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
Overview
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
Capabilities to use
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