How to Improve Customer Loyalty in RetailMarketBridge
We all know that shoppers prefer a personalized experience based on their historical interactions with a Retailer (skeptical? 85% of shoppers say they want that!). So why do we fall short of delighting them with the experiences they're asking for? Get real strategies for gaining true customer loyalty
1. IKONSOFT has supported over 100 loyalty program initiatives.
2.Project managed over 27 programs as A-Z turn-key solution.
3.Our expertise will keep you ahead of the game in today’s rapidly evolving world of multi-channel and social media integration, mobile consumers, real-time marketing and more with our loyalty platform.
4.If you need to launch a new loyalty program initiative on a tight schedule, with low risk and a high return on your loyalty program investment – partner with IKONSOFT.
5.We can guarantee the success of your loyalty card program through our industry experience and expertise.
Gamification Benefits to Rewards/Loyalty Programstalktalk
Rewards/loyalty programs are proven to rapidly gain and significantly retain customers, increase faster repeat revenues and accelerate customer engagement.
Gamification adds to the concept of user engagement process and offers new dimension to both customers and staff. Here's #10 - 10 – Future trends in gamification changes the paradigm of customer engagement farther and faster than other means – game theory and artificial intelligence techniques will drive future customer engagement programs. Simulations of all kinds will be used internally to motivate staff and customers alike. Designing of games will evolve as part of nearly all business operations making the job of the job more efficient , effectively and certainly more fun.
How to Improve Customer Loyalty in RetailMarketBridge
We all know that shoppers prefer a personalized experience based on their historical interactions with a Retailer (skeptical? 85% of shoppers say they want that!). So why do we fall short of delighting them with the experiences they're asking for? Get real strategies for gaining true customer loyalty
1. IKONSOFT has supported over 100 loyalty program initiatives.
2.Project managed over 27 programs as A-Z turn-key solution.
3.Our expertise will keep you ahead of the game in today’s rapidly evolving world of multi-channel and social media integration, mobile consumers, real-time marketing and more with our loyalty platform.
4.If you need to launch a new loyalty program initiative on a tight schedule, with low risk and a high return on your loyalty program investment – partner with IKONSOFT.
5.We can guarantee the success of your loyalty card program through our industry experience and expertise.
Gamification Benefits to Rewards/Loyalty Programstalktalk
Rewards/loyalty programs are proven to rapidly gain and significantly retain customers, increase faster repeat revenues and accelerate customer engagement.
Gamification adds to the concept of user engagement process and offers new dimension to both customers and staff. Here's #10 - 10 – Future trends in gamification changes the paradigm of customer engagement farther and faster than other means – game theory and artificial intelligence techniques will drive future customer engagement programs. Simulations of all kinds will be used internally to motivate staff and customers alike. Designing of games will evolve as part of nearly all business operations making the job of the job more efficient , effectively and certainly more fun.
2014 Customer Loyalty ASEAN Conference: Mike AtkinJim D Griffin
Mike Atkin discusses global trends in customer loyalty marketing, using a case-study approach. Mike, the keynote speaker at the conference, is the Chairman of Customer Strategy Network.
How to Improve Your Loyalty Program
Refresh yourself on new trends and why loyalty programs are important. Whether you’re just starting out with a customer loyalty initiative or you recognize that the one you already have needs reworked, this presentation will provide valuable insight into where your next steps should be.
Who is Customer Insight Group, Inc.?
Customer Insight Group is a leader in building brand loyalty for the world’s most influential and valuable brands. We help companies engage, keep and grow more profitable customer relationships. We leverage customer insight to deliver the right message to the right customer via the right channel at the right time. The bottom line is we focus your marketing dollars to get the biggest bang for your buck. The result? Long-term customer relationships and maximized margins.
More Resources:
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
Loyalty eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Loyalty Program Audit: http://www.customerinsightgroup.com/don%E2%80%99t-enter-battle-customer-loyalty-unarmed-audit-your-loyalty-marketing-strategies
these slides gives depth knowledge regarding consumer behavior. Marketing manager and students of Marketing can increase their knowledge regarding this aspect.
Today companies face their toughest competition ever. Moving from a product and sales philosophy to a holistic marketing philosophy, however. given them a better chance to outperforming the competition. And the cornerstone of a well conceived marketing orientation is strong customer relationship. In this presentation, we discuss how companies can win customers expectations. We also discuss the use of database marketing for customer relationship management
Customer Segmentation In eCommerce (11 Used Cases)Pawan Kumar
Segmentation helps you to categorize your subscribers/customers in the small groups with same interests and preferences. It gives you an idea of sending relevant content. But how to do it?
Here are some practical cases of customer segmentation in eCommerce. Let’s dive right in:
Everyone has a creative potential! Yes that's right. We all have the innate capacity for creative activity. ZaVue Solutions deals with providing novel business ideas and an opportunity to do online writing to earn a good amount in your lives.
Website: http://zavuesolutions.com/
Like and share our Facebook page to get updates;
https://www.facebook.com/zavuesolutions/
Consumer Preferences for Retail Promotions - Cognizant Research FindingsCognizant
Which retail promotions are the most effective? Results from a survey of US shoppers to study the preferences of consumers for various retail promotions.
Loyalty Programs are going mobile. This presentation lays out some of the reasons why we're seeing a shift in Loyalty to mobile, and the best way businesses can take advantage of it.
2014 Customer Loyalty ASEAN Conference: Mike AtkinJim D Griffin
Mike Atkin discusses global trends in customer loyalty marketing, using a case-study approach. Mike, the keynote speaker at the conference, is the Chairman of Customer Strategy Network.
How to Improve Your Loyalty Program
Refresh yourself on new trends and why loyalty programs are important. Whether you’re just starting out with a customer loyalty initiative or you recognize that the one you already have needs reworked, this presentation will provide valuable insight into where your next steps should be.
Who is Customer Insight Group, Inc.?
Customer Insight Group is a leader in building brand loyalty for the world’s most influential and valuable brands. We help companies engage, keep and grow more profitable customer relationships. We leverage customer insight to deliver the right message to the right customer via the right channel at the right time. The bottom line is we focus your marketing dollars to get the biggest bang for your buck. The result? Long-term customer relationships and maximized margins.
More Resources:
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
Loyalty eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Loyalty Program Audit: http://www.customerinsightgroup.com/don%E2%80%99t-enter-battle-customer-loyalty-unarmed-audit-your-loyalty-marketing-strategies
these slides gives depth knowledge regarding consumer behavior. Marketing manager and students of Marketing can increase their knowledge regarding this aspect.
Today companies face their toughest competition ever. Moving from a product and sales philosophy to a holistic marketing philosophy, however. given them a better chance to outperforming the competition. And the cornerstone of a well conceived marketing orientation is strong customer relationship. In this presentation, we discuss how companies can win customers expectations. We also discuss the use of database marketing for customer relationship management
Customer Segmentation In eCommerce (11 Used Cases)Pawan Kumar
Segmentation helps you to categorize your subscribers/customers in the small groups with same interests and preferences. It gives you an idea of sending relevant content. But how to do it?
Here are some practical cases of customer segmentation in eCommerce. Let’s dive right in:
Everyone has a creative potential! Yes that's right. We all have the innate capacity for creative activity. ZaVue Solutions deals with providing novel business ideas and an opportunity to do online writing to earn a good amount in your lives.
Website: http://zavuesolutions.com/
Like and share our Facebook page to get updates;
https://www.facebook.com/zavuesolutions/
Consumer Preferences for Retail Promotions - Cognizant Research FindingsCognizant
Which retail promotions are the most effective? Results from a survey of US shoppers to study the preferences of consumers for various retail promotions.
Loyalty Programs are going mobile. This presentation lays out some of the reasons why we're seeing a shift in Loyalty to mobile, and the best way businesses can take advantage of it.
Innovation: Earning More Rewards on Every PurchaseAlexander Cohen
My presentation for the co-brand credit card conference in Atlanta, May 2017. Had the opportunity to talk to a great group of people about engagement with loyalty programs and how to stay competitive in a changing reward landscape.
This presentation gives a clear definition of what is segmentation. Various examples have been taken to provide a better understanding of Segmentation with particular reference to financial services and products.
1. Our Mission… Advancing Professional Standards in Category Management
CMA
Association for Category Development Professionals
Loyalty Card Marketing with Demand
Indexing
Targeting through the integration of Demand Indexing into Loyalty Card
Marketing Initiatives
Presented by: Eric Togneri, Principal at the CMA and Neri Consulting
2. CMA
Association for Category Development Professionals
Speaker Introduction
• Eric Togneri has held sales, shopper marketing, and
category management leadership positions at L'Oreal and
led Wyeth Consumer Healthcare's Drug Channel for cat dev
• He currently is a principal and strategic advisor for the CMA,
the largest trade association for the discipline of category
management and a Sr. Consultant for NERI
• The CMA currently counts among it’s membership a broad
base of category management, sales, trade and brand
marketing members spanning manufacturing, retail and
educational institution
4. CMA
Association for Category Development Professionals
Loyalty Marketing initiatives take many forms
• There are frequent-buyer programs, frequent-flier programs,
frequent-player cards and frequent-dining coupons
• There are points-at-the-pump schemes, turkey giveaways at
Thanksgiving, along with $100 copper roasters in which to
cook them
• Donations to charities for people who use their Starbucks
loyalty card to buy coffee.
Source: CIO - Insight
5. CMA
Association for Category Development Professionals
Loyalty Cards are a critical part of the
marketing mix
• More than 75 percent of consumers now have at least one
loyalty card according to Jupiter Research
• The number of people with two or more is estimated to be
one-third of the shopping population
• Surveys by information technology analysts Gartner Inc.,
Forrester Research Inc. and META Group Inc. suggest the
data-for-dollars explosion is showing no signs of letting up
anytime soon
• According to Gartner analyst Adam Sarner, U.S. companies
spend more than $1.2 billion on customer loyalty programs
6. CMA
Association for Category Development Professionals
Loyalty Cards in the modern marketplace
• Loyalty cards and prizes have always been, first and
foremost, a cheap way for businesses large and small to
start tracking their customers' shopping habits
• Customers consider themselves entitled to special
treatment, a marketplace psychology spawned in the 1970s
by the airline industry's invention of frequent-flier miles
• Says Brian Woolf, president of the Retail Strategy Center in
Greenville, S.C., and author of Loyalty Marketing: The
Second Act, "Loyalty programs are now an essential part of
the marketing mix”
Source: CIO - Insight
7. CMA
Association for Category Development Professionals
Learnings from the annual Category
Management Conference
• The next generation of category management will be driven
by…
– “Focus on linking category management with frequent shopper
marketing”
– “Link segment marketing with category management”
– “Link Category Management with Local Marketing”
• “Need efficiencies plus local marketing”
• “Need to understand how you compete in each local market
(lower level of aggregation than metro areas)”
• “Must create category management team member who adjusts
strategy and tactics to the local market level”
Source: Robert Blattsburg
9. CMA
Association for Category Development Professionals
How are these cards being utilized?
• Price of admission to receive in store discounts
• Collection of data on consumer purchase behavior
• Marketing programs
– Register receipt discounts
• Bounce backs
• Affinity purchases
– Purchase level incentives
• i.e. Buy $50 this month and get $10 off your next purchase
– Customized Direct Mail Programs
• i.e. Consumer will receive coupons in the mail based upon their past
purchase behavior
10. CMA
Association for Category Development Professionals
So how do we forge ahead to the next
generation in Loyalty Card Marketing?
Integrating Demand Indexing
Into Loyalty Card Marketing Initiatives
11. CMA
Association for Category Development Professionals
What do loyalty cards tell us about shoppers?
Some or all of the following…
• Where they live
– How much their house is worth
– Their income
• Contact information
– E-mail
– Phone
• Their age
• How many in their household
• Presence of kids
• Shopping preferences
12. CMA
Association for Category Development Professionals
What is demand indexing?
• Data sources, like Spectra, can tell us certain
things about a brands’ consumers
– Age
– Household income
– Ethnicity
– Presence of children
– Hobbies/interests
– Purchase levels
– Affinities
13. CMA
Association for Category Development Professionals
This leads us to a demand index…
• This information can allow us to look at a brand and
determine what the demand index (mean or
average) should be at the consumer, market and
overall levels
• So how does this lead us to insights…
Let’s say Ashley fits the profile of an average
Maybelline Great Lash consumer. And we know
that the average Great Lash shopper purchases
$20 worth of Great Lash per year in Ashley’s
market. If Ashley purchases $15 per year she
under indexes, if $25 she over indexes.
Meet Ashley
Maybelline Great Lash is a registered trademark of L’Oreal
14. CMA
Association for Category Development Professionals
So, how does this work with loyalty cards?
• Since many of the same data points that are
collected through loyalty cards (purchase behavior,
demographics, geography, etc.) we can…
– Identify loyalty card holders that look like a particular
brand or category consumer
– Compare that consumer to their brand or category
purchase behavior
– Determine the index level
– And create programs to target specific consumers based
upon our brand or category objectives
15. CMA
Association for Category Development Professionals
Why is this an improvement over current
approaches?
• The vast majority of current loyalty card marketing
initiatives are delivering un-targeted price discounts
• This strategy rewards…
– Price chasers
• The fair-weather friends of the CPG industry
• You can keep them through heavy promotions, but they are just
as easily swayed to purchase alternatives
• A high investment for those who will not be with the brand for the
long haul
– Pantry loaders
• Skewed toward loyal consumers
• Traded down on a price per equivalized unit
16. CMA
Association for Category Development Professionals
Affinity programs are often inefficient
• Affinity programs deliver incentives to consumers
that are both positively and negatively indexing
• An example would be a targeted coupon program
that provides a discount on salty snacks to
consumers who purchase carbonated beverages
– If a consumer already purchases both on each shopping
trip, the discount did not provide an incentive (i.e. we
gave money away)
– We could have gone directly after the consumer that is
not purchasing both and “should be”
17. CMA
Association for Category Development Professionals
So why are the under indexing not purchasing?
• There is no way to know for certain…
• But, the more these individuals can receive brand
communications directly -- whether they are price
or education or some other combination – there is
an increased chance that incentives will lead to
purchases and ultimately loyalty
18. CMA
Association for Category Development Professionals
What are the experts saying…
Stephan G. Kouzomis, Faculty and Staff Member, University of
Louisville’s College of Business
• Consumer buying patterns in today's world are somewhat
not as good as our parent's or grandparent's were!
• One of the keys to loyalty marketing is knowing your target
consumer and then your converted shopper. In some retail
businesses, indexing may be possible, if the index can
incorporate the differences in market share of the retailer; its
image, and importance of and reasons for a premium loyal
buyer.
• Better indexing processes may be a vehicle for customer
service call-ins, and associate service levels at outlet
Source:
19. CMA
Association for Category Development Professionals
What are the experts saying…
Lisa Bradner, Senior Analyst, Forrester Research
• I think all of us applaud CPG channels getting smarter about to
whom, where and when they apply discounts--targeting those
offers vs. simply subsidizing everyone's purchases makes a lot of
sense. The interesting question in loyalty is always--do you give
your best price to your best customers--who probably would have
bought anyhow--or do you use it to entice potential customers?
While using data modeling to identify likely customers who aren't
is a core best practice, retailers and brands need to make sure
that they don't spend so much time chasing new customers that
they forget to show proper appreciation to their current
customers. Good loyalty programs should always balance these
two.
Source:
20. CMA
Association for Category Development Professionals
Thanks you for your time!
Eric Togneri, Principal for the CMA…