The three C's of customer social rewards: Community, Comparison, and Charity.
It’s been said that the greatest gifts are those shared with others. I’ll share a memory with you. In third grade, my classmates had a communal pet. Herman was more than a hermit crab — he was an icon, a mascot, a symbol of our community. One week, as a reward for helping a classmate, I was bestowed the honor of taking Herman home for the weekend. The sense of duty I felt to my classmates was my first palpable sense of social responsibility, and it was, itself, the true reward for my behavior.
Science tells us there is something to this concept of social rewards. Fundamentally, we are wired to connect with others. We are always attuned to our social context. In which group do I belong? What are my peers doing? Am I keeping up with the Joneses? Am I…
Chart of the day: Over half of loyalty program users in North America don't know if the program offers a mobile app
There is a huge demand for mobile apps for loyalty programs, according to the large scale loyalty program study by Bond Brand Loyalty.
Loyalty program behaviours and wants
Over half (55%) enroll online, compared with just over 3 in 10 (32%) at the brands location. Almost 6 in 10 (57%) want apps from their loyalty programs but over half (52%) don't know if the program has an app.
There isn't enough personalisation
36% are very satisfied with their loyalty program, whilst just a quarter are happy with the level of personalisation.
Over 3 in 10 (33%) trust loyalty programs, however only a quarter (25%) are happy with the rewards.
In North America, the average number of programs customers have joined is 14, whilst it's around 6…
The 7 elements you need for superior retention automation
It costs a lot to acquire a new customer, but most clients will make a single purchase and leave. A repeating purchase, on the other hand, costs far less than acquiring a new customer, estimated at between 4 and 7 times less actually.
Retention automation has a simple, well-known theory that deals with this issue. Retention automation aims to get better ROI by turning one-time buyers into repeat customers and keeping them, rather than focusing on acquiring additional new customers.
Retention automation can be done with the basic understanding that customers are different, then analyzing them as groups, connecting them to automated campaigns designed to move them in the right direction.
There are plenty of examples that demonstrate programs and multichannel campaigns addressing customer retention according to the customer’s current lifecycle situation and their importance to the business. Surprisingly, although the theory is so…
How acknowledging your customers’ emotions helps Improve your customer experience and business performance
Every business would like to uncover the secret of the best customer experience. Customers have always run the business--no customers, no business--but this saying has never been more true than in the digital era. Brands that appeal to customers are those with added value, great features and an easy, frictionless experience--and we’re not talking about reduced prices here.
Here’s how most companies try to improve their customer experience: through surveys or market research, they find out what customers want or need and try to fulfill that need.
Sure, it’s important to understand what customers want and know how they want to be served, and to use this information to guide your strategy. That’s a basic business principle. The problem is that many companies have forgotten the basics--they forgot that emotions actually drive customer choices.
Customer experience is pivotal
There has been a…
How can online marketers handle the new challenges with the help of one KPI – Customer Lifetime Value?
Marketers are facing a new era in online retail, combining both technology and customer-centricity. It might not be a new thing for most of you and yet a survey shows that most companies are in “digital denial”, not accepting that it is tools and technologies now to help marketers acquire and retain their customers. Important as it is, one-to-one personalization is a challenge as well, which Chloë Thomas indicates in her recent book.
Why that matters in eCommerce?
Customers are more demanding than ever. eCommerce is more competitive than ever. Marketing tools, channels and data flows are more overwhelming than ever.
Online retail marketers today need to be present at the right time with the right message to the right prospect.
So how can we address that?
Let’s try an ACKNOWLEDGE – LEARN – ACT –…
Showing how integrating personalisation and automation can deliver a more personal experience
Long gone are the days when a website was a 'one size fits all' online brochure. Now your web presence needs to play a fundamental role not just in reaching prospects, but also leading them through a personalised customer journey toward conversion to customers and long-term engagement.
According to Econsultancy, 77% of companies are currently planning to increase their digital marketing spend in 2016. Whilst 38% of companies are focussed most heavily on acquisition, 62% recognise that retention is either as important or more important. It’s vital to remember that getting visitors to a website through acquisition tools is an expensive exercise if you don’t also successfully convert the customer and grow your customer equity. Estimates of how much it costs to acquire a new customer vary wildly from the conservative 3 times to an eye-watering…
Taking action with the collection and analysis of survey data to help improve the customer journey and strengthen company processes.
Data collected from online surveys can do so much more than tell you what your customers are thinking. Research is a vital addition to any B2B and B2C marketing toolkit. Successful companies are developing their business strategy - with the aid of data - to make marketing decisions that identify and resolve customer issues.
The team at SmartSurvey (the UK’s leading online survey provider) have put together a guide to demonstrate effective use of online questionnaires and how to utilise surveys to shape your marketing strategy.
Sections covered in this guide include:
The Benefits of Collecting Customer Data
How to Collect Reliable, Honest Feedback
Designing Effective Online Surveys
The Market Research Society (MRS) recently published an article demonstrating that the UK research market has increased by 62% to £4.8 billion. A recent comprehensive…
Tips for brands adapting to Digital from the author of Youtility
Many brands are struggling to adapt to a digital first culture and more seriously, struggling to remain relevant.
It’s clear that brands moving from the industrial revolution to the connected economy need to be doing a lot more than creating a digital marketing dept in their organisational chart. Rather, they need to be adjusting and adapting their culture.
I interviewed Jay Baer, author of the New York Times best seller, Youtility and one of my favourite business books. We discuss the challenges for brands that struggle to grasp “digital”, what brands can do to differentiate themselves in competitive markets and Jay’s latest book, Hug Your Haters.
Q. Many brands struggle to grasp how “digital” is structured within their organisation with many treating their digital activities within a silo -what words of wisdom could you provide brands to adapt a digital…
New research highlights different approaches to engaging retail customers
The DMA has identified four different types of consumers when it comes to brand loyalty. Some customers are always loyal, others only loyal for certain purchases. But whatever their natural propensity for brand loyalty, you need to engage them and build trust. The DMA's 2016 research presented below shows that over half of consumers will stick to a brand that provides good service when they know they could get a cheaper deal elsewhere. In addition in found customers don't particularly like being asked to provide reviews, yet brands are keen to do this. One the flip side, almost half of customers would like to receive free gifts from brands, but only one in ten companies do this. There is clearly currently a big mismatch between consumer desires and brand actions, and this needs to close. Find out more by checking out the infographic below.
Millennials want the same thing as every other age group, it's just the channels for delivering it that have changed.
They have youth, influence, and spending power. They can also spot BS from a mile away, and it’s not easy to win their hearts.
AdWeek calls them “easily the most sought-after demo for marketers and advertisers.”
Others call them “Generation Y.” Whatever you choose to call them, the demographic has reached an important point where their purchasing power is heading towards its peak.
And it’s a huge generation, born anytime between the early 1980s and 2000. And of course there are major differences in life experience and expectations between someone born in 1983 and someone born in ‘99, but the important thing to know about the entire group is that they’ve grown up alongside an information boom. That means they know just how to navigate online to get the info they want,…