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Loyalty trends and best practices

Grow Your Customer Lifetime Value With The 36 Rules of Social Media Plus This One

by Tiffany Go
October 08, 2012

Fast Company published an infographic featuring The 36 Rules of Social Media from "social media’s savviest users". This is an excellent resource for businesses interested in improving customer experience and building loyalty. We picked three of the most useful tips for retailers and as an added bonus included a rule no social strategy is complete without.... Read more

Want Loyal Customers? Give Gamification A Try.

by Tiffany Go
October 03, 2012

With the market predicted to grow to $2.8 billion* by 2016, gamification is proving to be much more than just another buzzword. In this MarketingProfs article, Darren Steele references a Bain & Co. study that revealed acquiring new customers is six to seven times more expensive than retaining existing customers. The numbers make a pretty compelling case for focusing efforts on building customer loyalty. Steele encourages applying game strategies to create better customer experiences. He also succinctly explains why gamified marketing is effective, crediting “intrinsic motivators” that when used correctly “can be that missing link that keeps existing customers engaged while also bringing new customers into the fold.”.... Read more

Google Shopping Rollout Another Example of Increasing Acquisition Costs

by Matt Ellinwood
September 18, 2012

An excellent post earlier this month on Internet Retailer captured the magnitude of the changes occurring as Google transitions from the method for listing products that's been in place since about 2002 to their new product, called Google Shopping. As the article details, retailers have already seen significant declines in the number of free clicks that Google's product search is sending them. For growing retailers with limited budgets, this is an especially painful hit to growth, as it translates directly to an increase in the cost of customer acquisition, regardless of whether they choose to invest in paid product listings or not. Google's action is part of a larger Google product trend. For the past several years... Read more

The 500friends Blog: Dedicated to Lifetime Value for Retail

by Matt Ellinwood
September 18, 2012
The 500friends Blog: Dedicated to Lifetime Value for Retail

I'm happy to announce launch of the 500friends blog today. The purpose of this blog is to share what we discover and learn in the world of eCommerce, Retail, loyalty marketing, and the impact of technologies that open up opportunities for retailers. 500friends' mission is to help retailers maximize the profitability of their customer relationships. With the accelerating growth of the eCommerce industry globally, competition is squeezing all retailers margin and increasing the importance of investing in customer lifetime value... Read more

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