:28+00:00 6th February 2019|Loyalty|

Consumer loyalty is worth its weight in gold in the retail industry. However, as explored in our latest Unfaithful Consumer 2 report, consumer loyalty is becoming more complex as discerning consumer priorities evolve. Today’s digitally-connected consumers are primed to comparison shop, making it challenging to drive repeat purchase and on-going customer engagement. As Webloyalty research shows, most retail sectors have loyalty rates of less than 50%. In addition, 42.1% of food and grocery customers and 39.1% of those shopping for [...]

Subscription Services: The Key to Customer Loyalty?

2018-12-03T10:06:45+00:00 29th November 2018|Loyalty|

  Richard Piper, our Business Development Director discusses the thriving sector of subscription based services and how offering a paid for loyalty programme can drive customer retention.     The question all retailers ask themselves, what is the key to customer loyalty? Cultivating long term relationships with your customers is vital to the success of most businesses. However consumer loyalty to brands is tumbling across the sector with over 60% of consumers shopping around at more retailers than they were five years ago, [...]