Hightouch reposted this
What do Starbucks, Amazon, Sephora, PetSmart, and American Airlines all have in common? 🌟 Amazing Loyalty Programs 🌟 Amazon Prime: Exclusive perks for members. Starbucks: Special offers & reward points. Sephora: Member events & unique rewards. Nearly every company today is investing in creating similar loyalty programs. Why? Because repeat customers spend more. Statistics show: - Top loyalty programs can boost existing customer revenue by 15-25% annually. - 80% of companies report a positive ROI from loyalty programs, with an average return of 4.9x. - Brands plan to allocate 27% of their marketing budget to loyalty and CRM marketing. Here's the crucial part: To build a great loyalty program, you need to access and use your first-party customer data. The only place that holds all this data is your data warehouse, and the most best technology to put it to work is the Composable CDP. Take PetSmart, for example. By leveraging their customer data effectively with a Composable CDP, they now have over 65M loyalty members, with over 90% of sales coming through their Treats Rewards program. We dove into more of the details in our latest blog + video with the help of retail and loyalty experts like Praveen Koushik Satyanarayana, Atimanas Biswal, and Tom Peace, Certified Loyalty Expert™ - check them out and let us know what you think! https://lnkd.in/eUxSN75u
Tejas, love the commentary here and can't agree more with you about how building loyalty with customers is huge to business success. Building that loyalty requires significant trust that's built through transparency. Would love to chat with you about how we can help build that platform for you all.
This x1000!
Daniel Martins thought of you when I saw this
Crescent CEO. Follow me to be part of our journey building a $10B+ company.
3moValuable insight on building a great loyalty program.