$323 billion. That's how much brands spend per year on customer loyalty programs - programs that may be literally wasting data (and money.)
Loyalty programs are a popular way of attracting new customers and engaging existing ones, and they seem to work - the average consumer belongs to about 15 loyalty programs. However, a great many of these programs suffer from poor performance and missed opportunities for the investments that are put into them.
In today's episode of Community Powered Marketing, Sue and Cathy discuss the challenges faced by brands and how they can optimize their loyalty programs to become engines of customer engagement.
You'll discover why focusing on community building can enhance your loyalty program far beyond the standard "discount = purchase" model.
You'll learn the importance of targeting your discounts, offers and promotions to the right audience.
You'll discover why "siloing" your survey and insight data doesn't work, and why sharing it across your company is key to driving personalization and brand connection.
You'll also learn why incorporating non-transactional rewards like referrals and advocacy into your loyalty program can turn your program members into an army of consumer advocates for your brand.
Join Sue and Cathy as they provide real-world examples of loyalty programs that leverage their data and create powerful and personalized customer service experiences that reward their customers in ways beyond basic discounts.
What You’ll Learn in this Show:
Four methods for enhancing your loyalty program through community marketing.
How you can ensure your discounts, offers and promotions are being delivered to the right audience - an audience that will become an army of consumer advocates.
Why connecting your survey and insight data across your company is key to driving personalization and brand connection.
Why you need to incorporate non-transactional rewards like referrals and advocacy into your loyalty program.