It used to be that loyalty programs were pretty easy to design. Focus on rewarding the top tier and call it a day. But customers and buying behaviors have evolved, and it’s time that marketers changed their ways, lest they alienate the very customers they seek to reward. Here are just a few trouble spots [...]
Rite Aid starts 2012 off with some nice additions to their Wellness+ loyalty program, introducing an online coupon management tool starting January 1, 2012, that allows Wellness+ members to load, manage and redeem coupons via their Wellness+ card. Plus, silver members can now choose new Wellness rewards of their choice, including a gym membership or a health/fitness magazine [...]
A 2010 report from industry research firm CSO Insights says that more than 75 percent of U.S. firms have implemented CRM strategies to accelerate top-line growth, improve the customer experience and boost the productivity of frontline workers. But success with CRM initiatives remains elusive for many. A 2010 study conducted by Asuret discovered a 47-percent failure rate of CRM systems.
Six factors loom critical in any loyalty effort:
1. Successful loyalty plans are strategic
2. Tradeoffs are required to attain financial goals
3. Objectives must drive program strategy
4. Identify how program design delivers value
5. Leverage best practices of industry leaders
6. Align loyalty programs with CRM.
According to “The Leaders in Loyalty: Feeling the Love from the Loyalty Club” is the latest research from the CMO Council, tapping into the insights of over 600 marketers, and gaining first hand perspective from the recipients of these programs in an audit of over 700 consumers, most marketers (61%) believe that loyalty program participants [...]
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One of the world’s most successful loyalty programs has a home across the pond, where Tesco PLC – the world’s third-largest retailer – is celebrating the 15th anniversary of its ubiquitous Clubcard. The U.K. supermarket giant is extending 2-for-1 rewards offers and celebrating with a variety of “birthday presents” that include goodies at restaurants, hotels [...]
As retailers continue to evolve loyalty programs to meet the changing needs of today’s consumer, channel integration is more important than ever; but data is key. A recent survey conducted by the Aberdeen Group of 100 retailers revealed the greatest challenge companies are facing today is the inability to capture customer data. Chris Cunnane, senior [...]