The one investment you need to make this year is...
Loyalty.
Seriously. We're not just being biased here. Read on.
Want to personalize63% of marketers are struggling with data-driven personalization.
Want to solve for the huge churn from one transaction to the second and third transaction? Increasing retention by 5% can yield 25% to 95% increase in profits.
Want to create a shared, single view of customers across all business units? 
 

SFDC-Chart-Marketing-Challenges-(4).jpg

Want to create a cohesive customer journey across disparate channels and devices?
You are not alone in your challenges. And yes, loyalty is your best answer. 
 [graph from SFDC]
From the Salesforce State of Marketing, Fifth Edition Report

But don't think of "loyalty" in the traditional sense. Well, you can think of it that way if you are a fan of points as a gamification motivator. But you don't have to. 
Loyalty strategies can be as simple as a promise from you to your customers for a more personalized experience and for benefits based on your relationship.  
 
By instituting a formal loyalty initiative, you are able to get a commitment from your customers to:
- Allow you to collect their data - and use it! - respectfully within data privacy regulations
- Raise their hand and tell you how and when they are connecting with your brand 
- Tell you about themselves, who they are and what they really want
 
By instituting a formal loyalty initiative, you are able to:
- communicate on a truly 1:1 basis with each customer 
- create and understand customer behavior and segments
- create unique and accurate customer journeys
- track customer behavior real-time and shift as soon as new behaviors begin 
 
Okay, you say, but it’s really expensive and a hassle. That’s the catch. It isn’t. Loyalty platforms and supporting services are less than 10% of what most organizations are spending on new acquisition in an effort to stem that churn issue. And it's an investment that yields 7X+ ROI and can be implemented within a matter of weeks.

So, as you're preparing for your 2019 goals, consider how an affordable solution such as a robust loyalty platform can empower your personalization for pennies on the dollar, stem churn rates and give you an omni-channel, comprehensive view of your customer.
 
 

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