Why Loyalty Programs Don’t Work…
As Marketers, one of the key metrics we follow is brand engagement, also known as Loyalty. We often talk about the size of a market, or how much market penetration a particular business or campaign has achieved. Loyalty is the measurement of how much of our captured market repeats business with us. It’s said keeping a customer is cheaper than gaining a new one. Considering the retail industry as a whole spent over $1.9 Billion in 2016 running Loyalty programs, I’d say it’s