Don't Let Your Loyalty Efforts Get Derailed!
You can invest hundreds of thousands of dollars in CRM software, know more about your customers than they do, believe you've covered all bases and belatedly discover little or no brand loyalty exists.
Treating employees with compassion and caring will transform your company's corporate culture at no cost resulting in lower attrition, enhanced customer loyalty, increased profits and greater shareholder return.
My firm has specialized in loyalty marketing for over twenty years. Much of it spent in the casino industry where learning about customers has been taken to a level of sophistication that is mind boggling.
We have shared lots of successes particularly in building new business and creating promotions to drive repeat client visits. But that's not the same as building the loyalty that's critical to lowered marketing costs, increasing lifetime customer value and sustained bottom line growth.
I often challenge my client's by asking them " why will gamblers come and play at your property when the casino next door is offering the same freebies?" Too often, they have no response!
Many companies get lost in the wealth of data they've accumulated believing this will allow them to tailor loyalty building offers to their most important clients.
The sophistication of data mining leads to the conviction they hold all the answers to meeting every customer need. They haven't.