Welcome to today's roundup of articles, news, and insights about customer loyalty, retention, and rewards programs. This week we are drilling into two new studies that will help marketers understand the new-era of brand loyalty and allow retailers to really get personal with their customers. But first, a new article from Forbes talks about digital transformation and why trusting data over your gut will ultimately help you earn loyalty points with customers. Last but certainly not least we're sharing how the rise of mobile shopping will help loyalty programs reach $201 billion in CAGR by 2022.
"Today’s marketing teams are being forced by customers to be responsible for what they’re selling, not just the day their ad goes live, but throughout the life of the entire product. Customers are turning to social media to interact with companies—for better or for worse. They want two-way feedback, product communities, and a commitment to service and they want it now. That means marketing departments need to use technology, first and foremost, for communication. And they need to make sure they’re grabbing valuable customer insights from every exchange. "
A recent of study lead by Wikibuy had 5,000 consumers sound off on their thoughts about brand loyalty. "The amount of things available to buy has increased ten-fold, even in just twenty years. This is why achieving brand loyalty is more impressive than ever. The ultimate success is to have a consumer always pick your brand over a dozen others for one reason or another."
Recently Industry experts and executives shared their customer loyalty predictions. "Loyalty programs to reward for customer advocacy. Retailers are starting to reward actions, such as referring friends, sharing posts, and creating content, in the same way that traditional loyalty programs reward the purchase of products. This is due to the proliferation of mobile devices and social networks making it easier for consumers to influence each other, as well as technology now enabling retailers to accurately track and reward “advocacy actions."
"The global market for loyalty programs is expected to reach $201 billion by 2022, representing a compound annual growth rate (CAGR) of four to five percent, according to Beroe Inc., a leading global procurement intelligence firm. The rise of mobile shopping—bolstered by wide-scale adoption of smartphones and surging consumer preference for online shopping—is a key driver of this expanding market, generating new demand for customizable loyalty programs, analytics and business intelligence.. "
Are you focused on customer loyalty programs for your brand? The Amplero Platform delivers relevant moments to consumers for B2C enterprises, optimizing for long-term KPIs like annual revenue per user and customer lifetime value.