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As we head into 2023, brands are looking to experts to determine how to invest in customer loyalty effectively. Loyalty360 recently released their State of Customer Loyalty Report for 2023 and we asked Brierley — who designs and optimizes loyalty and engagement solutions — to provide their insights into what trends they expect to see this year.
Mark Johnson, CEO of Loyalty360, spoke with Don Smith, Executive Vice President and Chief Consulting Officer for Brierley about how to leverage customer data to effectively drive emotional loyalty and engagement.
Brands Should Revamp Their Loyalty Programs in 2023
Many brands are starting 2023 with established loyalty programs, that they haven’t changed in years. As a result, they lack both customer engagement and interest. Brierley spends a lot of time working with these kinds of programs, analyzing them, and figuring out how they can be revamped.
“There’s not a shortage of loyalty programs,” says Smith. “There is a shortage of differentiating, fun, experiential loyalty programs.”
To Brierley, programs that rely on do/get transactional solutions miss out on the potential of their programs. Without optimization, this kind of small incentive structure will either end up collecting dust or becoming obsolete.
Providing discount value through a points system is good for the consumer, but also provides the business with a significant amount of data on consumer behavior. Businesses need to revamp their loyalty programs to incorporate these data sets into personalized and differentiated experiences for their members. This kind of design allows businesses to build deeper relationships with the customers, inspiring loyalty beyond earning a discount.
Brierley helps businesses take this data and use it to determine what product or service they should be using and then lead them to those adjacent behaviors. In successful loyalty programs, the business’s relationship with its customers allows them to drive these behaviors in a way its members accept.
“Look at places where [members] stub their toe in the brand interaction, rise up to meet needs, anticipate what they need, or just delight them with something that’s really relevant,” says Smith.
To find this data, Brierley recommends engaging members beyond the transaction, providing rewards for browsing or trying products in store, sharing content, providing feedback on styles and style guides. Customers look for this kind of interaction, because they feel like their input is valued and they get rewarded for the engagement without spending anything. Younger customers especially engage with this kind of program, because the experiential rewards and differentiated perks feel exclusive.
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