The business dictionary defines a hypercompetitive market as a rapid escalation of competitive tactics used by direct business competitors. Brands embroiled in a hypercompetitive market typically use a combination of strategies including price wars (such as...
It is no secret that a well-executed loyalty program has the ability to transform a business and fast-track growth. After all, 40% of revenue today for US e-commerce retailers comes from returning customers who represent only 8% of all visitors. As the tides of...read more
Brand Loyalty as a product presents unique opportunities which make for a ripe Artificial Intelligence (AI) and Machine Learning (ML) functionality. Building brand loyalty is a multidimensional phenomenon. Many businesses and research professionals consider Customer...read more
What is a brand loyalty program? When consumers become committed to a particular brand, a behaviour pattern is observed which makes them make repeat purchases over a period of time. Businesses use creative marketing strategies such as brand loyalty programs or reward...read more
What is a loyalty program? Recently, I was at a shopping mall at Winston Salem, North Carolina and to my delight, I found that with every purchase of a Bath and Body Works product, I was able to get another product absolutely free! I came away feeling delighted that...read more
What is loyalty program management? What does a business need to do to manage its loyalty program effectively? It does not matter if you are a small company or a large conglomerate, having a strong loyalty program management system in place will help you to leverage...read more
Why brands need to adopt a mobile loyalty program Nowadays, brand loyalty amongst customers is on the decline due to intense competition and a plethora of choices. While loyalty programs are a great way to increase brand loyalty, most brands still treat their rewards...read more