So you want to set up a loyalty program for your business. What are the do’s and don’ts? 1. Use Artificial Advancement to motivate customers to keep coming back As HelpScout pointed out in their blogpost about loyalty programs, studies have shown that artificial advancement encourage people to participate more: In other words, starting your…
What is omnichannel retailing? According to the top answers about the topic on Quora, omni-channel is the next evolution of multi-channel. Kind of like how social media is the next evolution of social networking. Omni-channel is about having multiple channels that are consistent, coherent and user-centric. A study of 46,000 shoppers shared on Harvard Business Review proves…
One of the best ways to learn how to do something well… … is to understand how it goes wrong. This is why chess Grandmasters actually tend to spend more time analyzing games than playing them. So, what are the mistakes people typically make in small business, and what can we learn from them? 1. No market…
According to Etymonline, “candy” has Arabic, Persian and Indian roots: late 13c., “crystallized sugar,” from Old French çucre candi “sugar candy,” ultimately from Arabic qandi, from Persian qand “cane sugar,” probably from Sanskrit khanda “piece (of sugar),” perhaps from Dravidian (compare Tamil kantu “candy,” kattu “to harden, condense”). The sense gradually broadened (especially in U.S.)…
After Q1 of 2016, Starbucks had $1.2 billion in customer funds loaded onto their plastic and mobile Starbucks cards. This is larger than the amount held by many of the smaller regional banks. They’re so big that it’s a legitimate news event when they decide to make changes to their loyalty program. What makes their loyalty program so compelling?…
Why are you running your own business? When we talk to our retailers, we find that practically all of them are in their line of work for more than just financial reasons. Several of them even quit high-paying jobs to do what they’re doing. They want to make a difference to the lives of their customers, however…