As the grandparents of successful loyalty programs, Canadian consultants and practitioners have these 3 learnings to share with the rest of the world.
Don’t follow your competitors down a rabbit hole. Make your loyalty program unique, interesting and profitable by avoiding these 10 mistakes.
ESG (Environmental, Social, and Governance) criteria within the design of loyalty program rewards and incentives promote sustainable and responsible behaviour among customers and align the company together with its members toward a common good. It is also key to help your loyalty program stand out, drive repeat purchases and advocacy among your customers.
Personalized promotions allow you to set relevant goals for your customers: not too high or low, but just right to drive the desired behaviour.
Generative Artificial Intelligence (AI) solutions, such as ChatGPT and Bard from Google, have democratized the world’s access to AI, both from a consumer and a brand standpoint. Enterprise-level Customer Relationship Management (CRM) solutions providers are seamlessly connecting the dots between data, MarTech, and customer interactions. As such, we marketers and loyalty program operators have no excuse but to leverage our proprietary data, such as transactions, customer contact data, and online behaviour, to personalize customer experiences.
When is it time to update your loyalty program? Don’t fall into the trap of updating your program just to be trendy. Updating the program needs to be done with careful consideration of member experience and communications, particularly if the changes are not to their benefit.
This guide will show you the imperatives to update your loyalty program to help you differentiate, drive customer engagement and business results, and future-proof your program.
You should only start a loyalty program when you can meet the following criteria: You can afford the investment, you need the customer data, the C-suite is aligned on the KPIs and the role of loyalty, and you have operational support throughout the organization
5. You want to engage your existing customers
Loyalty promotions are the best-kept secret of the loyalty industry. They
1. Typically do not count toward compliance days
2. Can be funded by vendors
3. Are highly measurable,
4. Drive traffic back into your store for future redemption
When you are sleep training a child, the education starts at the beginning of the night, rather than at wake-ups in the middle. Similarly, customer retention efforts start with proper onboarding at the beginning of the relationship.
In the aftermath of the bankruptcy and subsequent purchase of AIR MILES, Canada’s iconic coalition loyalty program, we must ask ourselves whether coalition loyalty is dead and will it be replaced by card-linked offers.
We are facing a significant gap in customer expectations versus reality in personalization, as 85% of brands believe they’re offering personalized experiences, while only 60% of customers seem to agree.