Data, data, data.
Every day there are news stories about data, privacy, and changes to how many of us have collected data that we’ve depended on for years to fuel our acquisition efforts. It’s clear that a dramatic shift is underway when P&G enlists China’s help to collect iPhone app usage data without the help of Apple.
But, did you know, there are other ways to get this data that help you and your customers? We’re talking about loyalty.
Customer loyalty strategies deliver the most 1st-party data at scale. To talk about this, let’s flip the typical way you think about loyalty and loyalty programs. Consider this simple application:
A customer loyalty strategy starts with a committed two-way value exchange between the customer and the brand. Customers commit to sharing their data and identifying themselves at every touchpoint with the brand. In exchange, the brand promises to be a good steward of the customers’ data and deliver better experiences using that data, plus they promise to deliver these experiences in a way that provides additional benefits and greater ease.
This is how you collect 1st-party data at scale.
The Annex Cloud Loyalty Experience Platform is the only loyalty solution that’s modular, meaning you can start with this simple value exchange across all channels, including social media. Over time, if you decide you’d like to make things a little more interesting with things like points or tiers, you can add those features—across all customers or by segments. It’s up to you. You have all the flexibility you need. Plus, you’ll have the Annex Cloud strategy and success team to help guide you when/if you want to add extra features.
While all organizations will benefit from this approach, CPG and manufacturers can gain significant advantages. Since COVID hit, many have flocked to eCommerce to deliver products and collect customer information. Loyalty is a terrific additive to your strategy. With loyalty, you can engage a much broader audience.
Take for instance one of our clients that sees about 600K unique purchasers annually on their website. They’re currently at 2.5 million members in their loyalty program with an expectation to get to 10 million over the next year or so.
Intrigued? Let’s schedule a time to discuss your needs and how our solution can help you exceed your goals.