Programs are increasingly moving towards experiential rewards rather than transactional offers to create connection and meaning.
The Point of Loyalty CEO Adam Posner says, “Loyalty programs are becoming more sophisticated with using data they collect to deliver a more relevant and personalised offering to members, however there are some who still send emails to all members with a ‘spray and pray’ approach."
He adds, "Many consumers are now moving to a digital and mobile connection to programs such as simplified rewards and payment integration, although cards remained prevalent for older demographics."
You can hear Adam Posner speak about how loyalty programs are benefiting both brands and their members at the QSR Media Detpak Conference and Awards to be held in Sydney on June 13, 2018.
Posner cited five factors for sustaining an engaging program for members.
1) Use the data you collect for tailored offers and communication to ensure purchase behaviour relevance and personalisation (not just name).
2) Refresh your program regularly and focus on the simplicity of the experience and the value and achievability of the rewards.
3) Realise your team’s potential to reach and interact with members - they have massive influence on the success of a program.
4). Report results regularly so that the whole business knows what’s working and what’s not.
5.) Focus more on building emotional loyalty versus transactional loyalty and whilst there are many methods to build a more emotive connection, start with a simple surprise and delight.
Integrated in all of the above is the technology to make the experience of interacting with the program seamless.
When asked about which rewards will have the greatest impact on members, Posner said, “That's a simple question with many layers to it and highly dependent on the brand’s product /service and relevant customer purchase behaviour. The starting point is to work out what financial allowable a business has to invest in rewarding customers for the behaviours that the business wants.
Adam Posner is the founder and CEO of The Point of Loyalty, a strategic consultancy dedicated to helping businesses retain their best customers and grow the rest.
He has been a data-driven marketer for 25 years and started his loyalty life in the mid ’90's with a shopping centre loyalty program called “Scratch & Save”.
Adam has been involved in a range of loyalty and retention strategies and programs for organisations such as Bed Bath ‘n Table, Forever New Fashion, The Westpac Group, Choice Hotel Group, Mt Buller, Big 4 Holiday Parks, The Advantage Pharmacy group and RSL Clubs VIC.
He is obsessed about helping clients build and maintain valuable customer loyalty and retention strategies and programs that are profitable to the business and meaningful to the member.
Posner has commissioned and authored the Australian loyalty research studies ‘for love or money’ - an annual benchmark loyalty study, now in its seventh edition.
He has been widely interviewed on customer loyalty programs and published in The Age, The Sydney Morning Herald, ABC Radio, C7 and C9 News and Marketing Magazine.
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