The basics of customer loyalty
What is a loyalty program? A loyalty program is a strategy to reward customers with structured discounts and exclusive offers for behaviors that positively impact your brand, such as purchases, reviews, or collaborations. With the growth of the e-commerce industry, acquiring and retaining customers is more expensive and challenging than ever before. Knowing that it costs 5 times more to acquire a new customer than it does to retain existing customers, eCommerce stores that focus on customer retention have higher and more efficient revenue streams. …