Part 2: Customer Lifetime Value & Segmentation CONNECTING THE DOTS FOR MULTICHANNEL RETAILERS Now, if you’re an eCommerce-only vendor, you might be saying to yourself “That’s not true. I can do all of this easily through my CRM, Google Analytics, etc.” And you’re right. It’s important to know that for eCommerce-only merchants, this type
CUSTOMER LIFETIME VALUE & SEGMENTATION Customer lifetime value (LTV) is one of the most important key performance indicators for almost all retailers. How it’s defined is not as set in stone as you might think. With the addition of omnichannel loyalty software, businesses with offline points of sale now have the ability to understand
Different Types of Loyalty Programs That Can Increase Your Revenue All marketers know that loyalty programs and loyal customers boost your brand revenue in a variety of ways. Here are just a few: Loyal customers shop more and generate revenue for your brand. A bLoyal loyalty program member spends around $42.33 more per year
Guide: How to Create an Effective Winery Loyalty Program According to a recent study, 80% of companies that measure their loyalty program ROI earn 4.9X more revenue than they spend. Considering the current looming recession and uncertain future of the business world, a winery loyalty program can prove the ultimate solution, whether an eCommerce
Why is a Subscription Model Great For Pet Stores? Adding subscriptions to a pet store´s eCommerce can be a great idea for a number of reasons. First and foremost, offering subscriptions can help to increase customer loyalty and retention. By allowing customers to sign up for regular deliveries of their favorite pet products,
5 Benefits of Customer Loyalty Programs Almost every big business giant has implemented some sort of customer loyalty program. Whether it is Royal Caribbean Cruise Line, Disney, Walmart, McDonald's, Costco, Amazon Nike, or Adidas, customer loyalty programs are available in a wide variety. The reason is obvious, these businesses are aware of the fact
What Is the Customer Lifecycle? There are over 230 million online shoppers in the United States, which amounts to 70% of Americans shopping online. Due to this online buying trend, businesses are focusing entirely on improving their customers' digital experiences. This includes analyzing the various phases of the customer lifecycle which refers to all
What Are the 6 Stages of Customer Loyalty, and How to Use Them to Your Advantage? Just like in Rome, you can’t build customer loyalty in a day. Customer loyalty creates social engagement between your customers and your company's products or service. It goes beyond a one-time purchase to fostering a long-term relationship between
Creating a valuable membership program beyond the exhibit Membership programs and donors are two of the largest sources of revenue for not-for-profits and museums. These organizations typically reward members with free admission, early access, and other perks to encourage visitation and create value. However, many of these member benefits require being at
What is Loyalty Marketing? Number crunchers will often tell you that loyalty marketing is about things like increasing “customer lifetime value”, “reducing churn”, and “improving brand retention”. And for the most part, they’re right. These are proven effects of a well-crafted loyalty marketing program. Ones that over the last ten years, it’s become hard
