Salt Lake City, Utah, 04/29/09 / PR Newswire — Access Development, a leading loyalty marketing firm and merchant network provider, has underwritten the Aberdeen Group report, "Cutting Edge Customer Loyalty: Retail Best Practices for Acquiring, Retaining and Engaging Customers.” The new benchmark report identifies successful practices to help companies design loyalty programs to counter the current economic climate.
In the report, Best-in-Class companies are shown to be 90% more likely than Industry Average companies to possess loyalty card redemption applications like those delivered by Access Development. "Companies who have a loyalty solution in place, as compared to those without a loyalty solution, are performing at significantly higher levels across a number of important metrics, including a 53% higher compound growth rate," reports Sahir Anand, senior analyst and chief author of the Aberdeen report.
The report also specifies several critical factors in designing effective loyalty programs. Among these factors are 1) capturing purchase data at the point of service, 2) delivering relevant offers based on purchase history, 3) using automated systems to avoid human error and 4) keeping implementation and redemption simple.
Access has relied upon best practices such as these for 25 years to design loyalty programs that drive increased business to its merchant partners with a unique, symbiotic loyalty model. As a result, Access clients see results similar to those achieved by the report’s Best-in-Class companies, which increased net profits by 50% and the compound annual growth rate by 96% over their peers.
A broad spectrum of corporations, banks, professional associations and alumni groups rely on the Access rewards network as part of their loyalty strategy. These organizations build stronger relationships with their customers, members and employees by helping them save on everyday purchases from brands like Best Western, AMC Theatres, 1-800-FLOWERS.COM®, SeaWorld and thousands of other restaurants and retailers nationwide.
"The success of Access Development has always been a result of helping others succeed and save money," says Casey Kleinman, Access President. "This report validates our model, which directly alleviates the financial burdens on households while helping businesses sustain and grow revenue in this challenging time."
Click here to obtain a complimentary copy of the report, courtesy of Access Development.