Next in loyalty: Eight levers to turn customers into fans - Deepstash

Since the pandemic, over 75% of consumers have changed their buying habits, 39% changed brands or retailers, and 79% of those will continue to explore their options.

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Next in loyalty: Eight levers to turn customers into fans

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Offering an incentive to redeem loyalty points can boost sales and incrementally spike revenue by reactivating dormant customer loyalty.

Moreover, companies that promote deep...

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All loyalty programs have members who don't redeem points. This "breakage" reveals issues with redeeming points, members forgetting they've enrolled, unappealing or less relevant rewards, and unach...

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Alliances can give access to new customers or markets, expand benefits, increase brand awareness and provide greater earning options. But partnerships can also backfire

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Many customers are enticed by exciting rewards in loyalty programs but lack sufficient program currency, or points, to access them. This can discourage them from continuing to accrue points...

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Program memberships or spend by members are a good reflection of the broad potential universe of members. However, members can be split into segments: enrolled, active

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Loyalty programs provide valuable data about customers. Leveraging the data into meaningful, actionable segments can drive customer experience.

Segmenting by behaviou...

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Loyalty data can create granular segments of customers.

Building a rapid A/B testing capability is vital to leverage these groups fully. It allows experimenting with new ideas, discarding wha...

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A difficult challenge is accurately measuring the incremental impact of loyalty programs. Unclear key performance indicators (KPIs), complicated ROI calculations, and the need to a...

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