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RBTE 2014 - Throwing off Sparks - Reigniting Retail Loyalty

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Information about RBTE 2014 - Throwing off Sparks - Reigniting Retail Loyalty

Published on March 13, 2014

Author: MarkSage

Source: slideshare.net

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THROWING OFF SPARKS Reigniting Retail Loyalty Programs Mark Sage Loyalty Solutions & Strategy Director EMEA @sagema #sparks

Proprietary & Confidential. © 2013 Aimia. All Rights Reserved. • 4000 people, 20 countries, publicly listed company • 75 years experience, with specialism in retail, CPG, travel, banking • We run programs for ourselves as well as some of the world’s biggest brands. • Our Aeroplan and Nectar coalition programs are benchmarks for loyalty programs worldwide AIMIA GLOBALLY THE LARGEST PURE PLAY LOYALTY COMPANY Our Programs: Our Key Clients:

LOYATLY IS UBIQUTOUS… BUT HAS IT PLATEAUED Nielsen / Accenture 2013 Pulse Survey 60% said loyalty programs are available where they shopped 84% said more likely to visit those retailers Customer satisfaction fell by 1% Rate of loyalty rose by just 1% Customers willingness to recommend rose by just 2%

Proprietary & Confidential. © 2013 Aimia. All Rights Reserved. WHAT IS LOYALTY MARKETING? A strategic approach to marketing, in which a company focuses on acquiring, growing and retaining identifiable customers through repeated, measurable interactions

Proprietary & Confidential. © 2013 Aimia. All Rights Reserved. 5 Loyalty used to be a slow burn, building a stronger relationship one purchase at a time

Proprietary & Confidential. © 2013 Aimia. All Rights Reserved. 6 Now there is an explosion of customer interactions from the very start of a relationship

THROWING OFF SPARKS BEYOND THE TRANSACTION

LOOKING BEYOND THE TRANSACTION Is this the whole story?

LOOKING BEYOND THE TRANSACTION Overlaying loyalty data provides a different view

THE PURCHASE IS ONLY PART OF THE JOURNEY How did she find the offer? Did she like the product? #butter Do her friends like the product? Did she search for recipes? Does she “like” the brand? What did she make? Is she still buying it?

THE PURCHASE IS ONLY PART OF THE JOURNEY How did she find the offer? Did she like the product? #butter Do her friends like the product? Did she search for recipes? Does she “like” the brand? What did she make? Is she still buying it?

LOYALTY HAS TRADITIONALLY FOCUSED ON ONE INTERACTION

IT’S ABOUT EVERY TOUCH POINT BEING RELEVANT TO THE CUSTOMER. NOW IT’S ABOUT EVERY INTERACTION Loyalty is changing as it now means Pre Purchase, Purchase and Usage.

LOYALTY, INTERACTIONS AND SHOWROOMING 21% Consumers are M-shoppers, using their mobile in- store to assist their decisions 55% Consumers will sign-up to a store loyalty program to gain in-store benefits on their smartphone 60% More likely to buy a product while in- store when they find online reviews on their smartphone 31% Interested in interacting with a store on social networks like Facebook Aimia / Columbia University

BENEFITS OF ADDING INTERACTION DATA Creates new revenue streams Drives incremental revenue Leverages & validates investment in new channels Lowers cost to serve, while increasing value

REIGNITING LOYALTY MOTIVATING CONSUMERS TO SHARE

MOTIVATING CONSUMERS TO SHARE 1 Create Customer Utility & Relevance

CONSUMERS WANT EVERY TOUCH POINT TO BE USEFUL, RELEVANT AND SEAMLESS – IN SHORT, FRICTION FREE http://www.dotrising.com/2014/03/03/brands-must-engage-on-twitter http://www.conecomm.com/facebook-makes-it-easier-for-users-to-unlike-you/ 58% Consumers will stop following a brand who over- communicates (Cone Consumer) 53% Consumers will stop following a brand where content is irrelevant (Cone Consumer) 15% Twitter followers lost in first 3 weeks if not engaged with early (dotrising)

BRANDS STILL AREN’T GETTING IT RIGHT 19Presentation Title BUT ONLY BUT ONLY ANDAND 12% 86% 46% 28% 10% 44% Aimia, Four Futures

REWARDING INTERACTIONS - SUSTAINABLY All Searches Paid Search Clicks Revenue

MOTIVATING CONSUMERS TO SHARE INTERACTIONS 2 Build Trust through Transparency

CONSUMERS UNDERSTAND THE VALUE OF THEIR DATA Aimia, Four Futures

HOW HAPPY ARE YOU FOR COMPANIES TO USE INFORMATION ABOUT YOU IN THE FOLLOWING WAYS? TRANSPARENCY & PERMISSION ARE KEY 23Presentation Title

CONSUMERS DO TRUST SOME MORE THAN OTHERS 24Presentation Title REWARDS Percentage of consumers who say messages from this source are usually relevant

25 CUSTOMER ENGAGEMENT THROUGH TRANSPARENCY

INTERACTING SOCIALLY IS BASED ON TRUST Control TrustAdded Value Customers have information on what is collected, from where and for what purpose Customers understand there is a value exchange through recognition, rewards and offers Comes from confidence that data is held securely and used in mutually agreed way Transparency Customers have control over what they provide, how it is used and how it is shared

MOTIVATING CONSUMERS TO SHARE INTERACTIONS 3 Reinforce through Recognition

Utility, Relevance and Trust enables us to see more interactions but To recognize every check- in, product review, “like” or social interaction, we need a different way to reward people.

HELP ME BELONG SOCIAL CURRENCY MAKE ME FEEL SPECIAL ESTABLISHING RELATIONSHIPS IS INCREASINGLY ABOUT CREATING SOCIAL CURRENCY

RECOGNITION REWARDS CHANGE THE RELATIONSHIP WITH MEMBERS 30 FRIENDS RELATIONSHIP COMPANY TRANSACTION MONEY PIZZA

THE JOURNEY IS SOCIALProjectedRevenue Aimia, Four Futures

CONCLUSION Create Customer Utility & Relevance Build Trust through Transparency Reinforce sharing through Recognition Three powerful pillars you can build to use interaction data and create customer intimacy and long-term loyalty Reigniting retail loyalty involves capturing the sparks that customers throw off

THANK YOU Mark Sage Loyalty Solutions & Strategy Director EMEA @sagema Download our latest white paper http://goo.gl/gp7bMz

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