Coupons, Schmoopons: Top 3 Reasons Why Your Loyalty Program Should Be Digital

179753654_500pxMy parents. LOVE them.

And as I get older, what I used to think were my parents’ most cringe-worthy little habits have not only become more endearing, but have actually influenced my own behavior.

One example: their predatory instincts toward sniffing out a good deal.
I mean, these guys are masters. If in any given conversation I didn’t hear my dad mention a “coupon”, “two-fer”, or “special” when it came to buying something, I’d probably check his pulse. And while I may not discuss my own deals and steals with their same fervor, they have not only taught me the value of a dollar, but also how rewarding it can be when you spend your dollar wisely. Just like them, when I make purchases, I pay attention to things like rewards points and cash back. Maybe not just like them, while they are rooting through wallets looking for coupons, codes and companion cards, I am more apt to see my rewards digitally. With access to competitive deals online, I am a more informed consumer, and because of this, marketers have to work just a little bit harder to keep people like me coming back. And as mom and dad catch up to technology, marketers are going to have to hustle to catch up to them, too.

The Changing Landscape of Loyalty.

For years, companies from retailers to financial services have been raising the stakes where rewards programs are concerned. From “warehouse” membership discounts to frequent flyer miles, businesses have been fine tuning their brand loyalty strategies with laser-sharp focus. In fact, the loyalty market has grown so huge, and “rewards currency” has amassed such dizzying volume (over 3 billion in loyalty memberships in 2015), it is now an industry that creates jobs, new companies and technologies, and even some of the world’s most sought out networking events—all to differentiate offerings and keep brand loyalty alive. This unprecedented growth of loyalty as a business makes two things pretty clear:
1- The industry is here to stay.
2- If you haven’t integrated a loyalty program into your marketing strategy, now is a really good time to do that.

Rewards for Your Business.

With planning well underway for 2016, here are some quick reasons why you should be discussing your loyalty not as a “nice-to-have” initiative, but as a top line in your marketing strategy- especially where digital communication is concerned.

#1- WHY?

Retention vs. Acquisition. This isn’t new information, but may be more important now than ever. The effort and cost in customer acquisition is much higher than that for retention. The math on this is tricky, but according to Forrester, the cost of acquisition is 5x more than keeping a customer you already have. And as reported by Bain and Co., increasing customer retention by 5% can mean as much as a 70% increase in profit.  Even in an increasingly fickle world where jumping ship is as easy as clicking a button, identifying ways to keep people happy is still a great investment.

#2- WHAT?

Data. Data. Data. With the proliferation of digital content, it‘s becoming much easier to look around for better deals.
I wasn’t kidding when I said marketers have their work cut out for them.  According to Accenture, today’s buyers are 46% more likely to switch brands for different deals.
Where loyalty is concerned, it is less about brand image than the customer experience. The more relevant, timely and personal the experience is, the more likely you are to keep your consumer happy.  This makes data the single most important part of your loyalty program. If a business isn’t using their rewards system to deepen their understanding of customer behaviors, and using that data to optimize communications, then they are losing out on their investment, and their own potential rewards.

#3- HOW?

Digitize-Analyze-Optimize-Repeat. Again- this isn’t really new. You know what else isn’t new? Multi-channel communications. You know why?  Because the average customer (not my parents… we can cover them in a different conversation) has 3.5 active mobile devices. Reaching consumers across multiple devices are table stakes. But getting smarter about your data, analyzing what is prompting behaviors, and then using that information to make your message more relevant- that’s the good stuff. That’s where you can be “new”. Also important is creating the experience that is going to help you retrieve that data. So get creative to get data.

Your loyalty program is just as precious as any other initiative and deserves to be seen across multiple platforms. And don’t forget that even though we are living in a digital world, “you’ve got mail” is exciting again…when it’s about actual, printed mail.  Beyond these tips- take a quick look at some of the new technology that is proving cost effective, reliable and simple for consumers to use, which makes them a great tool to engage and track loyalty.

Belly – An actual “Loyalty Network” that enables rewards redemption and tracking to participating businesses, and integrates with email and social media to allow consumers to share rewards messaging.

Shopkick – This one has been around for a while and has “kicked “up a lot of momentum with well known brands and retailers like Target, Macy’s and Best Buy.  This handy little mobile app helps to engage and measure shopper behavior by alerting consumers with great deals when they are in a participating location.

Perka – PerFECT for people like the folks. Customers can “check in” with this app and the shop is notified.  When purchases are made, loyalty rewards are provided. Think of this one as a virtual punch card…and you don’t have to look for it in your wallet.

Getting to know your customers, knowing what motivates them, providing relevant or even real-time notifications with offers, and reaching them in the way that they prefer to receive communication is the new “book of coupons”. The opportunities to reach your customers and keep them loyal are there for the taking. And now that my folks are starting to use their new smart phones, I have a feeling that those dinners out might be a little less cringe-worthy when the bill comes.

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *

Coupons, Schmoopons: Top 3 Reasons Why Your Loyalty Program Should Be Digital

179753654_500pxMy parents. LOVE them.

And as I get older, what I used to think were my parents’ most cringe-worthy little habits have not only become more endearing, but have actually influenced my own behavior.

One example: their predatory instincts toward sniffing out a good deal.
I mean, these guys are masters. If in any given conversation I didn’t hear my dad mention a “coupon”, “two-fer”, or “special” when it came to buying something, I’d probably check his pulse. And while I may not discuss my own deals and steals with their same fervor, they have not only taught me the value of a dollar, but also how rewarding it can be when you spend your dollar wisely. Just like them, when I make purchases, I pay attention to things like rewards points and cash back. Maybe not just like them, while they are rooting through wallets looking for coupons, codes and companion cards, I am more apt to see my rewards digitally. With access to competitive deals online, I am a more informed consumer, and because of this, marketers have to work just a little bit harder to keep people like me coming back. And as mom and dad catch up to technology, marketers are going to have to hustle to catch up to them, too.

The Changing Landscape of Loyalty.

For years, companies from retailers to financial services have been raising the stakes where rewards programs are concerned. From “warehouse” membership discounts to frequent flyer miles, businesses have been fine tuning their brand loyalty strategies with laser-sharp focus. In fact, the loyalty market has grown so huge, and “rewards currency” has amassed such dizzying volume (over 3 billion in loyalty memberships in 2015), it is now an industry that creates jobs, new companies and technologies, and even some of the world’s most sought out networking events—all to differentiate offerings and keep brand loyalty alive. This unprecedented growth of loyalty as a business makes two things pretty clear:
1- The industry is here to stay.
2- If you haven’t integrated a loyalty program into your marketing strategy, now is a really good time to do that.

Rewards for Your Business.

With planning well underway for 2016, here are some quick reasons why you should be discussing your loyalty not as a “nice-to-have” initiative, but as a top line in your marketing strategy- especially where digital communication is concerned.

#1- WHY?

Retention vs. Acquisition. This isn’t new information, but may be more important now than ever. The effort and cost in customer acquisition is much higher than that for retention. The math on this is tricky, but according to Forrester, the cost of acquisition is 5x more than keeping a customer you already have. And as reported by Bain and Co., increasing customer retention by 5% can mean as much as a 70% increase in profit.  Even in an increasingly fickle world where jumping ship is as easy as clicking a button, identifying ways to keep people happy is still a great investment.

#2- WHAT?

Data. Data. Data. With the proliferation of digital content, it‘s becoming much easier to look around for better deals.
I wasn’t kidding when I said marketers have their work cut out for them.  According to Accenture, today’s buyers are 46% more likely to switch brands for different deals.
Where loyalty is concerned, it is less about brand image than the customer experience. The more relevant, timely and personal the experience is, the more likely you are to keep your consumer happy.  This makes data the single most important part of your loyalty program. If a business isn’t using their rewards system to deepen their understanding of customer behaviors, and using that data to optimize communications, then they are losing out on their investment, and their own potential rewards.

#3- HOW?

Digitize-Analyze-Optimize-Repeat. Again- this isn’t really new. You know what else isn’t new? Multi-channel communications. You know why?  Because the average customer (not my parents… we can cover them in a different conversation) has 3.5 active mobile devices. Reaching consumers across multiple devices are table stakes. But getting smarter about your data, analyzing what is prompting behaviors, and then using that information to make your message more relevant- that’s the good stuff. That’s where you can be “new”. Also important is creating the experience that is going to help you retrieve that data. So get creative to get data.

Your loyalty program is just as precious as any other initiative and deserves to be seen across multiple platforms. And don’t forget that even though we are living in a digital world, “you’ve got mail” is exciting again…when it’s about actual, printed mail.  Beyond these tips- take a quick look at some of the new technology that is proving cost effective, reliable and simple for consumers to use, which makes them a great tool to engage and track loyalty.

Belly – An actual “Loyalty Network” that enables rewards redemption and tracking to participating businesses, and integrates with email and social media to allow consumers to share rewards messaging.

Shopkick – This one has been around for a while and has “kicked “up a lot of momentum with well known brands and retailers like Target, Macy’s and Best Buy.  This handy little mobile app helps to engage and measure shopper behavior by alerting consumers with great deals when they are in a participating location.

Perka – PerFECT for people like the folks. Customers can “check in” with this app and the shop is notified.  When purchases are made, loyalty rewards are provided. Think of this one as a virtual punch card…and you don’t have to look for it in your wallet.

Getting to know your customers, knowing what motivates them, providing relevant or even real-time notifications with offers, and reaching them in the way that they prefer to receive communication is the new “book of coupons”. The opportunities to reach your customers and keep them loyal are there for the taking. And now that my folks are starting to use their new smart phones, I have a feeling that those dinners out might be a little less cringe-worthy when the bill comes.

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *

Coupons, Schmoopons: Top 3 Reasons Why Your Loyalty Program Should Be Digital

179753654_500pxMy parents. LOVE them.

And as I get older, what I used to think were my parents’ most cringe-worthy little habits have not only become more endearing, but have actually influenced my own behavior.

One example: their predatory instincts toward sniffing out a good deal.
I mean, these guys are masters. If in any given conversation I didn’t hear my dad mention a “coupon”, “two-fer”, or “special” when it came to buying something, I’d probably check his pulse. And while I may not discuss my own deals and steals with their same fervor, they have not only taught me the value of a dollar, but also how rewarding it can be when you spend your dollar wisely. Just like them, when I make purchases, I pay attention to things like rewards points and cash back. Maybe not just like them, while they are rooting through wallets looking for coupons, codes and companion cards, I am more apt to see my rewards digitally. With access to competitive deals online, I am a more informed consumer, and because of this, marketers have to work just a little bit harder to keep people like me coming back. And as mom and dad catch up to technology, marketers are going to have to hustle to catch up to them, too.

The Changing Landscape of Loyalty.

For years, companies from retailers to financial services have been raising the stakes where rewards programs are concerned. From “warehouse” membership discounts to frequent flyer miles, businesses have been fine tuning their brand loyalty strategies with laser-sharp focus. In fact, the loyalty market has grown so huge, and “rewards currency” has amassed such dizzying volume (over 3 billion in loyalty memberships in 2015), it is now an industry that creates jobs, new companies and technologies, and even some of the world’s most sought out networking events—all to differentiate offerings and keep brand loyalty alive. This unprecedented growth of loyalty as a business makes two things pretty clear:
1- The industry is here to stay.
2- If you haven’t integrated a loyalty program into your marketing strategy, now is a really good time to do that.

Rewards for Your Business.

With planning well underway for 2016, here are some quick reasons why you should be discussing your loyalty not as a “nice-to-have” initiative, but as a top line in your marketing strategy- especially where digital communication is concerned.

#1- WHY?

Retention vs. Acquisition. This isn’t new information, but may be more important now than ever. The effort and cost in customer acquisition is much higher than that for retention. The math on this is tricky, but according to Forrester, the cost of acquisition is 5x more than keeping a customer you already have. And as reported by Bain and Co., increasing customer retention by 5% can mean as much as a 70% increase in profit.  Even in an increasingly fickle world where jumping ship is as easy as clicking a button, identifying ways to keep people happy is still a great investment.

#2- WHAT?

Data. Data. Data. With the proliferation of digital content, it‘s becoming much easier to look around for better deals.
I wasn’t kidding when I said marketers have their work cut out for them.  According to Accenture, today’s buyers are 46% more likely to switch brands for different deals.
Where loyalty is concerned, it is less about brand image than the customer experience. The more relevant, timely and personal the experience is, the more likely you are to keep your consumer happy.  This makes data the single most important part of your loyalty program. If a business isn’t using their rewards system to deepen their understanding of customer behaviors, and using that data to optimize communications, then they are losing out on their investment, and their own potential rewards.

#3- HOW?

Digitize-Analyze-Optimize-Repeat. Again- this isn’t really new. You know what else isn’t new? Multi-channel communications. You know why?  Because the average customer (not my parents… we can cover them in a different conversation) has 3.5 active mobile devices. Reaching consumers across multiple devices are table stakes. But getting smarter about your data, analyzing what is prompting behaviors, and then using that information to make your message more relevant- that’s the good stuff. That’s where you can be “new”. Also important is creating the experience that is going to help you retrieve that data. So get creative to get data.

Your loyalty program is just as precious as any other initiative and deserves to be seen across multiple platforms. And don’t forget that even though we are living in a digital world, “you’ve got mail” is exciting again…when it’s about actual, printed mail.  Beyond these tips- take a quick look at some of the new technology that is proving cost effective, reliable and simple for consumers to use, which makes them a great tool to engage and track loyalty.

Belly – An actual “Loyalty Network” that enables rewards redemption and tracking to participating businesses, and integrates with email and social media to allow consumers to share rewards messaging.

Shopkick – This one has been around for a while and has “kicked “up a lot of momentum with well known brands and retailers like Target, Macy’s and Best Buy.  This handy little mobile app helps to engage and measure shopper behavior by alerting consumers with great deals when they are in a participating location.

Perka – PerFECT for people like the folks. Customers can “check in” with this app and the shop is notified.  When purchases are made, loyalty rewards are provided. Think of this one as a virtual punch card…and you don’t have to look for it in your wallet.

Getting to know your customers, knowing what motivates them, providing relevant or even real-time notifications with offers, and reaching them in the way that they prefer to receive communication is the new “book of coupons”. The opportunities to reach your customers and keep them loyal are there for the taking. And now that my folks are starting to use their new smart phones, I have a feeling that those dinners out might be a little less cringe-worthy when the bill comes.

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *

Coupons, Schmoopons: Top 3 Reasons Why Your Loyalty Program Should Be Digital

179753654_500pxMy parents. LOVE them.

And as I get older, what I used to think were my parents’ most cringe-worthy little habits have not only become more endearing, but have actually influenced my own behavior.

One example: their predatory instincts toward sniffing out a good deal.
I mean, these guys are masters. If in any given conversation I didn’t hear my dad mention a “coupon”, “two-fer”, or “special” when it came to buying something, I’d probably check his pulse. And while I may not discuss my own deals and steals with their same fervor, they have not only taught me the value of a dollar, but also how rewarding it can be when you spend your dollar wisely. Just like them, when I make purchases, I pay attention to things like rewards points and cash back. Maybe not just like them, while they are rooting through wallets looking for coupons, codes and companion cards, I am more apt to see my rewards digitally. With access to competitive deals online, I am a more informed consumer, and because of this, marketers have to work just a little bit harder to keep people like me coming back. And as mom and dad catch up to technology, marketers are going to have to hustle to catch up to them, too.

The Changing Landscape of Loyalty.

For years, companies from retailers to financial services have been raising the stakes where rewards programs are concerned. From “warehouse” membership discounts to frequent flyer miles, businesses have been fine tuning their brand loyalty strategies with laser-sharp focus. In fact, the loyalty market has grown so huge, and “rewards currency” has amassed such dizzying volume (over 3 billion in loyalty memberships in 2015), it is now an industry that creates jobs, new companies and technologies, and even some of the world’s most sought out networking events—all to differentiate offerings and keep brand loyalty alive. This unprecedented growth of loyalty as a business makes two things pretty clear:
1- The industry is here to stay.
2- If you haven’t integrated a loyalty program into your marketing strategy, now is a really good time to do that.

Rewards for Your Business.

With planning well underway for 2016, here are some quick reasons why you should be discussing your loyalty not as a “nice-to-have” initiative, but as a top line in your marketing strategy- especially where digital communication is concerned.

#1- WHY?

Retention vs. Acquisition. This isn’t new information, but may be more important now than ever. The effort and cost in customer acquisition is much higher than that for retention. The math on this is tricky, but according to Forrester, the cost of acquisition is 5x more than keeping a customer you already have. And as reported by Bain and Co., increasing customer retention by 5% can mean as much as a 70% increase in profit.  Even in an increasingly fickle world where jumping ship is as easy as clicking a button, identifying ways to keep people happy is still a great investment.

#2- WHAT?

Data. Data. Data. With the proliferation of digital content, it‘s becoming much easier to look around for better deals.
I wasn’t kidding when I said marketers have their work cut out for them.  According to Accenture, today’s buyers are 46% more likely to switch brands for different deals.
Where loyalty is concerned, it is less about brand image than the customer experience. The more relevant, timely and personal the experience is, the more likely you are to keep your consumer happy.  This makes data the single most important part of your loyalty program. If a business isn’t using their rewards system to deepen their understanding of customer behaviors, and using that data to optimize communications, then they are losing out on their investment, and their own potential rewards.

#3- HOW?

Digitize-Analyze-Optimize-Repeat. Again- this isn’t really new. You know what else isn’t new? Multi-channel communications. You know why?  Because the average customer (not my parents… we can cover them in a different conversation) has 3.5 active mobile devices. Reaching consumers across multiple devices are table stakes. But getting smarter about your data, analyzing what is prompting behaviors, and then using that information to make your message more relevant- that’s the good stuff. That’s where you can be “new”. Also important is creating the experience that is going to help you retrieve that data. So get creative to get data.

Your loyalty program is just as precious as any other initiative and deserves to be seen across multiple platforms. And don’t forget that even though we are living in a digital world, “you’ve got mail” is exciting again…when it’s about actual, printed mail.  Beyond these tips- take a quick look at some of the new technology that is proving cost effective, reliable and simple for consumers to use, which makes them a great tool to engage and track loyalty.

Belly – An actual “Loyalty Network” that enables rewards redemption and tracking to participating businesses, and integrates with email and social media to allow consumers to share rewards messaging.

Shopkick – This one has been around for a while and has “kicked “up a lot of momentum with well known brands and retailers like Target, Macy’s and Best Buy.  This handy little mobile app helps to engage and measure shopper behavior by alerting consumers with great deals when they are in a participating location.

Perka – PerFECT for people like the folks. Customers can “check in” with this app and the shop is notified.  When purchases are made, loyalty rewards are provided. Think of this one as a virtual punch card…and you don’t have to look for it in your wallet.

Getting to know your customers, knowing what motivates them, providing relevant or even real-time notifications with offers, and reaching them in the way that they prefer to receive communication is the new “book of coupons”. The opportunities to reach your customers and keep them loyal are there for the taking. And now that my folks are starting to use their new smart phones, I have a feeling that those dinners out might be a little less cringe-worthy when the bill comes.

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *

Coupons, Schmoopons: Top 3 Reasons Why Your Loyalty Program Should Be Digital

179753654_500pxMy parents. LOVE them.

And as I get older, what I used to think were my parents’ most cringe-worthy little habits have not only become more endearing, but have actually influenced my own behavior.

One example: their predatory instincts toward sniffing out a good deal.
I mean, these guys are masters. If in any given conversation I didn’t hear my dad mention a “coupon”, “two-fer”, or “special” when it came to buying something, I’d probably check his pulse. And while I may not discuss my own deals and steals with their same fervor, they have not only taught me the value of a dollar, but also how rewarding it can be when you spend your dollar wisely. Just like them, when I make purchases, I pay attention to things like rewards points and cash back. Maybe not just like them, while they are rooting through wallets looking for coupons, codes and companion cards, I am more apt to see my rewards digitally. With access to competitive deals online, I am a more informed consumer, and because of this, marketers have to work just a little bit harder to keep people like me coming back. And as mom and dad catch up to technology, marketers are going to have to hustle to catch up to them, too.

The Changing Landscape of Loyalty.

For years, companies from retailers to financial services have been raising the stakes where rewards programs are concerned. From “warehouse” membership discounts to frequent flyer miles, businesses have been fine tuning their brand loyalty strategies with laser-sharp focus. In fact, the loyalty market has grown so huge, and “rewards currency” has amassed such dizzying volume (over 3 billion in loyalty memberships in 2015), it is now an industry that creates jobs, new companies and technologies, and even some of the world’s most sought out networking events—all to differentiate offerings and keep brand loyalty alive. This unprecedented growth of loyalty as a business makes two things pretty clear:
1- The industry is here to stay.
2- If you haven’t integrated a loyalty program into your marketing strategy, now is a really good time to do that.

Rewards for Your Business.

With planning well underway for 2016, here are some quick reasons why you should be discussing your loyalty not as a “nice-to-have” initiative, but as a top line in your marketing strategy- especially where digital communication is concerned.

#1- WHY?

Retention vs. Acquisition. This isn’t new information, but may be more important now than ever. The effort and cost in customer acquisition is much higher than that for retention. The math on this is tricky, but according to Forrester, the cost of acquisition is 5x more than keeping a customer you already have. And as reported by Bain and Co., increasing customer retention by 5% can mean as much as a 70% increase in profit.  Even in an increasingly fickle world where jumping ship is as easy as clicking a button, identifying ways to keep people happy is still a great investment.

#2- WHAT?

Data. Data. Data. With the proliferation of digital content, it‘s becoming much easier to look around for better deals.
I wasn’t kidding when I said marketers have their work cut out for them.  According to Accenture, today’s buyers are 46% more likely to switch brands for different deals.
Where loyalty is concerned, it is less about brand image than the customer experience. The more relevant, timely and personal the experience is, the more likely you are to keep your consumer happy.  This makes data the single most important part of your loyalty program. If a business isn’t using their rewards system to deepen their understanding of customer behaviors, and using that data to optimize communications, then they are losing out on their investment, and their own potential rewards.

#3- HOW?

Digitize-Analyze-Optimize-Repeat. Again- this isn’t really new. You know what else isn’t new? Multi-channel communications. You know why?  Because the average customer (not my parents… we can cover them in a different conversation) has 3.5 active mobile devices. Reaching consumers across multiple devices are table stakes. But getting smarter about your data, analyzing what is prompting behaviors, and then using that information to make your message more relevant- that’s the good stuff. That’s where you can be “new”. Also important is creating the experience that is going to help you retrieve that data. So get creative to get data.

Your loyalty program is just as precious as any other initiative and deserves to be seen across multiple platforms. And don’t forget that even though we are living in a digital world, “you’ve got mail” is exciting again…when it’s about actual, printed mail.  Beyond these tips- take a quick look at some of the new technology that is proving cost effective, reliable and simple for consumers to use, which makes them a great tool to engage and track loyalty.

Belly – An actual “Loyalty Network” that enables rewards redemption and tracking to participating businesses, and integrates with email and social media to allow consumers to share rewards messaging.

Shopkick – This one has been around for a while and has “kicked “up a lot of momentum with well known brands and retailers like Target, Macy’s and Best Buy.  This handy little mobile app helps to engage and measure shopper behavior by alerting consumers with great deals when they are in a participating location.

Perka – PerFECT for people like the folks. Customers can “check in” with this app and the shop is notified.  When purchases are made, loyalty rewards are provided. Think of this one as a virtual punch card…and you don’t have to look for it in your wallet.

Getting to know your customers, knowing what motivates them, providing relevant or even real-time notifications with offers, and reaching them in the way that they prefer to receive communication is the new “book of coupons”. The opportunities to reach your customers and keep them loyal are there for the taking. And now that my folks are starting to use their new smart phones, I have a feeling that those dinners out might be a little less cringe-worthy when the bill comes.

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *

Coupons, Schmoopons: Top 3 Reasons Why Your Loyalty Program Should Be Digital

179753654_500pxMy parents. LOVE them.

And as I get older, what I used to think were my parents’ most cringe-worthy little habits have not only become more endearing, but have actually influenced my own behavior.

One example: their predatory instincts toward sniffing out a good deal.
I mean, these guys are masters. If in any given conversation I didn’t hear my dad mention a “coupon”, “two-fer”, or “special” when it came to buying something, I’d probably check his pulse. And while I may not discuss my own deals and steals with their same fervor, they have not only taught me the value of a dollar, but also how rewarding it can be when you spend your dollar wisely. Just like them, when I make purchases, I pay attention to things like rewards points and cash back. Maybe not just like them, while they are rooting through wallets looking for coupons, codes and companion cards, I am more apt to see my rewards digitally. With access to competitive deals online, I am a more informed consumer, and because of this, marketers have to work just a little bit harder to keep people like me coming back. And as mom and dad catch up to technology, marketers are going to have to hustle to catch up to them, too.

The Changing Landscape of Loyalty.

For years, companies from retailers to financial services have been raising the stakes where rewards programs are concerned. From “warehouse” membership discounts to frequent flyer miles, businesses have been fine tuning their brand loyalty strategies with laser-sharp focus. In fact, the loyalty market has grown so huge, and “rewards currency” has amassed such dizzying volume (over 3 billion in loyalty memberships in 2015), it is now an industry that creates jobs, new companies and technologies, and even some of the world’s most sought out networking events—all to differentiate offerings and keep brand loyalty alive. This unprecedented growth of loyalty as a business makes two things pretty clear:
1- The industry is here to stay.
2- If you haven’t integrated a loyalty program into your marketing strategy, now is a really good time to do that.

Rewards for Your Business.

With planning well underway for 2016, here are some quick reasons why you should be discussing your loyalty not as a “nice-to-have” initiative, but as a top line in your marketing strategy- especially where digital communication is concerned.

#1- WHY?

Retention vs. Acquisition. This isn’t new information, but may be more important now than ever. The effort and cost in customer acquisition is much higher than that for retention. The math on this is tricky, but according to Forrester, the cost of acquisition is 5x more than keeping a customer you already have. And as reported by Bain and Co., increasing customer retention by 5% can mean as much as a 70% increase in profit.  Even in an increasingly fickle world where jumping ship is as easy as clicking a button, identifying ways to keep people happy is still a great investment.

#2- WHAT?

Data. Data. Data. With the proliferation of digital content, it‘s becoming much easier to look around for better deals.
I wasn’t kidding when I said marketers have their work cut out for them.  According to Accenture, today’s buyers are 46% more likely to switch brands for different deals.
Where loyalty is concerned, it is less about brand image than the customer experience. The more relevant, timely and personal the experience is, the more likely you are to keep your consumer happy.  This makes data the single most important part of your loyalty program. If a business isn’t using their rewards system to deepen their understanding of customer behaviors, and using that data to optimize communications, then they are losing out on their investment, and their own potential rewards.

#3- HOW?

Digitize-Analyze-Optimize-Repeat. Again- this isn’t really new. You know what else isn’t new? Multi-channel communications. You know why?  Because the average customer (not my parents… we can cover them in a different conversation) has 3.5 active mobile devices. Reaching consumers across multiple devices are table stakes. But getting smarter about your data, analyzing what is prompting behaviors, and then using that information to make your message more relevant- that’s the good stuff. That’s where you can be “new”. Also important is creating the experience that is going to help you retrieve that data. So get creative to get data.

Your loyalty program is just as precious as any other initiative and deserves to be seen across multiple platforms. And don’t forget that even though we are living in a digital world, “you’ve got mail” is exciting again…when it’s about actual, printed mail.  Beyond these tips- take a quick look at some of the new technology that is proving cost effective, reliable and simple for consumers to use, which makes them a great tool to engage and track loyalty.

Belly – An actual “Loyalty Network” that enables rewards redemption and tracking to participating businesses, and integrates with email and social media to allow consumers to share rewards messaging.

Shopkick – This one has been around for a while and has “kicked “up a lot of momentum with well known brands and retailers like Target, Macy’s and Best Buy.  This handy little mobile app helps to engage and measure shopper behavior by alerting consumers with great deals when they are in a participating location.

Perka – PerFECT for people like the folks. Customers can “check in” with this app and the shop is notified.  When purchases are made, loyalty rewards are provided. Think of this one as a virtual punch card…and you don’t have to look for it in your wallet.

Getting to know your customers, knowing what motivates them, providing relevant or even real-time notifications with offers, and reaching them in the way that they prefer to receive communication is the new “book of coupons”. The opportunities to reach your customers and keep them loyal are there for the taking. And now that my folks are starting to use their new smart phones, I have a feeling that those dinners out might be a little less cringe-worthy when the bill comes.

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Coupons, Schmoopons: Top 3 Reasons Why Your Loyalty Program Should Be Digital

179753654_500pxMy parents. LOVE them.

And as I get older, what I used to think were my parents’ most cringe-worthy little habits have not only become more endearing, but have actually influenced my own behavior.

One example: their predatory instincts toward sniffing out a good deal.
I mean, these guys are masters. If in any given conversation I didn’t hear my dad mention a “coupon”, “two-fer”, or “special” when it came to buying something, I’d probably check his pulse. And while I may not discuss my own deals and steals with their same fervor, they have not only taught me the value of a dollar, but also how rewarding it can be when you spend your dollar wisely. Just like them, when I make purchases, I pay attention to things like rewards points and cash back. Maybe not just like them, while they are rooting through wallets looking for coupons, codes and companion cards, I am more apt to see my rewards digitally. With access to competitive deals online, I am a more informed consumer, and because of this, marketers have to work just a little bit harder to keep people like me coming back. And as mom and dad catch up to technology, marketers are going to have to hustle to catch up to them, too.

The Changing Landscape of Loyalty.

For years, companies from retailers to financial services have been raising the stakes where rewards programs are concerned. From “warehouse” membership discounts to frequent flyer miles, businesses have been fine tuning their brand loyalty strategies with laser-sharp focus. In fact, the loyalty market has grown so huge, and “rewards currency” has amassed such dizzying volume (over 3 billion in loyalty memberships in 2015), it is now an industry that creates jobs, new companies and technologies, and even some of the world’s most sought out networking events—all to differentiate offerings and keep brand loyalty alive. This unprecedented growth of loyalty as a business makes two things pretty clear:
1- The industry is here to stay.
2- If you haven’t integrated a loyalty program into your marketing strategy, now is a really good time to do that.

Rewards for Your Business.

With planning well underway for 2016, here are some quick reasons why you should be discussing your loyalty not as a “nice-to-have” initiative, but as a top line in your marketing strategy- especially where digital communication is concerned.

#1- WHY?

Retention vs. Acquisition. This isn’t new information, but may be more important now than ever. The effort and cost in customer acquisition is much higher than that for retention. The math on this is tricky, but according to Forrester, the cost of acquisition is 5x more than keeping a customer you already have. And as reported by Bain and Co., increasing customer retention by 5% can mean as much as a 70% increase in profit.  Even in an increasingly fickle world where jumping ship is as easy as clicking a button, identifying ways to keep people happy is still a great investment.

#2- WHAT?

Data. Data. Data. With the proliferation of digital content, it‘s becoming much easier to look around for better deals.
I wasn’t kidding when I said marketers have their work cut out for them.  According to Accenture, today’s buyers are 46% more likely to switch brands for different deals.
Where loyalty is concerned, it is less about brand image than the customer experience. The more relevant, timely and personal the experience is, the more likely you are to keep your consumer happy.  This makes data the single most important part of your loyalty program. If a business isn’t using their rewards system to deepen their understanding of customer behaviors, and using that data to optimize communications, then they are losing out on their investment, and their own potential rewards.

#3- HOW?

Digitize-Analyze-Optimize-Repeat. Again- this isn’t really new. You know what else isn’t new? Multi-channel communications. You know why?  Because the average customer (not my parents… we can cover them in a different conversation) has 3.5 active mobile devices. Reaching consumers across multiple devices are table stakes. But getting smarter about your data, analyzing what is prompting behaviors, and then using that information to make your message more relevant- that’s the good stuff. That’s where you can be “new”. Also important is creating the experience that is going to help you retrieve that data. So get creative to get data.

Your loyalty program is just as precious as any other initiative and deserves to be seen across multiple platforms. And don’t forget that even though we are living in a digital world, “you’ve got mail” is exciting again…when it’s about actual, printed mail.  Beyond these tips- take a quick look at some of the new technology that is proving cost effective, reliable and simple for consumers to use, which makes them a great tool to engage and track loyalty.

Belly – An actual “Loyalty Network” that enables rewards redemption and tracking to participating businesses, and integrates with email and social media to allow consumers to share rewards messaging.

Shopkick – This one has been around for a while and has “kicked “up a lot of momentum with well known brands and retailers like Target, Macy’s and Best Buy.  This handy little mobile app helps to engage and measure shopper behavior by alerting consumers with great deals when they are in a participating location.

Perka – PerFECT for people like the folks. Customers can “check in” with this app and the shop is notified.  When purchases are made, loyalty rewards are provided. Think of this one as a virtual punch card…and you don’t have to look for it in your wallet.

Getting to know your customers, knowing what motivates them, providing relevant or even real-time notifications with offers, and reaching them in the way that they prefer to receive communication is the new “book of coupons”. The opportunities to reach your customers and keep them loyal are there for the taking. And now that my folks are starting to use their new smart phones, I have a feeling that those dinners out might be a little less cringe-worthy when the bill comes.

How can we help you make change?

There are no comments yet. Be the first and leave a response!

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