mercredi, juillet 22, 2009

Rewards Programs Adapt to the Recession

Despite the recession, U.S. consumer participation in rewards programs is on the rise across all demographic segments, according to COLLOQUY research released today. The study reports a 19% participation growth by the general population since 2007.

Consumers are leaning on loyalty programs to stretch household budgets further by earning rewards for their purchases. The retail category demonstrates the highest positive impact in reward program attitudes, with 75% of 2,152 surveyed reporting a net neutral or positive effect on their program participation as a result of the economy. The Financial Services sector remained relatively flat, with 52.7% reporting "no difference" in the impact of the recession on program participation.


  • One-third of consumers find retail loyalty programs "more important" when battling tough times
  • 18 to 25 year old Millennials represent fasting growing demographic
Loyalty marketing programs recognize and reward the best customers of a business. The statistics are included in COLLOQUY’s latest white paper titled, "After the Meltdown: Consumer Attitudes and Perceptions About Loyalty Programs in the Post-Recession Economy." The paper is available for a free download at www.colloquy.com/whitepapers.

Source :
Colloquy

vendredi, juillet 17, 2009

Five Ways Social Marketing can Improve Customer Loyalty

An article in multichannelmerchant.com says: "Social marketing programs are not about hard sells to your customers. Rather, social marketing programs should be about connecting with your customers for the long-term —on their terms—and sharing information and experiences."

Source : multichannelmerchand.com

mercredi, juillet 15, 2009

Rt: 10 Tips for Building Customer Loyalty

Sustaining a loyal client base is one of the biggest challenges that businesses face each day. You may have hundreds of competitors, so how can you market your product to obtain consumer loyalty? Consumer loyalty comes from attaching a certain perceived value to your product in the mind of your consumer. In order to create this perceived value you have to establish relationships and trust with your customers. Here are some useful tips to help companies maintain and generate loyal customers:

#1 How is your earning rates for loyalty program rewards? Analyze earning rates by segments to understand engagement of target segments.

#2 Have you analyzed your reward program redemption rates. Who redeems? What do they buy? What’s the average sale at redemption?

#3 For your loyalty rewards program, which customer earn the rewards and are not redeeming. Do you have a plan to engage them?

#4 Hard benefits, like rewards, are just one part of the value proposition. What are your soft benefits that build the emotional connection?

#5 Enhance your loyalty program value proposition by tailoring soft benefits to resonate with key growth and retention customer segments.

#6 Tiering your loyalty program gives your customers a reason to give you a greater share of wallet and creates upward migration in spend.

#7 Loyalty benefits should be a mix of hard and soft benefits. Hard benefits reinforce value and soft benefits build emotional connection.

#8 Create an Internal Communications plan for your loyalty program to educate everyone on the value to the organization and to the customer.

#9 Internal communication plan should educate, motivate and engage employees in supporting the loyalty program and company goals.

#10 Internal communication plan for your loyalty program need to include a dashboard of results at the program, customer and employee level.

Source : 10 Tips for Building Customer Loyalty by

lundi, juillet 13, 2009

Google & Virgin America's Online Scavenger Hunt Campaign Rocked

Here's more proof that fun is what brand-building and customer loyalty are all about these days. Love this Google-Virgin scavenger hunt!

Google Apps partnered with Virgin America to launch a unique campaign where they invited people taking Virgin America flights all day, as well as those sitting on computers at home or work to participate in an online scavenger hunt for clues to answer questions they would pose at you on a website called "Day In The Clouds."

http://www.dayinthecloud.com

vendredi, juillet 10, 2009

Millennials Fuel 19% Jump in Loyalty-Program Participation

Despite the current recession, US consumer participation in loyalty and rewards programs is rising across all demographic segments and has grown 19% since 2007 among the general population, according to a study by Colloquy.

Activity in specific demographic segments is up even more, the research found. Participation by Millennials (ages 18-25) - which represent the fastest-growing demographic for loyalty programs - has soared 32% since it was last measured in 2007, while participation by women is up 29% in the same time period.

Source : Colloquy

jeudi, juillet 09, 2009

iMedia Connection: How to turn your email program into a dialogue

Building greater customer dialogue into emails has a number of tangible benefits. Check out these ways to liven up messages and add the element of conversation.