The Week in Retail: For Love or Money

//The Week in Retail: For Love or Money

For Love or Money 2015 is a fantastic 70-page report on Australian loyalty programs and their impact on customer loyalty. The results from this study are benchmarked against 2014 and 2013 research studies. 28 Australian retail loyalty programs are reviewed and new insights on brand loyalty and loyalty programs are shared. A number of other in-depth reports and insightful infographics can be downloaded for free from www.theloyaltypoint.com.au. The Loyalty Point provides brands with best practices to improve their customer loyalty and retention programs and strategies. (The Loyalty Point)

CRMtrends has a comprehensive loyalty marketing best practices section with everything from the history of loyalty programs to the pros and cons of different types of loyalty programs. There’s even a comprehensive loyalty checklist developed by a top Ogilvy & Mather strategist, Michael Szego. (CRMtrends)

How often do we really use loyalty cards and how often do we redeem points and receive actual rewards? Richie Mehta explores alternative ways of generating customer loyalty other than with cards or points to keep customers engaged and coming back for more. Making customers feel special, offering deals that are “always on” and giving customers a little extra are just some ways to create “organic” loyalty. (Econsultancy)

Ritchie Mehta also provides a four step guide to help build ‘earned’ before ‘bought’ loyalty with customers in order to create stickier relationships. The brand must be aligned with the customer’s values, propositions must meet and exceed customer requirements, and exceptional and novel experiences must be delivered.  (Econsultancy)

Gaining consumer loyalty can be especially challenging for luxury retailers who cannot rely on coupons, discounts and promotions like other merchants, which would adversely impact the elite brand image. In Mi9 Retail’s guide, “Loyalty and the Luxury Customer”, we explore the five ways that luxury brands can connect with their customers using CRM and Clienteling as the foundation for delivering personalized interactions, experiential rewards, proactive outreach, omni-channel experiences, and with a global reach. (Mi9 Retail)

Feature photo source: Advance America

2015-09-18T10:10:44+00:00 September 18th, 2015|Articles|