Blog: loyalty marketing

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Marketers Revisiting the Definition of a Best Customer

Feb 25 2011

I’m finding myself reading a lot of blogs from Seth Godin – primarily because they are short ‘n sweet, but very insightful.  For anyone who knows me… the shorter and sweeter, the better.  For those who do not know Seth, I recommend that you check him out.  I’m amazed at how well Seth can get a point across with so few words.

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Are you building customer loyalty?

Oct 28 2009

That may be one of the toughest questions your organization has to answer.  A consumer might be completely satisfied with a brand, but does that mean she won't jump at a chance to save money, become more efficient, etc?  It can be hard to stay loyal when there are many options available, and simply providing world class customer satisfaction is no longer enough.

Walker Information Inc. recently polled consumers on the topic of loyalty.   Their research indicated "there's still a yawning gap between the percentage of people who say they're satisfied with a business and those who consider themselves 'loyal' to that business-intent on maintaining the relationship and continuing it into the future."  Jeff Marr, Vice President at Walker offered this, "Many companies have figured out how to deliver satisfaction, but they've not yet figured out how to earn loyalty anywhere near those levels."

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Loyalty Marketing Insights - Three Essential Links

Jun 26 2009

  1. There is no "P" in loyalty (Bill Hanifin) -- Bill Hanifin stresses the importance of understanding that loyal customers are not necessarily profitable customers. In other words, starting a loyalty program without having an understanding of customer profitability could hurt your bottom line.
  2. State of the Loyalty Industry (Michael Hemsey - PDF) -- Key quote: "Loyalty programs are an investment, not a cost center, and they should generate a positive return."
  3. Analyzing Customers, Best Buy Decides Not All Are Welcome (WSJ) -- Best Buy found out back in 2004 that many of its most loyal customers were hurting its profits. Understanding the relationship between loyalty and profitability led Best Buy to roll out a controversial "angel-devil" strategy. One can only wonder if a similar strategy could have saved Circuit City.

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