In an effort to assess the increasingly important concept of customer loyalty, Aberdeen Research recently previewed its upcoming study, focused on re-examining and optimize cross channel loyalty offerings.

An advanced research preview of the report, titled “Cross-Channel Customer Loyalty: Rewards vs. Promotions, and the Battle for ROI,” indicates that there is a growing need for retailers to assess how cross channel loyalty offerings and reward plans compare with promotions, for a clearer understanding on how to increase customer recency, frequency and monetary (PFM) performance.

Best-in-Class retailers are testaments to the positive effects of proper blend of cross channel loyalty offer optimization (customer-segment based point perk or dollar rewards and multi-tier, multi-channel offers or promotions), which are necessary to achieve higher customer retention rates (profitable), as well as reduced customer attrition rates of those with the highest profitability, the report said.

In an effort to drive customer loyalty, CircuitCity.com has launched a new payment option, the CircuitCity Preferred Account. Through the new option, customers will be able to finance their purchases and receive account-specific offers and promotions.

CircuitCity.com is promoting the option on its Web site and emails by offering preferred account holders $20 off a purchase of $100 or more when they use the account. Shopper can apply for the account at checkout. Account holders pay no interest for up to 12 months on orders of $1,000 or more and up to six months for orders of $250 or more.

“We think there is a loyalty factor here,” Bruce Leeds, Vice Chairman of CircuitCity.com parent company Systemax Inc told an online retail magazine. “The people who apply are likely to come back more often and use the card. That’s a big positive.”

Systemax, which offers similar programs with some of its other brands, such as TigerDirect.com, uses BillMeLater’s back-end infrastructure for the program.

"1800Flowers.com has built its trusted reputation by leveraging innovative technologies and tools to further enhance the customer experience," said Jim McCann, Founder & CEO, 1800Flowers, in a recent press release. "We recognize the power of online video to engage and educate customers and we will continue to work with Howcast to focus on our new media strategy, as it pertains to effectively communicating with our customers."In an effort to streamline customer’s purchasing decisions with education and shopping advice, the florist will integrate Howcast’s online video offering into its Web site and be available via YouTube and AOL, among other partners.

As the retail industry shows “signs of life” and retailers look for new ways to acquire and retain customers, advertising innovation is front and center. During this week’s RAMA Retail Innovation & Marketing Conference & Expo in San Francisco, retailers were honored for their top-notch concepts and consumer outreach.

Consistent with the retail industry’s hot buttons, several new categories were introduced this year, including Social Commerce, Mobile Apps and Rich Media Online Advertising and Promotion.

Sears was awarded the newly added Peter Glen Cause Marketing Award, which is reserved for winners that have given back to the community or environment in a unique way. Sears earned prestige for its partnership with Rebuilding Together, under which the “Heroes at Home” program was created to provide repairs and modifications to the homes of wounded soldiers and other military families in need. Since its inception in 2007, Sears has seen letters from military families all over the country giving thanks.