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The 4 Analytics Tools Marketers Need

Posted by Sara Galloway on Feb 11, 2019 4:51:36 PM

 

Successful brands use data to direct business strategy, optimise customer journeys and craft relevant content to build long-term relationships. The beauty of loyalty is it’s the most influential mechanism for capturing customer data while operating within data privacy regulations because the fundamental principle of loyalty is a customer willingly volunteers their data in exchange for benefits. As they opt-in to the terms of the program, marketers can serve up offers and content that helps emotionally bond the customer to the brand. However, many brands are struggling to pull insights from their data from which to build the strategy and campaigns to make their data come to life for them.

To start their data and insights strategy, marketers should consider their primary goals, likely personalisation, comprehensive view of customer, customer growth, churn reduction, etc., from which to establish KPIs that align with business needs. These KPIs go beyond loyalty program mechanics and metrics to affect all business units, from operations carrying out customer experience to merchandising determining the products to feature to marketing as a whole in making acquisition more cost-effective.

The point to remember is that the goal of both technology and strategies is to make data useful. This may require that some data is pared away or left unused. As such, the platforms and strategies that brands choose to adopt should focus on structuring data into unified, accessible views that will enable the team to design successful strategies.  

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Topics: Personalization, Loyalty Strategy, Loyalty Trends, Customer Data & Analytics

Trends Disrupting Loyalty: Individualized Loyalty

Posted by Erin Raese on Jan 29, 2019 4:47:00 PM

As personalization becomes more important to customers, marketers are searching for the holy grail of delivering individualized experiences to customers. Content, experiences, offers geared toward one person are significantly likely not only to increase customer spend, but their emotional bond with a brand.

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Topics: Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Customer Experience, Loyalty Strategy, Loyalty Trends

Trends Disrupting Loyalty: Lifestyle Approaches

Posted by Erin Raese on Jan 25, 2019 4:35:00 PM

To go beyond brand is a sure path to habituating your business within your customer’s daily lifestyle. And doing so requires you to think outside your main product and service offerings by stretching your content and offers and partnering with “extender” brands.

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Topics: Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Customer Experience, Loyalty Trends, Loyalty Strategy

Trends Disrupting Loyalty: Customer-Obsessed Marketing

Posted by Erin Raese on Jan 21, 2019 4:31:00 PM

Marketing across digital and physical channels today is not easy. There are so many aspects for marketers to consider and manage - from brand building to acquisition to retention, from mobile to social to communities, and from customer satisfaction to customer experience and more. Gartner does a great job of documenting all the marketing touchpoints in this daunting transit map:

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Topics: Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Customer Experience, Loyalty Trends, Loyalty Strategy

Trends Disrupting Loyalty: Leaving Discounts Behind

Posted by Erin Raese on Jan 17, 2019 3:48:00 PM

Unfortunately, we’ve all seen what can happen when our favorite brands fall into the discounting cycle. Every day is a sale that fails to differentiate the brand from the other stores that are all having 40% off, which continually erodes margins and can cut into the quality of the product at best, severe liability and disenfranchisement at worst. The discounting approach typically attracts the low value customers who are likely to jump to another brand as soon as a comparable sale comes around.

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Topics: Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Customer Experience, Loyalty Strategy, Loyalty Trends

Trends Disrupting Loyalty: Going Beyond Points

Posted by Erin Raese on Jan 14, 2019 3:44:00 PM

Make no mistake here – we’re not suggesting brands do away with points or get rid of currency entirely. You can make your program look like whatever you want it to. What we’re suggestion is thinking outside of points in terms of structuring your loyalty program. Many brands hesitate to implement a traditional program because of the liability that may be associated with points. This requires marketers to gain additional buy-in and expertise from their financial and legal teams. Or, some brands see points-based loyalty as another deep discount mechanism that lacks differentiation from one business to the next.

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Topics: Telco, Financial Institutions, CPG, Retail, Travel & Hospitality, Personalization, Customer Experience, Loyalty Strategy

New Year, New Loyalty

Posted by Erin Raese on Jan 4, 2019 10:45:24 PM

 

The one investment you need to make this year is...

Loyalty.

Seriously. We're not just being biased here. Read on.

Want to personalize63% 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? 

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Topics: Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Personalization, Omni-channel | Digital, Customer Experience, Customer View, Loyalty Strategy

5 Ways to Motivate Members with Real-Time Loyalty Statements

Posted by Reid Sorenson on Nov 14, 2018 1:41:45 PM

 

The loyalty statement has long been a staple for programs. However, the monthly direct mail statements of old are being replaced by real-time trackers and email statements that use the principles of human motivation to influence customer behavior.

Most people don’t know how many points they have with their favorite brand, therefore they’re not aware of how close they are to that next tier, next reward, next status.

Incorporating the right elements into your loyalty statement plays upon the motivational cues that drives member behavior and keeps them engaged with the brand, while continuing to build that one to one relationship with the customer through recognition. Every brand has its own design for statements, but the most effective statements leverage the psychological motivators behind goal setting to keep members hooked and driven toward moving to that next milestone.

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Topics: Telco, Travel & Hospitality, Retail, CPG, Financial Institutions, Omni-channel | Digital, Customer Experience, Customer Engagement, Loyalty Strategy, Loyalty Trends, Customer Data & Analytics

6 Trends Revolutionizing Loyalty

Posted by Erin Raese on Nov 12, 2018 6:56:32 AM

 

These days, what we think of as “loyalty” is ever-evolving. While the promise of burgeoning tech is catching a lot of the noise for the marketplace, there are underlying strategic tactics that are laying the true foundation for loyalty’s future.

 

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Topics: Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Personalization, Customer Experience, Customer Engagement, Loyalty Strategy, Loyalty Trends

5 Ways QSRs Can Increase Revenue and Margins for 2019

Posted by Erin Raese on Nov 5, 2018 7:47:10 AM

 

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.  

 

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Topics: Retail, Personalization, Omni-channel | Digital, Segmentation, Customer Experience, Customer View, Loyalty Strategy, Loyalty Trends