Functionality : Social loyalty
Overview
With the boom in retail media, advertisers are demanding more. A loyalty program adds compliant zero-party data for improved audience analysis, segmentation, ad targeting and a personalized customer experience. Offering advertisers multi-channel access to your loyalty program members expands your retail media inventory.
Challenges
Building a retail media channel is a challenging and expensive proposition that requires extensive customer data, accessible inventory and attribution to sales.
- Limited to transaction and first-party data
- Ad inventory is primarily online
- Hard to measure performance
Expected outcomes
Leverage a strong loyalty program to build a relationship with customers and deliver personalized experiences.
- Collect consensual zero-party data
- Loyalty data powers advanced segmentation and personalization
- Offer ad inventory in email, text and social channels
Capabilities to use
Progressive profiling Advanced segmentation Surveys, quizzes, contests Reporting Social loyaltyOverview
Combat rising marketing and customer acquisition costs.
Challenges
Customer acquisition costs have risen 60 – 70% in the past six years.
- Brand trust is at an all-time low
- Most B2C companies lose 60% of their new customers annually
- Recommendations are the highest-ranked source for new purchases
Expected outcomes
Emotional loyalty is the key driver of word-of-mouth and referrals.
- 86% of loyal customers will recommend a brand
- Referrals have a 30% higher conversion rate, 37% higher retention rate and 16% higher lifetime value
- Recommendations are 50X more likely to trigger a purchase
Overview
Engaged customers spend 250% more than transactional customers. Engage and add value between transactions in fun and meaningful ways.
Challenges
Customers want more than a transactional relationship with your brand.
- Transactional relationships only
- Losing customers to competitors
- Disappointing customer experience
Expected outcomes
Engaged customers spend, share and promote your brand more.
- Add value across journey
- Increased advocacy & referrals
- Create emotional bonds