Customer loyalty is rapidly changing. As comparison shopping tools make it easier than ever to find deals, consumers are re-evaluating their relationships with brand loyalty programs. No longer satisfied with basic spend-more-save-more programs, consumers are asking brands to supplement transactional rewards with those that are more experiential, including free samples, invitations to exclusive events, and access to special services.
For their part, brands that are spending more to fund loyalty programs are taking new looks at what additional benefits the platforms can bring them. At the top of the list is the wealth of customer data that loyalty platforms generate. When woven into overall customer journeys, loyalty data can reveal opportunities for quick sales wins, and for longer-term engagement strategies.
Some brands are also making Loyalty a centerpiece of their Voice of the Customer programs, as they seek to combine all channels to get a true 360 view of how to best engage the customer.
New to loyalty programs? Click here to read our blog for beginners.
For a quick test of whether you are getting the most out of your loyalty program, OSF Digital Strategy has come up with a 5-question checklist:
Please answer yes or no.
Hint: If you answered “No” to any of the questions above, you need a loyalty tune-up in order to maximize value for your customers and for your business.
What you need to review:
Like all other marketing programs, loyalty needs proper care and maintenance in order to deliver a strong ROI. With a few small upgrades, you can have your loyalty program delivering significant improvements for your customers and your brand.
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Robin Kamen is a senior consultant of OSF Digital Strategy. She is a digital marketing and strategy leader with experience building global brands and driving customer engagement and ROI across many verticals.
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