The loyalty management market incorporates effective and planned activities to select, manage, relate, and control customers buying behavior. This method is used to retain a customer by offering rewards on frequent purchases. Such loyal customers share their experiences with their known contacts with advocacy-driven, cloud-based, and mobile-delivered programs. This enables brand promotion and attracts a new audience for the organization. It helps to gather more data and insights to create a more refined customer profile. Loyalty management has become an important part of vendor strategy due to its impact on brand value and the ability of loyalty management programs to retain, as well as attract potential customers.
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