Loyalty Quest: Understanding What Customers Want
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Loyalty Quest: Understanding What Customers Want

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Develop insight into leveraging customer data to target and acquire more profitable customers, keep them coming back and even increase the amount of money they spend with your company. Uncover ...

Develop insight into leveraging customer data to target and acquire more profitable customers, keep them coming back and even increase the amount of money they spend with your company. Uncover strategies to earn customer devotion by anticipating and exceeding its customer expectations.

More CRM and Loyalty Marketing Resources

Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/

eBooks: http://www.customerinsightgroup.com/white-papers

Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops

Systematic New Loyalty Program Development: http://www.customerinsightgroup.com/systematic-new-loyalty-program

Pinterest: http://pinterest.com/engagekeepgrow/

Who is Customer Insight Group?

Customer Insight Group, Inc. leads the way in the evolution of how companies engage their customers, positively motivate them and earn their long-term loyalty. Our extensive client work is testimony to our depth of knowledge and ability to apply strategic insight and solutions to a wide variety of business objectives. Our team’s client experience includes: NHFA, Thomasville Furniture, The Maxim Group Carpet Franchise, Ashro, A&P, The Bon Ton, Crate & Barrel, Dick’s Sporting Goods, Edwin Watts Golf, GE Consumer Finance, Monroe and Main, Swiss Colony, Midnight Velvet, MySwingle.com, The Great Indoors, G.H. Bass, Golf Galaxy, Helzberg Diamonds, HSBC, Kohl’s, La-z-boy Furniture Franchise, MCI, Payless ShoeSource, Pier 1 Imports, Petco, Proflowers.com, Regis University, Ruby Tuesday, S&K Menswear, Sierra Trading Post, Stein Mart, Tommy Hilfiger, Ulta, as well as various other leading companies.

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    Loyalty Quest: Understanding What Customers Want Loyalty Quest: Understanding What Customers Want Document Transcript

    • Loyalty Quest Understanding what customers want.the consumer’s feel — that they’re not just face- be courted, and will pay you less consumers, but highly handsomely for it. well-executedpurchasing options valued individuals. loyalty programs have boostedtoday are dizzying. retailers’ bottom lines by 25 to Just as a friend feels delightedIn most retail areas, shoppers can 95 percent, according to Jupiter when you buy her a gift she’s longfind the same product at several research. desired, so does a shopper feelstores. And if they don’t want to an affinity to a store that under-leave the comfort of their home stands her and caters to them. Case studiesthere are catalogs, tV shopping Nine West Group, Inc.channels and the Internet. that understanding is called cus- tomer-centric marketing. A 180- nine west group gets down toBut what makes many of them their customers’ soles, using degree turn from volume-basedrepeatedly choose one business e-mail as a primary method for communication strategies toover the others? Loyalty. reaching them. focus on leveraging customerthese buyers’ decisions are guided insights to target and acquire to market to its easy spirit brandby far more than just familiarity or more profitable customers, keep customers, it tailors its messageproximity. Consumer expectations them coming back and even to such specific details as a cus-are high. In fact, it is not uncommon increase the amount of money tomer’s shoe size and shoe widthfor a business to achieve high they spend with your company. – one of the features that drawcustomer satisfaction ratings, but to earn that kind of customer hard-to-fit and quality-consciencestill experience customer retention devotion, a business must learn customers to buy easy spiritproblems. Customer loyalty cannot to anticipate and exceed its cus- in the first place. the companybe assumed. tomers’ expectations. finds this information throughtoday, it’s how the purchasing Customers, not retailers, are in customer’s transaction history asexperience makes the customer today’s driving seat. they want to well as online profiles.|| ©2010 Customer InsIght group, InC. ph: 303.422.9758 www.CustomerInsIghtgroup.Com
    • For instance, when the customer customers by gathering and company to hire well-trained ana-receives e-mail about a new line analyzing data about them. that lysts, then significantly beefing upof sandals, she is directed to a includes who they are and how its marketing departments to helplanding page that displays the often, what and when they buy. translate the data into effectivesandals that come in her size and programs. this information can come notwidth. Additionally, every e-mail that’s where strategic marketing only from a study of behaviors,includes is a link to a page where but also local demographics: firms can help make the differ-the customer can edit her profile. ence between a successful loyalty > Are you in a high-incomeIt relies on a similar e-mail cam- program and one that fails to area?paign for its nine west brand. achieve the business objectives. > One heavily populatedthe company’s carefully analyzed the statistics loyalty marketers by seniors?messages show their customers know how to find will keep com-open, read and act on the com- > Families? panies from searching in thepany’s e-mail and mail messages > Singles with lots of dark to find successful strate-at rates as much as four times disposable income? gies. since it’s their business,higher than the industry average, marketers invest heavily to target your marketing toward thesaid nine west’s multi-channel ensure that their databases are demographic that already fre-marketing vice president. always up to speed or ahead quents your store. of the game. A Directmag.comPetco In addition, find out what moti- survey showed that most mar-petco knows not just its cus- vates your customers to buy from keters spend nearly $250,000tomers, but also their pets, a one retailer over another, and to upgrade their databases. thenecessity in a business in which what type of customer you want reason? more and more compa-the shopper’s focus is not on to attract: nies are investing in customer-himself, but his loyal companion. > Is it the recognition and sta- centric programs to improve busi-It considers the special needs of tus often awarded to bigger ness performance.customers who have youthful and spenders, such as the points once a retailer creates andaging pets, and advertises prod- accumulated by frequent flyers? implements a program, theucts and services to suit those > Are you searching for value- need for such data doesn’t gopets’ life stages. minded, time-conscious shop- away. Best Buy, for instance, pers who need discounts and/ is continually researching itsDuring one of its successful or convenience to lure them to customers’ satisfaction andefforts, it tracked customers who a particular company? using that information to tweakpurchased small animals suchas fish, snakes, birds and rep- > Or do you want your business its program in the areas thattiles, and sent them postcards to draw customers based on research shows it’s flagging. Inrelated to the specific pet they the quality of its products and 2004, it revamped its alreadypurchased. the response rate to superior service? successful loyalty program. thethis mailing was an astounding Your business objective will influ- changes were not dramatic,15 percent. ence the data requirements and but carefully planned to deliver how the data is collected. maximum effect.getting there the intricacies involved in this It offered buyers more optionstakes work. kind of data analysis exceed most for cashing in on their rewardsFirst, and most critically, the retailers’ abilities. Collecting the and gave its highest spendersbusiness must get to know its right data likely will require a exclusive soft benefits. It made|| ©2010 Customer InsIght group, InC. ph: 303.422.9758 www.CustomerInsIghtgroup.Com
    • in-office changes as well that cut through online reward Zone customers than win new ones.error rates in tracking the use of certificates. not only was this A loyal customer is worth more,certificates and lowered postage change beneficial to members, shops more often and spendscosts. As a result, enrollment in but it also allowed Best Buy to more money than an infrequent or one-time buyer. Additionally, happy customers relay their expe-A l o yA l c u s t o m e r i s w o r t h m o r e , s h o p s m o r e o f t e n riences to friends, a trusted andAnd spends more money thAn An infrequent or invaluable referral system.one-time buyer. show them you’ve got what they – as individuals – need so they won’t even consider seeking itits reward Zone program more employ more environmental elsewhere. make it easy andthan doubled, and Best Buy cut friendly practices while again natural for them to come to you,$2 million from its postage costs. cutting program costs. every time.In 2009, the successful elec- shifting to a customer-centric using this approach, customerstronics retailer offered customers marketing is a worthwhile invest- become not advertising targets,even more options by introducing ment. Consider this: It’s up to five but partners in your successfulincreased security and safety times cheaper to keep existing business. sAllie burnett c u s t o m e r i n s i g h t g r o u p, i n c . strategist. leader. innovator. Customer Insight Group is a strategic With over 20 years’ experience in marketing company that uses customer strategic marketing, sales management information to help its clients engage in and customer relationship management, successful and profitable long-term rela- Customer Insight Group founder Sallie tionships with each and every customer. Burnett has built her vanguard reputation It provides marketing strategy, customer by crafting solid customer-centric strate- research, data analysis, program devel- gies that drive bottom-line success for opment, implementation and refinement her clients. Renowned for her out-of-the- of customer-centric programs including:Sallie Burnett box thinking and wealth of experience, loyalty, social media, customer engage-president, Ceo she’s been sought out by many of the ment, retention, win-back and new cus-Customer Insight group nation’s top companies to engage, keep tomer acquisition.twitter.com/sallieburnett and grow their customer relationships at every point along their customer relation- ship journey. Her insight results in better aligned sales, service and marketing, while generating the greatest return on investment based on the voice and value 671 Secrest Circle 1 of the customer. Arvada, CO 80007 ph: 303.422.9758 www.customerinsightgroup.com info@customerinsightgroup.comCustomer relationships — engage.Keep.grow. twitter.com/internethowto|| ©2010 Customer InsIght group, InC. ph: 303.422.9758 www.CustomerInsIghtgroup.Com