A customer loyalty program is all about employing strategies for customer appreciation, encouragement so as to accomplish customer retention. It may vary from an advanced access to new products to free merchandise. Companies leverage loyalty program to strengthen their relationships with their customers. Here are the most effective tips to make your loyalty program a success:
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In marketing, customer lifetime value or simply CLV refers to a prediction of the net profit attributed to the entire future relationship with a customer. It is an important concept as it encourages firms to focus on the long-term health of their customer relationships rather than the quarterly benefits. Higher the CLV, more successful is the business. Here’s a list of what all can be done to increase the customer lifetime value:
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