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Loyalty programs are a great way to reduce your churn rate.

Loyalty programs are a great way to reduce your churn rate.

Matthew Flatman |

Loyalty programs are a great way to reduce your churn rate.

 

53% of consumers say that loyalty points make them stay with a brand for longer.

 

The problem is loyalty programs aren't a new concept so think outside the box & create something unique that will resonate with your customers.

 

A few loyalty programs your competition may not be using

 

Tiered Loyalty Programs:

- As customers move up the tiers, they unlock more exclusive rewards. It's like a VIP club within your customer base.

 

Gamified Loyalty Programs:

- Introduce an element of fun by incorporating games or challenges.

 

Charity-Based Programs:

- Tie loyalty to a cause. For each purchase, a portion goes to a charity.

 
 

Churn rate = The percentage of customers lost over a specific period, a metric indicating customer retention and the effectiveness of your sales efforts.