Are you taking care of your most valuable customers?
As a marketer, you intuitively know that some of your customers are long-term, loyal and profitable. You also know that some customers are a drain on your margins because they always go for the low-cost offer.
Naturally, you want to reinforce the first group so that they don’t drop out—because once consumers switch to another company, industry surveys show that 68 percent of them will not come back.1 But if you can’t see which customer is which, you can’t engage them appropriately and proactively.
Loyalty programs leave a significant portion of their members unengaged
While 63 percent of consumers participate in payments rewards programs, only 19 percent use rewards programs regularly.2 One reason is that too many marketers take a less-than-proactive approach to managing their loyalty programs. Does this scenario seem familiar?