Customer loyalty programs can help drive sales among existing customers but fall flat in growing your base and driving new profit. Here’s how digital marketplaces can fill the gap.
Grocery stores across the country use in-house loyalty programs to incentivize customers to buy more and buy more frequently. These programs are essential for maintaining relationships with loyal customers, but aren’t as effective at driving new business as most store owners and brand managers may think.
As you work through how to improve your business performance, consider what your loyalty program does well for your business and how it may fall short. Let’s dive into the strengths and limitations of most loyalty programs, and the ways in which the right third-party marketplaces can elevate — not erase — the investments you’ve already made to retain lifetime customers.
The right digital marketplace partner will combine all of these scalable benefits in ways that amplify the impact of your existing program. With Upside, your stores can leverage the anonymized transaction data that you already have — in real time — to generate one-to-one promotions for thousands of customers around your store. This is a huge, profitable motivator for new and infrequent customers while maximizing the impact of your customer loyalty program. In doing so, Upside complements — not replaces — your existing strategies, amplifying what already works while adding in the power of an acquisition tool to expand your reach even further.
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