Hillstrom's Loyalty: Measuring Why it is So Hard to Grow a Business via Loyal Customers
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Hillstrom's Loyalty: Measuring Why it is So Hard to Grow a Business via Loyal Customers
Loyalty Programs. They are everywhere! And yet, companies keep going out of business. Ask any airline or retail brand for starters. If loyalty programs worked and it was more expensive to find a new customer than to retain a loyal customer, then wouldn't companies be succeeding at epic levels? Of course they would! But companies succeed or fail for other reasons, don't they? In "Hillstrom's Loyalty", Kevin Hillstrom explains why the customer journey from a first purchase to a loyalty is so long that companies are better off investing in new customers. Via modern analytics, Mr. Hillstrom demonstrates how the return on investment in loyal customers can be problematic.
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