C-suite Call To Action
The one-two punch
1 Get PersonalTrue personalization comes from knowing what your customers need today while also providing a line of sight to their unmet needs, which could be even more powerful. Collecting individualized data allows brands to personalize not only communications and offers, but also products, channels and services.
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Use loyalty data to understand your best customers – or risk losing your best customers.
- When we look at reasons why members stopped participating in loyalty programs, 21% of members said they will abandon a loyalty program if it doesn’t provide relevant rewards.
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Use loyalty data to target customer segments to keep them coming back (and spending more).
- Only 30% of companies are using loyalty data to help them develop customer and member segmentations.
Customer data insights can flow to other parts of an organization to inform strategy – including merchandising, operations, sales and finance – putting the customer at the center of business planning. Here are some examples of other customer data sets:
- Operational (which customers or segments transact on which channel)
- Profile (customer demographics and psychographics)
- Social (what your customers are saying about you)
- Survey (NPS or any other customer satisfaction scoring)
Use loyalty identifiers to form a 360° view of customer groups, thereby driving better business decisions
and optimized spend.