The loyalty marketplace is becoming more and more crowded every day. To stand out, differentiating your program is essential. Marketing guru Seth Godin once said, “In a crowded marketplace, fitting in is a failure. In a busy marketplace, not standing out is the same as being invisible.”
The loyalty landscape is changing.
The days of simple loyalty punch cards are behind us. Immediacy and personalization are now the name of the game in the modern loyalty world where consumers expect real-time engagement – in the moment, when it matters. As a result, loyalty has evolved far past a points and rewards engine to become a full suite of sales and marketing tools that includes marketing automation, a customer data platform, CRM, customer engagement, analytics, and more.
Last week at the Loyalty Expo, we were excited to once again join this fantastic gathering organized by Loyalty 360. This year we had the opportunity to attend both as a sponsor, an exhibitor, and alongside several Stellar clients, including CraftWorks, whose portfolio of restaurants and brewery brands include Gordon Biersch Brewery, Rock Bottom Restaurant and Brewery, and Old Chicago Pizza & Taproom.
April is International Customer Loyalty Month and what better time to evaluate your own loyalty program? Regardless of your specific vertical — e.g. restaurant, hospitality or retail — successful loyalty programs all share the same winning formula.
To gain competitive advantage, it’s time to think beyond points and rewards, and ensure your program meets the following five criteria.
When people think about new year’s resolutions, it is typically personal goals such as exercise more / eat healthy, improve work / life balance, save more money, etc. Just as personal resolutions can ground you in a new course of action, business resolutions can drive focused execution for the new year.