Loyalty Trends in 2015
Loyalty Marketing has been a constant space for innovation and has undergone various reforms in past few years. The changing market space, customer demands, competition etc. have warranted continuous upgrades in technology and marketing strategy in Loyalty Domain. 2015 can see enhancements in existing strategy and also new technology, to Attract - Engage - Retain customers. While customer remains the focal point in Loyalty Marketing strategy, the means to reach out and close a transaction can be the primary focus in upcoming year.
Marketers have realized the essence of Immediate Gratification towards customer as this brings in high percentage of repeat purchase. A 'Now over Tomorrow' approach can be the mantra for Loyalty marketing strategist to make the customer feel special. Anticipatory Marketing can outdo the traditional 'Wait and Watch' approach, wherein Big Data Analytics can be used to predict customer purchase behavior and provide tempting products, every time the customer logs in to the shopping portal. Over past years we have observed that as long as the value of data exchange is enticing, consumers are willing to allow brands access their data. Therefore marketers will to move beyond basic segmentation to offer truly personalized experience.
On the technological front, integration of various technology will remain a major TO DO for loyalty marketers. Highly integrated systems are bound to provide more personalized experience towards the customers. Geo- Fencing is another exciting area which will gain momentum, using GPS technology to track and offer real time offers/rewards to customers. Enriching online experience and connecting with customer via Chat engines can also be areas where marketers can focus upon.
Although the above mentioned points can be some new variation in the Loyalty marketing strategy, Loyalty Marketing in 2015, will mostly be influenced by the below accelerators.
Leading organization are already convinced that Loyalty Marketing is not only a platform to retain customer, but also is highly profit making. Therefore in 2015, we can expect exciting innovation towards both technology and customer attraction/retention strategies.