What does 'customer loyalty programs' encompass in marketing? 🔊
Customer loyalty programs encompass strategies designed to foster and reward repeat purchases from customers. These programs typically offer incentives such as discounts, rewards points, or exclusive offers, aiming to strengthen the emotional connection between the brand and its customers. By enhancing customer satisfaction and encouraging long-term engagement, businesses can increase retention rates, improve customer lifetime value, and build a strong competitive advantage in the marketplace.
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