ON DEMAND Newsletter

InfoTrends Insights: Retention is the Key to Building a Loyal Customer Base

4 Jun, 2012

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In today’s market, personal relationships with clients are no longer enough. Marketers across all industry segments are challenged with understanding how to effectively leverage cross-media communications and build out effective campaigns. InfoTrends’ study, Building a Loyal Customer Base: It’s All About Retention! Outlines strategies for establishing a loyal customer base and provides real-world examples of companies that have evolved to offer loyalty programs for today’s market.

 

Characteristics of a Good Loyalty Program
All loyalty programs are unique, and they require ongoing and complex communications. If customers don’t understand a program or if the terms change, they will become disinterested at best or feel betrayed at worst. The characteristics of a good loyalty program include:

• Clear benefits
• Achievable rewards
• Consistency
• Sustainability
• A feeling of appreciation
• Engagement
• Personalized, ongoing communications (print and electronic)
• Reward for referrals

 

Loyalty programs in general are a huge opportunity for print and value-added services. These programs can be used for program planning, creative collateral development, customer support, or rewards and redemption management. In today’s market, success requires: defining a targeted market, becoming an expert in understanding customers’ business issues, taking a cross-media approach to engaging customers’ clients, leveraging cross-media to drive interaction between print and electronic communications to improve and measure campaign response, and leveraging loyalty programs to generate ROI for you and your customers.

 

InfoTrends’ Building a Loyal Customer Base: It’s All About Retention! is part of the Business Development Strategies Service. For more information on this service, please contact Keith LaVangie at +1 781 616 2132 or keith_lavangie@infotrends.com.
 

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