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    on October 16, 2017 Customer Retention

    Shifting the Focus: The Value of Customer Retention

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    While the acquisition of new loyalty members is incredibly valuable, customer retention is often overlooked.

    Inspiring existing members to re-engage with your brand is cost-efficient and can reignite a long-lasting brand-consumer relationship.  Over time, a large percent of loyalty program members will become inactive and standard platform mechanics often fail to grab the attention of lapsed members, successfully re-engaging them.

    Here are 3 stats to keep in mind when combatting customer retention issues:

    1.  A typical U.S. household is enrolled in 19 to 29 different loyalty programs, however, it only actively uses 5 to 12 of them. (Colloquy)

    2.  80% of ‘switchers’ feel the company could have done something to retain them. (Accenture)

    3.  61% of consumers say receiving an offer from a brand they had not interacted with in a long time would encourage them to reconnect. (Equation Research)

    By utilizing the Quikly platform, clients see a 2-3X increase in reactivated lapsed members compared to a program's existing strategies. Quikly provides an incentive structure that motivates immediate, active participation and generates insight as to why those members became at-risk.

    Bess Owen

    Content Marketing Manager