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Loyalty Marketing
Loyalty marketing focuses on creating long-term relationships by rewarding customers for purchasing or engaging with a brand. It involves the management of customer loyalty discounts, loyalty schemes, or benefits for sharing information about the brand with peers. Loyalty marketing also helps promote repeat purchases and positive word-of-mouth from existing customers. It ensures existing customers get the same or better benefits than new customers or get exclusive access to new launches.
What Small and Midsize Businesses Need to Know About Loyalty Marketing
With loyalty marketing, SMBs can turn their customers into brand ambassadors. Loyalty marketing allows SMBs to focus on customer experience and satisfaction through organic marketing channels to attract new prospects as well as retain existing customers.
Related terms
- RM (Relationship Manager)
- Best-in-class
- Customer Relationship Management (CRM)
- Shared Services Or Shared Services Center
- Contact Center
- Customer Information File (CIF)
- Business Development Representative (BDR)
- Customer Relationship Management (CRM) Analytics
- Customer Experience
- Best-of-breed
- Customer Experience Management (CXM)
- Go-to-Market (GTM) Strategy
- Chatbot
- Channel Management
- Corporate Communication
- Customer Engagement Center (CEC)
- Customer Analytics
- CSS (Customer Service and Support)
- Electronic Customer Relationship Management (e-CRM)
- Voice of the Customer (VoC)
