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Cracking the Loyalty Code
 

Cracking the Loyalty Code

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Engaging connected shoppers armed with virtually unlimited technology requires updated loyalty practices that reflect individual preferences, affinities, and interactions. This presentation discusses ...

Engaging connected shoppers armed with virtually unlimited technology requires updated loyalty practices that reflect individual preferences, affinities, and interactions. This presentation discusses the state of loyalty today as well as tips for developing programs that lead to loyalty-building engagement.

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    Cracking the Loyalty Code Cracking the Loyalty Code Presentation Transcript

    • Crack the Code for OptimizingPromotions and Loyalty ©2011 RedPrairie Corporation. All rights reserved.
    • 2.1Bloyalty members1 “Loyalty” Today 18 17% accts/household 2 8.4 81% know “nothing” 3 “very influential” 2 active accounts2$48B2011 rewards2 36% 25% reward worked 2 85% hear “nothing” 3 “very loyal” 2 1 – Customer Research Center 2 – Colloquy 3 – ACI Worldwide Study 2
    • Why the Disconnect?Traditional Loyalty Programs Leave Much to be Desired• Impersonal Select rewards from lists of things they don’t want• Imperfect Consumers feel like they are jumping through hoops• Ineffective Consumers work hard to find the loop holes instead of the things you care about – namely being a more engaged and loyal customer 3
    • Audience Poll: Where Do You Stand?• How would you describe the state of your loyalty programs today? a. Engaging and personalized across channels b. Primarily discount-driven with little personalization c. No loyalty program in place 4
    • Loyalty 3.0The Road to Customer Engagement 5
    • Potential Loyalty Benefits Abound… RETAIN CUSTOMERS GAIN MORE CUSTOMER TARGETED INSIGHT MARKETING NEW INCREASE CUSTOMER INCREASE SPEND & ACQUISITION REVENUE FREQUENCY BUILD DIFFERENTIATE BRAND LOYALTY ENHANCE CUSTOMER RELATIONSHIPS -- First Data 6
    • Realizing benefits requires more than a plastic card, blanket discounts, and aggregate analytics “Loyalty is no longer about points and discounts…it is now about howprocesses, tech, ideas, & interactions engage individuals with the brand.” 7 -- Loyalty360 the Loyalty Marketer’s Association ©2011 RedPrairie Corporation. All rights reserved.
    • Building Blocks to Meaningful Loyalty • Focus on the Experience • Engage and delight customers in unexpected and personalized ways • All-Channels, All the Time • No Exceptions • No “Bolt Ons” • Part & parcel of experience design 8
    • Audience Poll: Consistent Experiences?• How would your customers describe the state of your loyalty programs today? a. Very consistent programs and experiences across all selling channels and touch points b. Somewhat consistent programs and experiences across channels with just an occasional disconnect c. Separate and distinct programs across channels with little or no connection between the channels and programs d. No loyalty program in place 9
    • Experience Matters…In-Store Concerts, Trunk Shows, Private Parties, etc. 80% of shoppers who participated in an experiential marketing event told others about their experience --Jack Morton 10
    • All Channels, All the TimeConnecting the Dots Between Channels is Critical 66% of Leaders identify attractive loyalty offers as the top component of their all-channel strategy --Aberdeen Group 11
    • No “Bolt Ons”Connecting the Dots Between ALL Channels is Critical 78% believe a great customer experience across channels makes them loyal --Loyalty360 12
    • Better Experiences Motivate DesirableShopping Behaviors• More visits per customer in more channels• Greater spend per visit• More purchases• More frequent – and influential – social sharing• Access from different channels/touch points 13
    • 5 Tips to Developing Programs that Work 1. All-Channel Engagement • Single data source, single customer record 2. Delight & Surprise • Superior experiences at an individual level 3. Go Beyond Revenue-Based Rewards • Reward engagement with your brand 4. Reduce the Burden on the Consumer • Make it easy to join, use and participate 5. Entice Customers to Return and Bring a Friend 14
    • “HT +1” Engages One on One 15
    • Fully Baked Loyalty 3.0 at Panera ©2011 RedPrairie Corporation. All rights reserved. 16
    • Fully Baked Loyalty 3.0 at Panera ©2011 RedPrairie Corporation. All rights reserved. 17
    • Audience Poll: Your Best Practices?• Which of the following “best practices: do you employ in your loyalty programs today? Check all that Apply 1. All-Channel Engagement 2. Surprise & Delight programs 3. Reward for Engagement (beyond purchases) 4. Personalized Rewards 5. In-Store Events 18
    • RedPrairie isCommerce inMotion 19
    • Red PrairieCustomer Engagement Management Seamless Interaction Across Channels & Touch Points 20
    • Learn MoreRedPrairie.com/All-Channel-Commerce Clienteling Test Drive 21