Business owners and marketers are often caught between customer loyalty and customer retainment. Retainment, according to YourDictionary.com, is the process of keeping something in possession, or keeping someone engaged. When you keep a customer that in your business and having them come back for more, instead of going to your competition, this is an example of retainment.
One recent by SheerID study sought to find out how companies offer discount coupons before the holiday season. In particular, the study aimed to examine the impact of discounts on both customer retainment and customer acquisition. Some of the findings of the study which involved 76 companies include the following;
- It emerged that up to 84% of companies are planning to offer discount coupons before this year’s holiday season, mostly via social media marketing channels, such as Facebook, Instagram and YouTube.
- 75% of companies in the U.S sacrifice margins to offer customers exclusive discount vouchers.
- Among the companies involved in the survey, 64% were already offering or had plans to start offering exclusive discounts to their customers.
- Discount coupons and promotions are critical to many customer loyalty programs.
- 63% of these companies said they offer promotions throughout the year with 68% of their promotions being online, 39% being in-store promotions, and another 37% offered on mobile devices.
- Customers are increasingly shopping for discounts. This being the case and in an attempt to stop their customers from going elsewhere, business owners are more willing than ever to sacrifice margins to win customers.
The above findings do not seem to cause any surprise to many stakeholders in the online retail industry. In fact, they confirm a few facts as far as coupon marketing is involved.
What is discount fraud in coupon marketing?
Data from the findings indicate that in a bid to minimize discount fraud, businesses use email and passwords to verify customers. These verification methods are still highly vulnerable to fraud. For instance, an existing customer may use a different email address or a fake name to redeem a discount offer that is exclusive to new customers.
Also, the survey realized that a majority of companies that are not offering any exclusive promotions are doing so for two reasons. Firstly, these companies lack the necessary IT resources needed to track and monitor the offers, and secondly, there is the risk of unqualified individuals redeeming the discount offers (discount fraud). These companies, however, admit that if they knew that only qualified individuals would receive the discounts, then they would more likely offer exclusive discounts.
Loyalty programs is the best answer to discount fraud
How to Choose Forex Market Structure
The stock exchange is a monopolistic place to be in, and there’s actually only a single entity. By its very nature, it tends to be very monopolistic. You wish to examine what the stock exchange is about, and so as to compare it to the Forex market, you must determine what the stock exchange actually looks like or the way that it is running.
When you’re in a decentralized market, then you own a lot of alternatives to select from. It’s an unregulated market, meaning there is no trade commission overseeing transactions and there aren’t any restrictions on trade. If, as an example, the currency market is full of sellers from whom the specialists must buy but no prospective buyers are on the opposing side, the specialist is going to be made to purchase from the sellers or be in a scenario where they can’t sell a commodity that’s being sold off and falling in value. A significant part the currency market comes from the financial activities of organizations seeking foreign exchange to cover goods or solutions. It is the most liquid financial market in the world. Consequently, it was relatively static.
The Battle Over Forex Market Structure and How to Win It
Currency carry trade denotes the action of borrowing one currency which has a very low rate of interest so as to obtain another with a greater rate of interest. In the School of Pipsology, when it regards the particular approach to trade currencies, will be primarily discussing the spot forex marketplace. If you wish to sell your currencies, then you simply have to visit your bank and create the transaction. In place of actively participating in the industry purchasing and selling their currency, central banks instead utilize verbal intervention to influence the worth of their currency.
Forex Market Structure: the Ultimate Convenience!
If you are ready to put in the effort to comprehend and learn the complexities of this current market then the results will follow. It builds on the industry structure and doesn’t require any trading indicator. Knowing the forex market structure provides you an idea on the way in which the forex market trading works.
There are always likely to be differences between quotes based on who’s making that marketplace. Always keep in mind that the forex market is an enormous market. It is a decentralized area, and the people in the market can be categorized through a series of ladders. It’s no central market that would set the cost into one for particular currency pairs at any certain time at different currency dealers. There’s no unified or centrally cleared market for a lot of trades, and there’s very little cross-border regulation.
The Lost Secret of Forex Market Structure
Since it’s a centralized market, there is specialist which goes in between that may control the prices on the market. It has gotten so extended that nowadays there are zero reasons to negotiate in the parallel industry. Different financial markets have various behaviors. In regard to the volume of trading, it’s unquestionably the greatest market on the planet.