[Source: The Irish Times] What supermarkets really want to know are those things that are specific to each shopper who walks through their doors. Because that is how they can make more money. This is where loyalty programs come in. While they are dressed up as consumer-friendly clubs that help people to save money, the [...]
Success with CRM initiatives remains elusive for many. A 2010 study conducted by Asuret discovered a 47% failure rate of CRM systems. Compare your CRM approach with this list of the five best practices to uncover weak points and opportunities to improve the odds of your CRM success. Is your company in need [...]
As consumers, we’re there every week, sometimes even more often that that, getting our gallon of milk, loaf of bread and all the other things that we need to stock the pantry. And while some might think that grocers have it relatively easy when it comes to keeping loyal customers, the fact is, the battle [...]
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 [...]
The economy is tough. Budgets are tight. And how many of us are still expected to show significant results with less dollars? It’s a story being repeated across marketing departments everywhere. So, how do you do more with less? Start with your loyalty program.
Chances are when you first considered the implementation of a loyalty program, you might have thought it was a one-time deal. Maybe in 12-16 weeks, your program would launch and then you’d move on to the next company initiative. If that’s your thinking, it’s time for a reality check.
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.
Excellent business operators collect names, titles, addresses – all sorts of data on customers and prospects. Collect information on just 10 buyers a day and, by the end of a year, you have thousands of potential buyers and repeat buyers on your list. But after a year or two, it’s time to audit all that [...]