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Last year, most loyalty marketers predicted that points for perks would continue to engage consumers and drive retail sales. They were right.
It’s important to note, though, that many loyalty programs of the last year look different from what they may be in the coming 12 months. Loyalty programs have always been fueled by member purchase data. But this year, program drivers will include social influence data, channel-specific analytics and segmentation more than ever before.
“Personalization” is an of-the-moment buzz word because it works—and will continue to work in the future. Still, we recommend personalization only to companies ready to take the time to mine the data required to get it right. Loyal customers are your most valuable audience. And you could risk driving them away if you don’t engage loyal customers with a program that feels like it was created just for them.
Before we begin a deep data analysis for clients looking to enrich their loyalty strategies, we almost always remind them to take a step back and define their loyalty program objectives. We begin by guiding them through goal-setting—are they looking to increase engagement? Foster retention? Increase frequency? Leverage the value of digital influencers or all of the above? Once we know for sure, we can dig in with extensive analysis of member behavior, social influence and potential ambassador opportunities. Then, we develop a strategy and establish KPI’s that will help us measure performance down the road.
If you’ve been through this process, you know it can be tricky to correlate social influence to traditional purchase data. But if you get there, the “magic” can happen once you examine the broader data set through the lens of each of your goals. That’s when you begin to understand the real opportunity, and can develop meaningful and engaging campaigns across all channels. At this point, you’ll be armed and ready to develop campaign messaging with teeth—to deepen your loyalty members’ engagement and drive revenue.
We helped Shoe Carnival increase their Shoe Perks’ membership by nearly 1500%. Get the whole story here.
[Here is a link to the SC case study]