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Why It Might Be Time to Switch from a Loyalty Program to a Membership Model | The Sterling Woods Group

Why It Might Be Time to Switch from a Loyalty Program to a Membership Model

Elvis Presley. The Beatles. Beyoncé. These performers have done more than sing songs; they’ve built a powerful fandom. For their followers, it’s not just about the music. It’s about the persona behind that music. This phenomenon speaks to the crucial difference between loyalty programs and memberships. Loyalty programs make you feel nice about getting a …

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The Shift to Buying Local, and How Businesses Can Adapt to the Trend | The Sterling Woods Group

The Shift to Buying Local, and How Businesses Can Adapt to the Trend

The pandemic has exposed many hidden vulnerabilities in the world of business. We’ve seen hundred-year-old brands like Neiman Marcus file for bankruptcy. Supply chains across industries have been upended. And even Zoom, which overall has fared well during the pandemic, came under fire for lax security measures and concerns around “Zoom-bombing.” In all of the …

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A Peaceful Coexistence Between Direct-to-Consumer and Brick-and-Mortar Brands | The Sterling Woods Group

A Peaceful Coexistence Between Direct-to-Consumer and Brick-and-Mortar Brands

The COVID-19 pandemic has affected all businesses, but it’s hit retail particularly hard. Since March, stalwart brands like J. Crew, Neiman Marcus, and JC Penney have declared bankruptcy. However, even prior to COVID, these brands were in trouble. Direct-to-consumer brands (DTCs)—such as Casper, Warby Parker, and Everlane—have been moving in on traditional retailers’ turf for …

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Finding the Right Pockets of Opportunity in the New Normal | The Sterling Woods Group

Finding the Right Pockets of Opportunity in the New Normal

The coronavirus pandemic has changed the definition of “business as usual.” Regardless of industry or geographic location, the entire world has experienced tremendous disruption. We’ve all had to adjust overnight and remain nimble as we’ve seen health guidance, government restrictions, and consumer attitudes shift on a daily basis. Now that the turbulent time of dealing …

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How Leading Companies Think About Recurring Revenue | The Sterling Woods Group

How Leading Companies Think About Recurring Revenue

We’ve been extolling the virtues of building a business with recurring revenue opportunities for years. But over the past few months, the importance of establishing a way to steadily generate income has become all the more obvious.  A report from Zuora finds that from March 1-May 31, 2020, 50 percent of all subscription-based companies maintained …

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