In today’s ever-changing loyalty landscape, how can a brand stand out from the crowd? How can they differentiate themselves from the competition and innovate their loyalty programme? For me, this is where transformation comes in. Brands must look beyond the traditional rewards points-based programme and focus more on providing an experiential customer experience, to build that strong emotional brand connection, with their customers. In Epsilon, we see this as evolving from a 1:1 to a 1:YOU experience. So, what steps can loyalty marketers take to enhance and transform the customer experience for their customers?
Estimated reading time: 44 minutesBuilding customer loyalty is not easy. Brands and loyalty professionals need to understand what’s truly important to their customers today and develop meaningful loyalty experiences that turn casual customers into lifetime fans. But how do you do this? It's important that brands take the time to outline a strategy of how they can build, maintain, and power lifetime connections over the course of their customer’s lifecycle. And, like any relationship, it starts with getting to know them.
Estimated reading time: 4 minutesWhen was the last time you heard an incoming CMO say the business they are joining had a martech stack to die for; everything was optimal and there is no reason to change any of the existing technology favoured by their predecessor? Probably never.
Estimated reading time: 5 minutesThe single greatest expense in a loyalty programme is managing the redemption liability - the eventual cost to your company of the redemption of all outstanding loyalty points. Due to the impact of Covid-19, many loyalty programme managers are facing increased pressure from stakeholders and their financial teams to manage the liability their programmes have created.
Estimated reading time: 6 minutesOur world has changed – COVID-19 has fundamentally changed the way we live our lives and how we go about our day-to-day activities. Whether it’s continuing to work from home, the weekly shop, home schooling our children, or planning for special events in our lives. With all these changes, it has meant brands are having to take a closer look at how they engage and connect with their customers.
Estimated reading time: 7 minutesLuxury brands lose half of their top customers every year, according to new research from Epsilon and The Luxury Institute: “The New Face of Luxury: Breaking Down the Myths and Stereotypes of the Luxury Shopper.” Why? ... Read More
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