Brands with successful customer loyalty and experience strategies understand that they should never take a “set it and forget it” approach. Marketers always need to anticipate their journey and actively consider “what’s next.” As many brands look to improve, update, or revamp their loyalty strategies, other brands are embracing formal customer loyalty strategies for the first time, understanding the strategy’s value to identify, engage, and reward their best customers. This session at the 2022 Loyalty Expo will look at several marque brands that have updated or enhanced their customer loyalty programs, personalization strategies, or larger customer-centricity efforts, which have resulted in a measurable increase in customer loyalty, engagement, and/or satisfaction, while also proving themselves as a valuable brand differentiator.
Loyalty360, as the trade association for customer, channel and brand loyalty, has the pleasure of working with a growing number of brands that are looking to improve the efficacy, efficiency, and impact of their customer loyalty efforts. Yet there are challenges. The landscape for customer loyalty is rapidly evolving; there is a growing list of new “promising” technology, innovative reward/incentive strategies, and revolutionary program design offerings recommended by strategic agencies and analyst entities. Yet brands are struggling to understand the diverse and complex landscape, to assess the best technology, understand the new incentive opportunities, and most importantly, recognize how to make it all work together in a manner that does not impede customer experience. The baseline for success is the ability to effectively listen to and understand their customers, as well as internal and external stakeholders, including managing a financial proforma and initially attaining and sustaining organization alignment going forward.
The Key Takeaways:
- Objectivity: Having a detailed, honest, and encompassing understanding of the organization’s current customer loyalty efforts.
- Assessment: Evaluating different technologies (will it do what it claims, will it integrate with the current technology stack), the health of the program, and the competitive landscape.
- Goals: Building an understanding of what the program could be/should be for the organization and putting together a comprehensive plan that includes all stakeholders.
- Measurement: Determining objective measurement processes by which the program can be assessed while remaining flexible to pivot as needed to ensure success.