InsightIQ Blog
Loyalty Marketing Insights - Three Essential Links
Jun 26 2009
- There is no "P" in loyalty (Bill Hanifin) -- Bill Hanifin stresses the importance of understanding that loyal customers are not necessarily profitable customers. In other words, starting a loyalty program without having an understanding of customer profitability could hurt your bottom line.
- State of the Loyalty Industry (Michael Hemsey - PDF) -- Key quote: "Loyalty programs are an investment, not a cost center, and they should generate a positive return."
- Analyzing Customers, Best Buy Decides Not All Are Welcome (WSJ) -- Best Buy found out back in 2004 that many of its most loyal customers were hurting its profits. Understanding the relationship between loyalty and profitability led Best Buy to roll out a controversial "angel-devil" strategy. One can only wonder if a similar strategy could have saved Circuit City.
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