It was in 1896 when customers first enjoyed one of the first loyalty programs, according to Mediaplanet.
It was called the S&H Green Stamps program – a program in which customers collected tiny stamps from businesses and then glued the stamps to pages of booklets. These stamps were small paper coupons. Customers then used the booklets to purchase products at businesses that participated in the program.
Today, customer loyalty is about more than coupons. It’s also about education, alignment of company and customer values, technology, and relationships.
Businesses should invest resources in customer loyalty to increase the amount of customers that keep coming back to their stores. A 10 percent increase in customer retention levels leads to a 30 percent increase in the value of a company, according to Bain & Co.
Here are five ways to help encourage customer loyalty for your company for both B2B and B2C businesses.
The first self-service supermarket opened back in 1916 with a chain of supermarkets called Piggly Wiggly, which are still open today. Since then, supermarkets have dominated the world with both small operators and big names like Walmart competing fiercely for consumers.
With small margins and new competitors popping up all of the time, supermarkets have had to optimise and improve their businesses constantly with every part of a supermarket meticulously planned and fine-tuned to maximise profitability.
Everyone wants to find a secret weapon in their marketing – something that will take all of their campaigns across all channels to the next level and generate them returns never seen before. But, does this mythical and often searched for secret weapon exist?
In my view – yes it does, but before we get into that, let’s have a look at a common mistake made by marketers around the world. That mistake? Focusing the majority of their time and money on short term, one-off marketing campaigns. It’s something I see companies around the world making – they spend heaps of time, scrambling to get campaigns designed, developed, and launched only to have them run for 14 days before starting the whole process again.
The problem with that? Every single hour and dollar they have spent on those campaigns has a limited time period to make them a return on their investment. As soon as the campaign is done, they’re onto the next one, reinvesting more time and money to generate them a limited return.
This article originally appeared on Medium.
The digital age has brought with it business disruption on a scale that’s never been seen before.
It’s no longer uncommon to see ‘unknown’ startups rapidly grow and overtake competitors in long-established industries — seemingly overnight.
But how do they do it?
I used to be a vocal sceptic of all the AI & Machine Learning settings in Google Adwords, and firmly said no to our Google team who regularly suggested we switch campaigns over.
Why? Quite simply we’d tested these settings multiple times for clients over the past 6 or 7 years and they didn’t work! We would switch them on for a client who had consistent (and improving) results, and start to see the results either declining, going haywire or ramping up the spend to Google’s benefit, but without many additional conversions.
Luckily, things are different now, so i’ll tell you what has changed, the best practices that you need to follow before you start and a full breakdown on all of the Google Adwords AI & Machine Learning Optimisation options available for you.