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Beyond discounts: 5 acquisition strategies to protect retail profit margins

Use Insider

The benefits of tailoring discounts to your customers Yes, discounting works. But only when done to increase customer loyalty—by tailoring discounts to your customers. To achieve that, you need to start with a full 360-degree view of your customers, including their behaviors, preferences, past purchases, and more.

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8 proven retention marketing strategies to boost customer loyalty

Use Insider

Take loyalty programs as just one example of the power of engaging your current customers. Better cost-effectiveness Some research indicates that acquiring a new customer can cost five to seven times more than retaining an existing one.

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Master Your Margins: Effective Price Strategy Techniques for Maximum Profit

Vertical Response

Selecting a suitable price strategy is a critical step for businesses aiming to maximize their profit margins and gain market advantage. Competitive pricing should account for competitor analysis and market positioning, while value-based pricing focuses on pricing products based on perceived value to the customer.

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Research Finds Customer Loyalty Isn't What It Used to Be [2023 Data]

Hubspot Marketing

It’s a reality we can’t ignore: Customers are increasingly exploring different brands and shopping options. Product unavailability and depleted inventory shelve coupled with rising prices have made even the most loyal customers inclined to venture beyond their go-to brands. Does that mean brand loyalty is dead?

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Four ways that luxury brands are building customer loyalty through digital channels

Econsultancy

Luxury retailers do not typically offer loyalty programs, with regular point-based price discounting schemes going against the high-end and aspirational style of branding that the luxury sector is known for.   So, how else are luxury brands inspiring loyalty? Investment in digital clienteling tools.

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6 Retail Strategies to Improve Sales

Power Digital Marketing

Retailers have been fighting an uphill battle since 2008, when the financial crisis plummeted brick-and-mortar sales to a 35-year all-time low. 1 Since then, retailers have been squeezed by thinning margins, increased eCommerce competition and ballooning SG&A (selling, general and administrative expenses).

Retail 52
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Demystifying non-linear retail search journeys with behavioural economics

Econsultancy

Based on our earlier example, this could be phone technical specs, price, personalisation options, finance options, warranty, delivery, etc. Are any authorities or credible sources featured, helping to reassure the customer this is indeed the right choice? This is related to the category heuristics.

Retail 105