Marketers look to learn from loyalty
February 05, 2010 | Internet Marketing
Marketers worldwide are looking to loyalty programs to improve customer retention and value, teach them about what motivates their prospects, and help them keep communications targeted and focused.
Internet users need an incentive to join such programs, and unsurprisingly their biggest draw was financial. More than one-half of Web users also said they would be encouraged to join rewards programs in return for offers and deals that were more relevant to them personally.
On the flip side, Web users’ biggest concern about joining loyalty programs was spam. Marketers also worried club members would find little value added by joining and not enough personalized attention.
More than one-half of marketers told the CMO Council they were using loyalty programs to help acquire and keep higher-value customers. Nearly as many benefited from improved targeting and segmentation, reduced customer churn and the ability to drive repeat, higher-value business. But just 14.8% of marketers reported they were highly effective in leveraging their club members’ loyalty and brand preference.
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