Circumstances and Customers Have Changed: Has Your Loyalty Program Kept Pace?
We have all read the statistic that says it costs five times more to acquire a customer than to retain one. And, intuitively we all know that profitable customers are more difficult to get, keep, and grow than ever before. In our age of information, choices are overwhelming for customers, making it increasingly difficult to keep their attention. And if we, as organizations can't influence the communication channels or the customer experience the way we used to, how can we create and nurture loyal relationships the way we want to? Truth be told, the same old "tried & true" static loyalty strategies just don't work. According to the 2009 COLLOQUY Loyalty Marketing Census, while the average household is enrolled in 14.1 loyalty programs, they are only active in 6.2 programs. In fact, poorly implemented loyalty strategies can actually diminish customer loyalty. So what do you do? Find out in this new complimentary white paper by Peppers & Rogers Group and Oracle.