Loyalty Programs & Customer Retention
How can we create long-term satisfaction and nurture the customer’s loyalty to a product or brand? What are proven methods for ensuring customer retention and preventing defections?
The measure of a successful customer loyalty plan is increased customer lifetime value, which is attained by creating an interactive and lasting relationship with customers that brings added value to both parties.
A customer loyalty plan is an integral and key part of a comprehensive approach to customer management. The crucial effect of this component in the overall customer management and marketing strategy has gained worldwide recognition.
Yissum Strategies’ customer loyalty programs are designed using a two-tier approach:
- The Rational Tier – addresses customer value.
- The Emotional Tier –creates a bond with the customers by attending to their needs and wishes.