Dear Reader,
As customer acquisition costs fluctuate wildly due to changes to social media algorithms and advertising markets, companies have a renewed focus on customer retention and the concept of "customer lifetime value."
While many factors go into improving customer retention, loyalty programmes have proven to be a significant opportunity as they become more sophisticated each year. Those that find the right balance of incentives for their customers have seen major benefits: Ulta Beauty describes its successful rewards programme as the "heartbeat" of its entire business.
In our latest case study, "Building an Effective Loyalty Programme," BoF's Liz Flora explores how to launch, run and grow a loyalty programme in beauty and fashion, looking at what drives sales, online buzz, membership growth and repeat customers.
In addition to Ulta Beauty, the report features interviews with executives from independent brands that have launched their own successful loyalty programmes, including Merit Beauty and Brandon Blackwood New York.
To learn more, download the full case study now.
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