A question of loyalty and reinventing WeWork: Your Marketing Week
Every Friday afternoon, I look at the key stories of the week, offering my thoughts on what they mean for you and the industry. From the role of loyalty to WeWork’s repositioning and Facebook’s new CMO, it has been a busy week. Here is my take.
A question of loyalty
Loyalty has become a point of contention over the past 10 years. There are plenty in the Ehrenberg Bass camp that question the notion of customer retention, while the 2010 book How Brands Grow dismissed the importance of loyal customers in generating sales growth.
Despite evidence to back up this assertion, brands have continued to invest in initiatives to encourage customers back for more. But the discussion over whether this is the right strategy has intensified this year. The shock to the system caused by the pandemic has thrown up all manner of considerations and fresh debate.
