If there is one thing all businesses have in common, it’s the need to attract, engage, and keep customers coming back. Loyalty programs were born out of a need to do this when shop owners gave customers copper tokens that could be redeemed for products on future purchases. Rewards have evolved a lot since then and our more traditional view of rewards, including merchandise for consumer programs, emerged in the ’80s through printed catalogs (remember those?).
Fast-forward to today, when the breadth of loyalty rewards programs across numerous sectors includes vast online catalogs of merchandise, gift card rewards, cause-related redemptions, travel, payment with points, point transfers, and experiential rewards—all aimed at engendering customer loyalty. While the pursuit of rewards breadth can be enticing for loyalty marketers, breadth is not enough to drive customer engagement.
As featured in Loyalty 360
Keep up with an innovative mobile loyalty strategy
Loyalty—it’s in your customers’ pockets and at their fingertips. Smart brands are acquiring, engaging, and retaining customers with a loyalty strategy that harnesses the simplicity and readily-adopted nature of mobile. Here are some ideas on how leverage new integrations in mobile technology to personalize and enrich your customers’ journey.
Back in 1997 when I began to lead a loyalty project for Shoppers Drug Mart with the code name “ASA” (an acronym for Acetylsalicylic acid), little did I know that 20 years later we would be witnessing the evolution of Canada’s favorite and most successful loyalty program. This past week’s announcement of the merger of these two iconic loyalty programs makes great business sense for the brands and their customers. The Shoppers Optimum program was originally tested in Kingston, Halifax and Calgary over a 16-month period. Towards the end of the pilot in 1999, approval was granted to launch the Shoppers Optimum Program nationally.
Loyalty Programs are critical to fostering effective Customer Engagement strategies for brands. They enable Customer acquisition, onboarding, engagement, retention, and even win back a brand’s Customers. Many strategic brand marketers have made their Loyalty Programs a key business imperative and have invested significant financial and human capital against this important endeavor. We often see many Loyalty Programs underperform or even fail because of poor Program design and planning. When designing or renovating your Loyalty Program, marketers should avoid:
I’m a big fan of Formula One—it amazes me that hundreds of sensors are gathering information on the cars' performance in real time, sending it back to Milton Keynes, Maranello, Brackley or wherever, making it possible for crews to make changes on the fly to gain that 2/10s of a second per lap. It's incredible when you think about it.
In the same way, there are numerous sensors in the marketplace that provide input into a brand’s make-up and health. In our context, the understanding and interpretation of information from these sensors allows marketers to build strong, relevant and differentiated brands.
I had a chance to sit down with Kyle Davies, Director of Marketing Research at Bond, to talk about the recent release of the Automotive Brand Telemetry Report.