Latest news with #CustomerLoyalty
Entrepreneur
6 days ago
- Business
- Entrepreneur
What Builds True Customer Loyalty? 6 Business Leaders Share Their Best Tips.
This story appears in the July 2025 issue of Entrepreneur. Subscribe » Customer loyalty is tough to earn and even harder to keep. You want your customers to feel heard and valued, but it's not always simple. We asked six business leaders from six successful companies to share the strategies they use to keep customers happy, engaged and coming back for more. No matter your industry, these insights are practical, impactful and worth borrowing. 1. Take the hit in hard times. "Loyalty is built not during times of success, but when things don't go as planned. One client's business model needed to pivot due to unforeseen challenges. Despite the significant cost to us, we helped them restructure their team and adapt their strategy, at no additional charge. This decision reinforced our long-term commitment to the relationship, and as a result, that client has since expanded their team with us by 5X and continues to grow the scope of services they trust us with." — ALEX ROSS, cofounder and chief operating officer, Horatio 2. Lean into unexpected places. "In the summer of 2023, a TikTok trend exploded our business and created an entirely new consumer set. It was called the 'flat belly challenge,' and in it, women in southern states showed each other that if they drank kombucha on an empty stomach for seven days, they felt less bloated. It yielded a huge uptick in sales at Aldi and Walmart, places we hadn't considered to be hotbeds of demand for kombucha. It taught me that loyalty can come from anywhere — we can't be too precious about who we target or speak to — and that real, actual benefits can be a driving force." — CHARLOTTE MOSTAED, chief marketing officer, Health-Ade Related: Want Loyal Customers? Try These 5 Ways to Inspire Them 3. Make customers feel heard. "A product like tea is tied to experience, ritual, and the feeling it brings people. So when we make customers feel heard and valued, they keep coming back. Once, a longtime customer reached out about their favorite tea we had discontinued. They were disappointed. So we took the time to understand what they loved about it and our team then curated a selection of teas that closely matched what they were looking for. They were so moved by the effort that they became an even more loyal customer, and shared their experience with others." — STEVE SCHWARTZ, founder, master blender, and CEO, Art of Tea 4. Relentlessly improve your product. "We've always been hyperfocused on establishing a deep understanding of our customer and providing purpose-driven products that embody our 'fewer, better' ethos. We've done this by constantly listening to our audience and evolving our product selection, which allows us to foster long-term relationships. A great example is our iconic System Tote. While it's been a bestseller for years, we've refined it over time to grow with our customers and consistently exceed expectations." — KARLA GALLARDO, cofounder, Cuyana Related: Your Business Doesn't Need to Be Perfect — Here's How Customer Loyalty Really Works 5. Treat customers like partners. "When we started out, barely anyone in our industry offered transparent pricing. But we committed to never nickel-and-diming customers and publishing our prices online. We answer the phone in 45 seconds or less, 24/7 — whether to help customers move through a win like adding a new hire they've been courting for a month to their team, or go through something painful like a workforce reduction. These things might seem small, but together they really matter to the small businesses we serve." — MICHAEL SECKLER, CEO, Justworks Related: Customer Loyalty Is Your Holy Grail for Success. Here's How to Cultivate It. 6. Watch for customer pain points. "One of the most painful yet valuable things you can do is watch a customer use your product in real time. It can be humbling, even frustrating, to see where they struggle or get confused, but it's also one of the fastest ways to understand their true experience. The moments where a customer stumbles are the biggest opportunities to improve, and fixing those pain points is what builds long-term loyalty." — VIVEK RAGHUNATHAN, senior vice president of engineering, Snowflake Ready to break through your revenue ceiling? Join us at Level Up, a conference for ambitious business leaders to unlock new growth opportunities.
Associated Press
30-06-2025
- Business
- Associated Press
Customer Loyalty Management Software Market Opportunities and Strategies to 2034: Fragmented Market Sees Top 10 Players Capture Just 14.67% Share, Led by Epsilon, Oracle, and Salesforce
DUBLIN--(BUSINESS WIRE)--Jun 30, 2025-- The 'Customer Loyalty Management Software Market Opportunities and Strategies to 2034" report has been added to offering. This report describes and explains the customer loyalty management software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region. The global customer loyalty management software market reached a value of nearly $13.07 billion in 2024, having grown at a compound annual growth rate (CAGR) of 17.15% since 2019. The market is expected to grow from $13.07 billion in 2024 to $28.79 billion in 2029 at a rate of 17.10%. The market is then expected to grow at a CAGR of 16.39% from 2029 and reach $61.5 billion in 2034. Growth in the historic period resulted from the rise in smartphone penetration, significant adoption of automation, increased use of digital payment systems and growing demand for cloud-based solutions. Factors that negatively affected growth in the historic period were regulatory complexities and data privacy and security concerns. Going forward, the rise of omnichannel retailing, rise of digital transformation, growing influence of social media and rise in B2B loyalty programs will drive the growth. Factor that could hinder the growth of the customer loyalty management software market in the future include lack of expertise and high implementation costs. North America was the largest region in the customer loyalty management software market, accounting for 38.28% or $5.0 billion of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the customer loyalty management software market will be Asia-Pacific and Middle East where growth will be at CAGRs of 19.82% and 18.11% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 17.13% and 16.44% respectively. The global customer loyalty management software market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 14.67% of the total market in 2023. Epsilon Data Management LLC was the largest competitor with a 4.88% share of the market, followed by Oracle Corporation with 4.02%, Salesforce Inc. with 1.58%, Yotpo Inc. with 0.93%, Brierley+Partners Inc. with 0.89%, Bazaarvoice Inc. with 0.71%, Bond Brand Loyalty Inc. with 0.54%, Fivestars with 0.40%, SumUp Payments Limited. with 0.40% and Kobie Marketing Inc. with 0.32%. The customer loyalty management software market is segmented by component into software and services. The software market was the largest segment of the customer loyalty management software market segmented by component, accounting for 58.90% or $7.7 billion of the total in 2024. Going forward, the software segment is expected to be the fastest growing segment in the customer loyalty management software market segmented by component, at a CAGR of 18.43% during 2024-2029. The customer loyalty management software market is segmented by deployment into on-premise and cloud. The cloud market was the largest segment of the customer loyalty management software market segmented by deployment, accounting for 68.50% or $8.95 billion of the total in 2024. Going forward, the cloud segment is expected to be the fastest growing segment in the customer loyalty management software market segmented by deployment, at a CAGR of 21.35% during 2024-2029. The customer loyalty management software market is segmented by operator into business to business and business to customer. The business to business market was the largest segment of the customer loyalty management software market segmented by operator, accounting for 70.41% or $9.2 billion of the total in 2024. Going forward, the business to customer segment is expected to be the fastest growing segment in the customer loyalty management software market segmented by operator, at a CAGR of 20.71% during 2024-2029. The customer loyalty management software market is segmented by applications into campaign management, reward distribution, SMS marketing and other applications. The campaign management market was the largest segment of the customer loyalty management software market segmented by applications, accounting for 35.60% or $4.65 billion of the total in 2024. Going forward, the reward distribution segment is expected to be the fastest growing segment in the customer loyalty management software market segmented by applications, at a CAGR of 19.34% during 2024-2029. The customer loyalty management software market is segmented by end user into banking, financial services and insurance, information technology and telecommunications, transportation, retail, hospitality, manufacturing, media and entertainment and other end users. The retail market was the largest segment of the customer loyalty management software market segmented by end user, accounting for 22.64% or $2.95 billion of the total in 2024. Going forward, the retail segment is expected to be the fastest growing segment in the customer loyalty management software market segmented by end user, at a CAGR of 19.65% during 2024-2029. The top opportunities in the customer loyalty management software market segmented by component will arise in the software segment, which will gain $10.24 billion of global annual sales by 2029. The top opportunities in the customer loyalty management software market segmented by deployment will arise in the cloud segment, which will gain $14.6 billion of global annual sales by 2029. The top opportunities in the customer loyalty management software market segmented by operator will arise in the business to business segment, which will gain $9.67 billion of global annual sales by 2029. The top opportunities in the customer loyalty management software market segmented by applications will arise in the campaign management segment, which will gain $6.18 billion of global annual sales by 2029. The top opportunities in the customer loyalty management software market segmented by end user will arise in the retail segment, which will gain $4.29 billion of global annual sales by 2029. The customer loyalty management software market size will gain the most in the USA at $5.39 billion. Market-trend-based strategies for the customer loyalty management software market include developing innovative solutions, such as cloud-based loyalty management solutions, development of innovative solutions, such as AI-powered SaaS-based loyalty offerings, developing cutting-edge solutions, such as AI-powered loyalty platforms and strategic collaborations to strengthen their technological capabilities. Player-adopted strategies in the customer loyalty management software market include focus on strengthening its business operations through new launches and focus on strategic partnerships to better serve the industry and to strengthen their position. To take advantage of the opportunities, the analyst recommends the customer loyalty management software companies to focus expanding cloud-based loyalty platforms for integrated customer engagement, focus on ai-driven saas loyalty solutions for e-commerce growth, focus on ai-powered personalization to enhance customer retention, focus on the software segment to drive faster growth, expand in emerging markets, continue to focus on developed markets, focus on expanding strategic partnerships across global technology ecosystems, focus on tiered pricing models to maximize customer retention and revenue, focus on targeted digital campaigns and incentive-driven outreach, focus on account-based marketing and referral strategies, focus on account-based marketing and referral strategies. Major Market Trends Key Mergers and Acquisitions Markets Covered: Key Attributes: Companies Featured For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY MARKETING COMMUNICATIONS SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 06/30/2025 10:21 AM/DISC: 06/30/2025 10:21 AM
