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Retail CRM provides insights from leading retailers and industry experts that help improve the customer experience at every touch point and across all channels. Some topics covered in CRM articles include customer loyalty, email marketing and promotion optimization. Subscribe to the feed and stay in touch with the latest retail happenings.

3 Ways To Drive Sky High Retention Rates

With the excessive increase in marketing content blasted out to consumers on a daily basis, it’s often a challenge for retailers to create new, organic and compelling messages that will grab a consumer’s attention. Even when brands are successful in appealing to a consumer’s interest, they still face the challenge of retaining loyal customers at a high level. To no one’s surprise, both in-store and online retailers agree that new customers are more difficult and expensive to acquire compared to repeat customers. As a result, retailers are constantly looking for new ways to retain customers to maximize the company’s return on investment (ROI). For retailers looking to engage customers on a deeper level and increase customer lifetime value, below are three tips to help exponentially increase retention rates.

Collinson Group Acquires Rewards Platform From Linkable Networks

Collinson Group, a UK-based customer loyalty service provider, has acquired the card-linked-offer (CLO) platform from Linkable Networks. The deal enables Collinson Group to immediately offer CLOs in the U.S. Financial terms of the purchase have not been disclosed. The CLO platform is designed to enable businesses to link loyalty and rewards offers to their payment cards, incentivizing consumers across multiple channels, including online, mobile and in-store.

Shopkick Now Rewards Users For Shopping On Mobile Devices

  • Published in News Briefs
Shopkick is an app known for rewarding shoppers with gift cards just for walking into a store, interacting with products in the aisle and purchasing items in stores. Now for the first time, Shopkick will offer rewards for mobile browsing and buying from web sites such as Boxed, eBay, Groupon…
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Belk Invests $40M To Upgrade Store Footprint

  • Published in News Briefs
Bucking the trend among department stores to shrink their brick-and-mortar footprints, Belk will open three new stores and remodel 12 more as part of a nearly $40 million capital improvement plan. The first two new stores, in Evans, Ga. and Bowling Green, Ky., are scheduled to open in October 2017; the…
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The Power Of Surprise: Rue La La Drives Loyalty Via Product Sampling

Members-only e-Commerce fashion retailer Rue La La has expanded its partnership with e-Commerce media network and product sampling company BrandShare to deliver more free product samples to its shoppers. When the retailer ships purchased products to consumers, it regularly adds a package with a sample product from a fashion, beauty, or food and beverage brand. Each package is designed to surprise the shopper upon delivery, and includes a card explaining why Rue La La believes the product is a good fit for the consumer. Rue La La first partnered with BrandShare in 2014 in an effort to drive loyalty to its brands. By delivering samples and targeted advertising in-home, Rue La La can generate new product sales going forward while enabling CPG brands to directly engage with its customers. As many as 73% of consumers said a new product sample would persuade them to purchase the item, according to data from Sampling Effectiveness Advisors.

Exclusive Q&A: How To Add 15,000+ New Customers Each Month

You will never hear Brian Berger, CEO of men’s underwear retailer Mack Weldon, apologize for the limitations of selling intimate apparel online. Quite the opposite, in fact: “Our whole business is formulated on the idea that the best way to buy the things we sell is not in a physical store,” said Berger. The success of the business, which Berger co-founded with Michael Isaacman in 2012, supports his belief. Mack Weldon has been more than doubling its business year-over-year and boasts a customer base of more than 250,000. The brand is adding well over 15,000 new customers each month and maintaining high loyalty rates: 20% of new customers return within 60 days, and they spend, on average, 40% more than they did on their initial visit.

Tesco Adds Contactless Features To Loyalty Card

  • Published in News Briefs
Tesco has unveiled a contactless option as part of its Clubcard loyalty program. Thames Card Technology developed the project in partnership with Tesco. Rather than swiping a loyalty card at the POS terminal, users can instead just tap the card to instantly add any earned points from their transaction. Customers…
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The New Customer Loyalty Formula

Over the last decade, consumers have demanded more choice — and retailers are delivering through the scaling power of online commerce. Yet choice begets complexity, and shoppers are feeling the frustration of unanswered questions and lackluster experiences. In an era where price, choice and product are no longer enough to differentiate, retailers must focus on two intangible qualities that inform consumers’ shopping decisions: an emotional connection and effortless commerce.

Seven Key Indicators Of A Loyalty Program That Truly Drives Devotion

Retailers are regularly revamping, enhancing and merging their loyalty and rewards programs to create devoted customers — as in, the most desirable relationship, characterized by intimacy, passion and commitment to a brand. For instance, Hilton recently announced new benefits for its Hilton Honors members, including the ability to pool points with friends and family, and to use acquired points to purchase items on Amazon. Earlier this winter, Sears decided to double down on its loyalty program by offering credit from in-store purchases during a one-day event prior to the holidays. These are just a handful of examples that demonstrate how brands must remain malleable to accommodate the evolving market, which reflects a desire for convenience, consolidation of programs and a personalized retail experience.

Who Are Your Superconsumers? Why Retailers Need To Know

They walk among us. They look just like everyone else, but they have a secret identity. They are: SUPERCONSUMERS! Superconsumers are more than just good customers; they are passionately devoted to “their” brands. They are the sneaker-heads who own dozens of pairs of sneakers, or the bacon-loving consumers who call themselves “pork dorks.” They comprise approximately 10% of a brand’s customer base, and former Cambridge Group Principal Eddie Yoon believes retailers should proactively establish a dialogue with their Superconsumers and really get to know them. The insights they reveal will provide valuable clues about marketing, merchandising and product development — and they might even help turn some regular consumers into SUPERCONSUMERS!

Retailers Vs. Brands: The Battle For Consumer Attention

Consumer expectations have reshaped the dynamic of how retailers and brands approach their partnerships. With fewer people shopping in stores and direct-to-consumer selling on the rise, the retailer-brand relationship is strained: Brands are finding a niche in direct-to-consumer sales; Loyalty is becoming more “brand”-focused and less merchant-focused; Data analytics sharing is vital to successful retailer-supplier partnerships; and Retailers are looking for lower prices, better content and more co-op investment from their brand partners.

Online Retailers Teach Personalization, Mobile & Convenience To Brick-And-Mortar Competitors

Recent headlines in both the trade and mainstream press have been full of variations on the same theme: Brick-And-Mortar Retail Is Dying! And these headlines are not just clickbait.  There were more retail bankruptcies in the first four months of 2017 than in all of 2016. A rash of store closures also are making the news, both by some of the largest retailers (Macy’s, Sears, Payless Shoe Source) and smaller players including hhgregg and The Limited. An NBC News report noted that more than 100,000 retail workers have lost their jobs since October 2016. A frequent counter-argument to these stories goes like this: If brick-and-mortar retail is such a terrible business model, why are so many online retailers rushing to open physical stores? (A partial list includes Amazon, Warby Parker, Bonobos, Minted and Casper.) It’s certainly a valid question — but the answer is more complicated than it might appear at first glance.

4 Tips To Improve Consumer Engagement With Loyalty Programs

Consumers are eager to sign up for loyalty program memberships: average program enrollment has climbed 31% over the past four years, reaching 14.3 programs per member. But getting shoppers into a program is the easy part; it’s much tougher to keep them engaged. On average, consumers are active in only 6.7 programs, less than half the total that they belong to. The 2017 Bond Brand Loyalty Study, based on a survey of more than 28,000 North American consumers, examined 400+ loyalty programs across more than 10 industry sectors. The good news for retailers is that they already have a head start. Many of the programs offered by retail brands rank high in customer satisfaction, according to the report.

Retail Customer Acquisition Vs. Retention: A Zero-Sum Game?

It’s one of the eternal questions retailers face: Do we focus more on customer acquisition or on customer retention? At first glance, the answer seems to be a no-brainer. Unless a retailer is totally new to the market — meaning acquiring customers is a matter of survival — retaining existing customers offers the double benefit of lower costs and higher returns. The cost of acquiring a new customer can range from five to seven times the expense of keeping an existing one. The probability of converting a new customer falls in the 5% to 20%range; for existing customers, it’s between 60% and 70%.

Data-Driven Personalization Serves 1.2 Million Loyal Fabletics Customers

Many retailers talk a good game when it comes to personalizing interactions with each customer, but Fabletics really walks the walk. The brand is gathering extensive customer data from the 1.2 million members of its continuity-based subscription retailing program; Fabletics supplements this data collection with sophisticated in-store technologies that build comprehensive customer profiles in near real-time. But Fabletics also uses that data, in ways large and small. This continuous feedback loop gives the retailer a competitive edge in a number of key areas, including:
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