Loyalty Programs: Going Beyond Transactional Rewards
Upcoming SlideShare
Loading in...5
×
 

Loyalty Programs: Going Beyond Transactional Rewards

on

  • 1,106 views

 

Statistics

Views

Total Views
1,106
Views on SlideShare
978
Embed Views
128

Actions

Likes
2
Downloads
64
Comments
1

2 Embeds 128

http://www.dmplaza.be 81
http://www.vivastream.com 47

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Loyalty Programs: Going Beyond Transactional Rewards Loyalty Programs: Going Beyond Transactional Rewards Presentation Transcript

  • Loyalty Programs: Going Beyond Transactional Rewards Lisa Evans Vice President, Analytic Strategy KBM Group
  • of CEOs are looking for new ways to stimulate customer demand and loyalty this year. (PWC, Global CEO Survey 2013) 82%
  • “The actual shopping, interactions and flow…and rewards…all are supported with orchestrated media, providing the stories that people can gather around.” (Forbes, 1/3/13)
  • 27% Enrollment 4% Participation (COLLOQUY Loyalty Census 2013)
  • Financial Rewards Emotional Loyalty Monetary rewards are expected but are not enough to build deeper brand loyalty.
  • • Maslow was right —people need achievements and respect. • Behavior-based recognition is rising fast.
  • Constant Evolution is Required Engagement has to constantly evolve to stay interesting • Changing reward types • Surprising with unexpected rewards
  • New Level of Customer Expectations Expectations of experiences are determined by what have now become ubiquitous brands. Customers are increasingly expecting the same type of experience regardless of their role as an individual (B2C) or organizational buyer (B2B).
  • Business to People (B2P)
  • Behavior Drives Loyalty Program Recognizes Program Rewards Members Transact Members Interact Traditional Programs
  • Transact & Interact Members Transact Members Interact • Purchase/spend • Save • Recycle • Social referrals • Retail shop interactions–show up • Play games • Watch videos • Take a quiz/poll • Social entertainment check ins &
  • Reward & Recognize Program Recognizes Program Rewards &• Travel • Experiential • Merchandise • Gift Cards • Charitable Donations • Discounts • Cash • Product Influence • Special Content Access • Social Currency • Status Rankings • Virtual Badges • Targeted Communications • Thank You
  • Social Connectivity Increases Perceived Value Source:Badgeville
  • Set a High Bar
  • Insight Loyalty Experienc e Online Experienc e Design Within the Customer Experience Ecosystem Insight– • The core of the experience • Drives the insights for each individual customer Online Experience – • Tailored to user • Provides the single online experience for all marketing programs and activities Loyalty Experience – • Beyond awarding points • Experience associated with being a loyal customer Defined by marketing strategy and outlines the foundation for solution-geared experiences Experience Ecosystem Experience Components
  • Loyal ty Recognize “Best” Customer Dialogue is Critical Give the Customer Control Go Beyond Financial Rewards Know Your Customer s Reward Engagem ent not just Transacti ons Emotion Moves People to Action Loyalty Program Best Practices
  • Tier 1 VIP Tier 2 Growth Customer Tier 3 Low Potential Growth Customer Loyalty Path Content Rewards Connectivity Communications Increasing Program Value Low Engagement Level High
  • Key Program Pillars 1. Content Provisioning (owned, access, earned) 1. Content Provisioning (owned, access, earned) 2. Personal/Peer Connectivity2. Personal/Peer Connectivity 3. Surprising Content/Rewards3. Surprising Content/Rewards 4. More Loyal, More Willing to Pay4. More Loyal, More Willing to Pay Solutions for emerging topics; surprise and delight “rewards” Facilitate personal/peer connectivity; integrate social sign-on Traditional Loyalty Traditional: Give More Away to Best Customers Price of Perceived Value Modern Loyalty Loyalty Program
  • Be Curious
  • Transaction Social Lifestyle Digital Seek and Apply Insight
  • Social Listening Inspires Program Innovation
  • Reward Portfolio Optimization
  • Media Targeting
  • Program Objectives Member / Non Member Insights Program Structure Quantitative Insights • Hard Benefits / Currency • Social Audit • Engagement (social, mobile, email) Program Design / ROI Implementation Planning q Test Design q Communications Plan Measurement Concept Design Qualitative Insights • Soft Benefits / Currency • Enrollment / Redemption Process Program Design Process
  • How Does Your Program Stack Up? Your Market Your Business Your Customers
  • Q & A Lisa Evans Vice President, Analytic Strategy Lisa.Evans@kbmg.com