The days of mass marketing are long gone. Consumers want personalization and expect more from brands that want their business, making acquiring and retaining brand loyalty increasingly more difficult. One loyalty survey found that approximately one third of consumers will leave their preferred brand for a better price. Another study reported that consumers have 60% higher customer service expectations than they did just one year ago.
While most brands understand these challenges and have built loyalty and rewards programs designed for ongoing and repeat customer engagement, their programs are still struggling. According to one study, 54% of loyalty program members are inactive or opt out of loyalty programs after only a few months.
The problem? Marketers don’t have access to unified customer data that tells them who’s likely to join their loyalty program, and how, where, and when to reach them. They’re sitting on a treasure trove of data, but it’s coming from an array of disparate sources, which means marketers are still grasping at how to bring their data together to target the most likely loyalty members with personalized messaging. If 33% of marketers say that having the right technologies for data collection and analysis is the most useful in understanding customers, it’s imperative to have a solution that doesn’t claim to deliver, but actually does.
Some impressive loyalty program results came through in a recent Forrester Total Economic Impact™ (TEI) report examining the benefits and ROI of using Amperity’s platform. After unifying all their customer data to build actionable customer profiles, and personalizing messaging, loyalty program registration increased by nearly 200% with a 15% increase in email open rates.
After using Amperity, one company said, “Amperity can identify customers that are purchasing who are not [loyalty program] members, so we’re able to target that group and personalize within the content of the email. It was actually insane, I didn’t even believe the numbers. We saw the [loyalty program] registration rate increase by 190%.”
Brands who understand the importance of data quality and make moves to invest in getting their customer data foundation right, experience outsized returns on their loyalty programs. These are the forward-looking brands who truly understand who their customers are and can put them at the center of everything they do.
To learn more about how to increase your loyalty program registration and provide your customers with a personalized experience, read Forrester’s findings here.