Loyalty schemes: Building loyalty

We know that the insurance industry is one of the sectors where it can be most difficult to encourage customer retention. With insurance usually being an annual purchase and most people hunting for the best priced policies, it can be hard for an insurance company to offer a unique service.

With this in mind, M&S for Business has carried out some research to discover what qualifies as a successful customer acquisition and retention strategy within the industry and found that reward schemes are something that are seen as value for a customer.

This article focuses on why rewarding valued customers could lead to increased satisfaction and boost retention rates.