Today’s customer wants preferential treatment and is willing to pay a premium for it. In a recent study, 37% of customers are willing to pay more for a tier that unlocks preferential benefits. This percentage increases when looking at younger generations segments: 47% for Gen Z and 46% for millennials. And we can see the benefits resulting from paid loyalty, with winning examples such as Amazon Prime.
The one investment you need to make this year is...
Seriously. We're not just being biased here. Read on.
Want to personalize? 63% of marketers are struggling with data-driven personalization.
Want to solve for the huge churn from one transaction to the second and third transaction? Increasing retention by 5% can yield 25% to 95% increase in profits.
Want to create a shared, single view of customers across all business units?
As leading QSRs look to stay competitive, it’s time to do more with data. For too long, restaurants have used punch cards – first physical then moving into the digital realm with mobile campaigns – to reward loyal customers. While punch cards are a great engagement and repeat purchase tactic, they don’t collect the most important customer data. Your competition is beginning to invest in next gen retention strategies and technology to collect customer data to deliver personalized experiences across each customers’ journey. Once you have critical customer data in hand, you can look across verticals and adopt the tactics other brands are using to increase engagement and retention.
What happens when a "trend" becomes a "must-have"? Personalisation has been a buzzword in the loyalty marketing realm for the past couple of years, yet it's no longer something that is a nice to have; in the age of the empowered customer, brands need to better serve customers an individualised experience.
Data-driven marketing and loyalty analytics company Aimia Inc. (TSX: AIM) today announced that it has been named Loyalty Programme of the Year at the sixth edition of The Loyalty & Engagement Awards 2018, held in Singapore last Friday.
The Loyalty & Engagement Awards, organised by Marketing in 2013, honours the best loyalty marketing and engagement strategies in Asia Pacific. The show is the first of its kind to recognise marketing works in three key areas – loyalty, engagement and relationship marketing, focusing solely on the art of cultivating customer loyalty and engagement.
Following the success of their 2017 Bronze award for ‘Best Loyalty Program – Retailer’ category, Aimia has achieved even greater heights by clinching Loyalty Programme of the Year for PT Mitra Adiperkasa (MAP Group). This award was the top prize of the night and recognizes the loyalty programme that most successfully added value to its members, customers and partners which encouraged and achieved loyal behavior.
Take a moment to think about your most fulfilling relationship. Now, think about the qualities that make that relationship successful. I’m willing to bet that one of the qualities that makes that relationship so successful is each person’s willingness to listen. In this relationship-era where brands are looking to build authentic and long-lasting connections with consumers, it is imperative that they first… listen.
People think of personalization in many ways. Some, very simplistically: a first name on an email. Others, view it as much more: providing personalized experiences based on a holistic view of the customer. As companies continue to gather more data across more touchpoints, customers’ expectations are rising. They expect relevant, real-time, right-time, individualized communications. In order to deliver on these expectations, companies must begin by thinking strategically about their organizational structure as it relates to loyalty.
With the customer truly driving brand interactions, we as marketers need to talk to our customers individually and personably. Bringing this 1:1 communication to scale is the challenge, but it’s one in which we’re narrowing the gap each day. The following are ways in which advanced segmentation is bringing us closer to this goal.
This segment covers
- Removing data silos and using analytics to develop a holistic view of the customer
- How brands can evolve by focusing on the customer
- The 5 milestones to ideal in growing your highest value customers
- Identifying behavioral segments and evaluating customer value at each step of the customer journey
- Influencing consumer behavior through meaningful communication
Topics: SmartJourney, Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Personalization, Omni-channel | Digital, Segmentation, Customer Experience, Customer Engagement, Customer View, Loyalty Strategy, Loyalty Trends, Customer Data & Analytics