Today's roundup of articles, news, and insights about customer loyalty, retention, and rewards programs is one to bookmark! Today we're helping you with brand loyalty, even looking at how shared values strengthens customer loyalty, figuring out how loyalty programs can be improved and lastly drilling into new research travel and leisure customers. Check it out now.
"...today’s consumers – particularly digital natives like millennials and Gen Zers – may be more concerned with fear of missing out (FOMO) than fear of messing up. And with online reviews, social referrals, and comparison shopping tools readily available to influence every purchase decision, marketers are facing an uncomfortable new reality: Even our most loyal customers may ditch us as their bestie brand friend whenever something new and more appealing pops up in their social news feeds or gets deeply discounted in an Amazon Prime Day sale. "
Maria Garrido, chief insights and analytics officer at Havas Group, discusses the company's latest survey on customer loyalty to brands. She speaks with Bloomberg's Francine Lacqua on "Bloomberg Surveillance."
"One of the biggest advantages of offering a loyalty program is collecting customer data and then using that data to personalize offers based on customer behavior. With today’s business intelligence (BI) technology, customers can be segmented by their number of store visits, what they purchase, if they are a fuel-only customer and more. Retailers can push out coupons and offers relevant to their needs."
New research report provides strategic insights for travel brands. "ADARA found that a significant number of basic and elite loyalty members belong to more than one loyalty program. The data reveals that 17% of all top tier air travelers belong to more than one loyalty program, while 24% of all top tier hotel members belong to more than one loyalty program. Additionally, ADARA reveals the “share of mind” that hotel and airline brands have with their top tier travelers, and how significantly it is at risk during the planning phase."
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