Retail in Asia

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A guide to loyalty program success

Recognizing your most valuable customers is the largest benefit of implementing a loyalty program, as it not only rewards them for their past patronage, but promotes them to advocates for your brand. According to Bain & Company research, a 5% increase in customer retention can increase profits by up to 75%. What’s more, the Chartered Institute of Marketing reported the expense to gain a new customer reaches 5 times what it costs to keep an existing one. It’s said you never know how each new customer will affect your business, but you can point and look at wherever a lost customer has.

There’s a longstanding principle devised by Italian Economist Vilfredo Pareto called the 80/20 rule – that 20% of your customers are responsible for 80% of the profits. Investing in a dedicated loyalty program is a proven strategy to identify, reward, and protect these most valued patrons. 

Download the guide at the above link to find out how to successfully deploy your loyalty program.

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