Loyalty marketing: creating value, knowledge and opportunities.
Consumer behaviour is no longer an elusive phenomenon. As an organisation, you can capitalise on the opportunities of tomorrow by taking decisions on the basis of customer data from the recent past. Not without reason, loyalty marketing is increasingly viewed as an integrated business concept. This is a logical development because markets are becoming saturated, consumer behaviour has changed profoundly and traditional marketing communication is becoming less and less effective in actually winning over the customer.
Loyalty marketing: an effective and targeted means by which to find, persuate, retain or win back a customer.
Each phase that the customer goes through can be guided, or at least influenced. Loyalty marketing starts with the existing customer, but also targets potential new customers as well as ex-customers. Besides building up a strong relationship and increasing the return per client, another important objective is the collection of data. This information offers the opportunity to realise clear segmentation of market activities on the basis of customer value. These distinct customer profiles can subsequently serve to guide the marketing process and indicate what must be done to approach your customers, how and with what kind of budget. This will allow you to manage, measure and budgetise your marketing activities effectively.
Loyalty marketing enables you to manage the performance and innovation of your organisation.
The value of customer data cannot be defined solely in terms of increased turnover. One of the less recognised aspects of loyalty marketing is that customer data also provides an insight into the experience and appreciation of the brand or product. Indirectly, it offers a wealth of information about the functioning of the organisation and its customer processes. This is valuable knowledge that can be utilised at the policy level and can form input for further innovation.