- April 30th, 2014
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April 30: Loyalty Links & Likes
1. 5 Points to Make Your Loyalty Rewards Pay – Troy Media
For millions of Canadians, rewards points are a good as money in the bank. The fact that so many retailers have reward programs speaks to their success as a marketing tool, but consumers may need a strategy to make them pay.
2. Why CMO Leadership is Essential to Data-Driven Marketing – Forbes
Today’s CMO’s face a key leadership challenge as they shift their marketing organizations to take advantage of the data revolution, but getting your team to take advantage of this new paradigm is not easy.
3. Fears for Tiers: The 2014 COLLOQUY Study on Attitudes Toward Membership Status in Loyalty Programs – COLLOQUY
As today’s loyalty programs tweak their tiers and fuss with updating their value proposition it begs the questions: Are tiers still producing the intended results? And if not, what are the best practices when building offer structures into different tiers?
4. If Customers Knew How You Use Their Data, Would They Call it Creepy? – Harvard Business Review
There is so much promise in what data can do, opening up opportunities for optimization and uncovering insights from correlations. But while data is flowing in novel ways, for most consumers it’s all hidden in a big data black box.
5. Should I Focus on Existing Customers or Work on Adding New Ones? – The Globe and Mail
It’s widely held that it’s five to 10 times more effective to sell more to existing customers than it is to find new ones. Getting the most out of your existing customers is not only cheaper, but the lead time will be shorter, allowing for better customer service, brand messaging and customer loyalty.