Customer Loyalty Giveaway Contest App

 
HELIOPOLIS, Egypt - Dec. 17, 2019 - PRLog -- Benefits of Loyalty Programs  According to the Center for Retail Management at Northwestern University Only 12% - 15% of customers are loyal to a single retailer. This small number of loyal customers generate between 55% - 70% of company sales. Some food retailers find that 65%-95% of their sales go to members of loyalty programs. 53% of food retailers offer loyalty programs, 75% of the loyalty programs members using their loyalty cards at least weekly and 885 at least used them once a month. Dates needed It is estimated by Colloquy (2015) that there are over three billion loyalty program memberships in the US with 26% increase in comparison with 2013. By Average US households participate  in 29  programs.  The  average  household  active participation  is  about 12  programs.  (The  Loyalty Marketer's Association) The retail marketing literature demonstrates several benefits for loyalty programs for both businesses and consumers.  For business loyalty programs are profitable because:  •  The costs of serving loyal customers are less. •  Loyal customers are low price sensitive. Loyal customers spend more with the company. •  Loyal customers pass on positive recommendations about their favorite brands to their friends and relatives. (Dowling and Uncles, 1997)  Loyalty programs provide the company with a wealth of consumer information. While companies can evaluate different purchases, the use of a loyalty program gives additional information about the type of products that may  be  purchased  together,  and  whether  certain  coupons  are  more  effective  than  others. (https://hounden.com)  Retaining customers is less expensive than acquiring new ones, and customer experience management is the most cost-effective way to drive customer satisfaction, customer retention and customer loyalty.  Loyal customers are more likely to purchase more, with a high-margin of supplemental products and services.  Loyal customers reduce costs associated with consumer education and marketing,   Regarding the previous mentioned benefits of loyalty programs which affect customer loyalty through customer experience management could be considered as a sustainable competitive advantage.  (https://hounden.com).

Contact
Hounden
***@hounden.com
End
Email:***@hounden.com Email Verified
Tags:Loyalty
Industry:Marketing
Location:heliopolis - Cairo - Egypt
Subject:Services
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse



Like PRLog?
9K2K1K
Click to Share