Optimize loyalty programs with retail customer intelligence
Retailers devote significant portions of their marketing budgets to converting customers, but they should also focus on maintaining relationships with patrons. Research has shown that the greatest amount of business comes from loyal shoppers, not from impulse buyers or browsers. Loyalty programs are a common tactic for drawing customers back again and again, and these strategies can be enhanced with retail customer intelligence.
According to eMarketer, customers now expect greater personalization in retail offers and services. With new technology, merchants are able to tailor their marketing messages and suggest personalized deals to consumers based on their shopping history and preferences. This same approach can improve loyalty programs. The source pointed to RIS News findings that indicated the majority of North American merchants plan to invest in the near future in behavior analytics as well as pricing and communications personalization for their loyalty marketing programs.
Jim Daleen, CEO of AppSuite, also recommended making loyalty services more personal. A sophisticated program, he said, can offer shoppers customized benefits based on information like birthdays and spending milestones. These types of rewards don't just provide customers with incentives – they also make customers feel appreciated and recognized, he noted.
High-end retail technology can help merchants revitalize their loyalty programs by making it easier to sign up customers and gather information about shoppers' purchases.
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