Loyalty programs can give you data about what your customer wants from your brand and why they purchase and engage with you, but the insight gained from a loyalty program is more relevant and accurate than a third-party data source and can tell a company so much more about where to invest their time and money, and where to tweak their strategies to grow their business.
Consumer expectations are constantly evolving and transforming due to the continuous wave of new technologies and platforms entering the market. It’s certainly an exciting time for marketers to explore new ways to connect and engage with existing and future customers. What tools and technologies will help?
Successful brands need to establish both effective acquisition and retention strategies. Loyalty is the answer. Brands investing in customer loyalty can help drive engagement and retention and attract new customers simply by designing a program that rewards existing customers and appeals to new ones.
Consumers find engaging, omnichannel loyalty programs of value, and during this age of increasing consumer distrust, loyalty programs provide brands the opportunity to capture rich, opt-in customer data. You have to earn a customer's trust first though.
Brands can leverage the power of storytelling to create deeper relationships with customers and share unique perspectives from individuals and company leadership alike. Brand storytelling is crucial to sharing authentic brand narratives, demonstrating key differentiators in memorable ways, and ultimately capturing market share.