Learn The Three Rs of Customer Loyalty Programs

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According to the Harvard Business Review, it costs a business 5-25 times more to acquire a new customer than it does to sell to an existing one. On top of that, Inc. Magazine notes that existing customers spend 67% more than new customers. Clearly, customer loyalty pays off. 

Here we explore the “Three Rs”: Rewards, Relevance, and Recognition, a mnemonic coined by marketing executive Paulo Claussen, that can help brands understand key elements of strong and effective loyalty programs.

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