How to plan your next customer loyalty strategy

In Data & Analytics, Loyalty & CRM, The Mobile Customer by emily1 Comment

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What will be in your next customer loyalty strategy? If it includes gamification, mobile and big data then it looks like you're bang on trend.

Destination Rewards has announced its top three predictions for the future of customer loyalty programs.

"It’s no longer enough to offer customers points, miles or virtual currency—they can get those anywhere, and they don’t see any value in having to wait weeks, months or sometimes years to use them," said Destination Rewards Co-Founder and Senior Vice President of Business and Product Development, David Shaw. "Today’s customers demand more, because in the ever-expanding, global marketplace, they have plenty of options when it comes to where and how they spend their money."

Here's what Destination Rewards thinks are the three big trends:

  • Gamification: This will move on to high-engagement activities such as auctions. Read this blog post about why your company should get involved in gaming.
  • Mobile Platforms: "As the consumer becomes better equipped with mobile technology, the loyalty industry will follow suit. More and more mobile applications for smart phones and tablets will continue to be developed," said Shaw. Read a post here about how mobile and social media can be brought into your core business strategy.
  • Data-Driven Marketing Integration: "It's a difficult task to harness the power of communication relevancy," said Shaw. "Businesses will need to better understand the data gleaned from their customer base via purchases, store visits, and online interactions, and apply these learnings across multiple marketing channels, including their loyalty programs." Shaw suggests the stand-alone loyalty program will become a thing of the past. Read a post here about the role data plays within marketing.

So is Destination Rewards right about its predictions? What will be in your next customer loyalty strategy?

Comments

  1. Brent Yalkut

    This certainly isn’t a new thought. Consumers want the biggest bang for their bucks, whether they are hard currency or virtual in the redemption of loyalty points. The real issue is in providing a product line that does not leave the consumer redeeming “Points” feeling like they just spent everything they earned on an obsolete product, just because it was the only thing available.
    As a consumer, I want to redeem for something luxurious. I want something I hadn’t thought to buy myself, until I went to the trouble of redeeming points. This would excite me and get me to make the decision right away and then have no remorse…..and then look forward to getting mail.

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