A few months back, our CEO Kevin Nix sat down with R “Ray” Wang and Vala Afshar of DisrupTV, Constellation Research’s web series with industry thought leaders. What resulted was an insightful conversation, delving into the world of customer loyalty and experience, noting how far the industry has come and how far it still needs to go.
From loyalty’s greatest area of need to thinking about the entire customer journey, we’ve pulled out the 5 reasons it’s time for you to hit reset on your loyalty program (as told by a seasoned CRM and CX pro):
Wait! What Exactly Has Changed?
When it comes to loyalty marketing, there hasn’t been a lot in terms of change over the past 15 years. Everything is still handled in silos, still campaign driven, and still largely out of sync with the way customers behave. Translation? It’s time to get out a blank sheet of paper.
Rise to the Customer Challenge:
Old world omni-channel organizations make it hard to have a cohesive customer experience. Today’s technology has lead to a shift from omni-channel to “Immersive CX” making it easier to meet customers where they are. With a hunger for a more integrated solution, now is the time to rise to the customer challenge.
Shift your focus from Loyalty with the little “l”:
What’s loyalty with the Little L? It’s old-fashioned points and tiers and rewards. Don’t make the mistake of pigeon-holing your program in this dated way. t’s time to think beyond that. A shift from Little l to Big L takes the weight off the points system and focuses on the personal feeling your customers get, which is what leads them to refer their friends and family. The points become a side benefit, your customers are taking action simply because they love the brand.
No Junk Mail Here:
If you’re constantly spamming your customers with email, you’re breaking their trust. While there is no clear-cut sweet spot, try some a/b testing to ensure that you’re engaging at the right frequency and with the most relevant offer.
It’s About the Complete Experience:
From physically walking into a store or restaurant, to an app, to the offer a customer receives, to personal knowledge, the customer experience should be a complete, frictionless experience. The rewards concept should fall in line here as well. At the end of the day, it’s about the entire journey and if you’re not yet there, you need to start paving the way.
Now that you know it’s time to hit reset on your company’s loyalty program, where do you start?.
A good place is identifying what it is about other programs you like. Our CEO Kevin Nix always likes to ask: what’s your favorite loyalty program and why?