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eMarketer Webinar: Loyalty Marketing—Creating Stickiness in a Mobile World

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eMarketer Webinar: Loyalty Marketing—Creating Stickiness in a Mobile World

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Marketers of all stripes know that keeping an existing customer is easier and more lucrative than finding a new one, but fostering loyalty can be tough. Topics in this webinar include: What consumers want from loyalty programs; What marketers can do to increase consumer loyalty; How personalization can contribute to loyalty; How mobile has changed loyalty marketing.

Marketers of all stripes know that keeping an existing customer is easier and more lucrative than finding a new one, but fostering loyalty can be tough. Topics in this webinar include: What consumers want from loyalty programs; What marketers can do to increase consumer loyalty; How personalization can contribute to loyalty; How mobile has changed loyalty marketing.

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eMarketer Webinar: Loyalty Marketing—Creating Stickiness in a Mobile World

  1. 1. © 2016 eMarketer Inc. Loyalty Marketing: Creating Stickiness in a Mobile World Yory Wurmser Retail Analyst January 28, 2016 Made possible by
  2. 2. © 2016 eMarketer Inc. Agenda  Trends in loyalty marketing  Drivers of consumer loyalty  Mobile’s effects on customer expectations  Tactics to communicate with loyal customers
  3. 3. © 2016 eMarketer Inc. Trends in Loyalty Marketing
  4. 4. © 2016 eMarketer Inc. Three major trends in loyalty marketing:  Companies are spending more on loyalty programs  Loyalty program membership is growing  Active loyalty program membership is decreasing
  5. 5. © 2016 eMarketer Inc. 1. Companies are spending more on loyalty programs
  6. 6. © 2016 eMarketer Inc. Increased spending on loyalty in part reflects a better understanding of customer retention  Over a third of marketing executives see improved visibility of customer retention and lifetime value (LTV)
  7. 7. © 2016 eMarketer Inc. Better CRM and analytics capabilities allow for a broad range of applications for loyalty data  Leading use of loyalty data is in marketing campaigns
  8. 8. © 2016 eMarketer Inc. Loyalty marketing produces better results than acquisition marketing “We have found most marketers do best when they spend about 70% of their marketing dollars talking to actual buyers, 20% of those dollars talking to people new to the brand and the remaining 10% on people that just happen onto their website that they’ve never tried to acquire.” —Ric Elert, President, Conversant
  9. 9. © 2016 eMarketer Inc. Loyalty is fleeting for the majority of customers  Less than half of customers stayed loyal to US CPG brands over the course of a year
  10. 10. © 2016 eMarketer Inc. Levels of loyalty vary only slightly by age cohort  Baby boomers are slightly less loyal to brands than millennials
  11. 11. © 2016 eMarketer Inc. Roughly 75% of US loyalty card holders say they are more likely to shop at stores that offer loyalty points
  12. 12. © 2016 eMarketer Inc. Four reasons for increased marketer spending on loyalty programs: 1. Better CRM and analytics systems make the data benefits for businesses larger 2. Better capabilities in targeting customers directly 3. Better understanding of the importance of retention marketing 4. Programs succeed at drawing people into stores
  13. 13. © 2016 eMarketer Inc. 2. Loyalty program membership is growing  In 2014, there were 3.3 billion memberships in the US—roughly 10 per resident
  14. 14. © 2016 eMarketer Inc. Rising loyalty program membership is occurring across most sectors
  15. 15. © 2016 eMarketer Inc. Two reasons for increased loyalty program membership: 1. Companies are spending more to establish programs and entice users to join 2. Signing up has become easier with mobile apps and point-of-sale (POS) systems
  16. 16. © 2016 eMarketer Inc. Two reasons for increased loyalty program membership: 1. Companies are spending more to establish programs and entice users to join 2. Signing up has become easier with mobile apps and point-of-sale (POS) systems NEITHER HAS TO DO WITH TRUE CUSTOMER LOYALTY
  17. 17. © 2016 eMarketer Inc. 3. Active participation in programs is falling  In 2014, 71.5% of US loyalty program memberships were “active”  In 2015, it was roughly 50%
  18. 18. © 2016 eMarketer Inc. Drivers of Consumer Loyalty
  19. 19. © 2016 eMarketer Inc. Loyalty is a product of two components: Value $  Transactional  Rational Customer Experience  At points of engagement  Emotional
  20. 20. © 2016 eMarketer Inc. The value side is important: Discounts are a cost of entry “There are certainly rising expectations today around discounting as the cost of entry for loyalty programs.” —Jeff Berry, Research Director, Colloquy “Never discount … the transactional side. While it is perhaps not the most important thing, it is still a very important concept and a part of most every program out there.” —Geoff Smith, CMO, CrowdTwist
  21. 21. © 2016 eMarketer Inc. Saving money is the most common reason for joining a loyalty program, including for millennials
  22. 22. © 2016 eMarketer Inc. But discounts without a deeper connection actually reduce loyalty “For far too long, ‘loyalty programs’ have really just been a mechanism for distributing price discounts, which really has virtually nothing to do with loyalty. It frankly can create precisely the opposite behavior of loyalty. It can create loyalty to the lowest price, wherever that lowest price can be found. —Katie Casavant, CEO, Kantar Shopcom
  23. 23. © 2016 eMarketer Inc. Consumers join loyalty programs for discounts, stay for relevance of rewards and simplicity
  24. 24. © 2016 eMarketer Inc. Loyalty is an emotional state and depends on the customer experience “Loyalty is an emotional state. The way to drive real loyalty is to create engagement through experiences. … Consumers are looking for a seamless and pleasant experience with companies, more than they’re looking for some kind of future discounts.” —Mark Taylor, Senior Vice President, Digital Customer Experience, Capgemini Consulting
  25. 25. © 2016 eMarketer Inc. Four key elements of an engaging experience: 1. Relevant offers 2. Alignment with lifestyles 3. Exclusivity 4. Gamification
  26. 26. © 2016 eMarketer Inc. 1. Relevance: People expect an even value exchange for their data “A huge frustration for customers [is that] they’ve given you all this data. They’ve stated they’re interested in your brand. They’re shopping physically there and they’re willing to download an app and opt in to the various relationships with you, and you’re still not using the data.” —Gabe Weiss, Digital Customer Experience Strategy Lead, SapientNitro
  27. 27. © 2016 eMarketer Inc. Lack of relevance is the biggest complaint about loyalty programs
  28. 28. © 2016 eMarketer Inc. 2. Alignment with lifestyle
  29. 29. © 2016 eMarketer Inc. Successful loyalty programs align benefits with brand positioning
  30. 30. © 2016 eMarketer Inc. ‘Aspirational’ consumers want brands aligned with their values “Aspirationals are most driven to the brands that are delivering innovation, embedding purpose and positive impact ... in a way that is on performance or better, and on price parity or better. It informs purchase decisions, purchase intent, loyalty and evangelism.” —Raphael Bemporad, Founding Partner and Chief Strategy Officer, BBMG
  31. 31. © 2016 eMarketer Inc. Significant portion of consumers want programs to align with their personal values Percentage of internet users in North America who consider donations to charities an important loyalty program benefit: Millennials: 30.0% Gen X: 30.0% Baby Boomers: 31.5% Source: CrowdTwist, June 2015
  32. 32. © 2016 eMarketer Inc. Brands increasingly incorporate social responsibility into branding—and loyalty Source: Toms.com
  33. 33. © 2016 eMarketer Inc. 3. Exclusivity: Strongest impact with younger consumers 25% of millennials joined a program in the past year to attend a members-only event, compared with 16% for the US population Source: Colloquy
  34. 34. © 2016 eMarketer Inc. Pepsi lets members cash in points for exclusive experiences  Members can earn points for hanging out with other members  Members get access to exclusive events, concerts and trips Source: iTunes
  35. 35. © 2016 eMarketer Inc. 4. Gamification: Turning participation into the reward “[Loyalty marketing] needs to really help you create that sense of accomplishment and that sense of progress, and give you meaningful feedback, but most programs these days don’t because they’re essentially the same, exact program over, and over again.” —Ankit Shah, Managing Director, Dopamine
  36. 36. © 2016 eMarketer Inc. Starbucks and Target create loyalty experiences that reward participation Starbucks Target Source: iTunes Source: Cartwheel app
  37. 37. © 2016 eMarketer Inc. Mobile’s Effect on Consumer Expectations
  38. 38. © 2016 eMarketer Inc. 1. Consistent experience across channels 67% of US consumers in an iVend study said that it was “very important” or “somewhat important” for retailers to have an integrated view of them across channels Source: iVend, December, 2015
  39. 39. © 2016 eMarketer Inc. 2. Immediacy  Real-time reward redemption can run as high as 70% to 80%, a figure that drops in half when it’s offered in a follow-up email two hours later (Source: Ifeelgoods) “Customers are willing to even pay more in points than they typically would in order to receive them instantly.” —Sean Claessen, Executive Vice President, Strategy, Bond Brand Loyalty
  40. 40. © 2016 eMarketer Inc. 3. Real-time relevance “The messages we deliver with the highest engagement rates are those data-driven messages that have a personalized context, that are based on both the historical profile of the customer and what are they doing in real time.” —Lars Albright, CEO, SessionM
  41. 41. © 2016 eMarketer Inc. Mobile Loyalty Channels
  42. 42. © 2016 eMarketer Inc. 1. Email: Still the leading channel for loyalty marketing  Nearly three times as many US retailers use email marketing as offer official loyalty programs
  43. 43. © 2016 eMarketer Inc. Majority of smartphone owners use email daily on their phones
  44. 44. © 2016 eMarketer Inc. Dynamic content is gaining traction in email marketing 32% of US marketers use dynamic content Source: The Relevance Group, December 2014
  45. 45. © 2016 eMarketer Inc. Email works well when geared toward personal preferences and points in the customer lifecycle “The odds of opening an email right then when you’re at the store is probably a little lower than a push notification on a smartphone. [But] keeping that overall customer lifecycle in mind and the touchpoints that you’re creating along the way, I don’t think it necessarily takes away from the power that email has.” —Cynthia Price, Director of Marketing, Emma
  46. 46. © 2016 eMarketer Inc. 2. Loyalty apps: More than a third of US smartphone users planned to use apps to link to a loyalty account for holiday shopping
  47. 47. © 2016 eMarketer Inc. Most consumers do not use a retailer app 25% of US internet users use a retailer app (excluding Amazon) Source: TSYS, June 2015
  48. 48. © 2016 eMarketer Inc. It’s very hard for retailers to break into consumers’ app rotation  The largest share of US smartphone owners use only four to six apps per day
  49. 49. © 2016 eMarketer Inc. 3. Mobile wallets: Simplified loyalty membership management and wide-scale push platform “In terms of adoption, we are hoping that it’s much easier to get people on board with passes [than apps] because they don’t have to download anything. It’s one touch. These are people who have already opted in to email, so this is just incremental.” —Jonathan Wall, CTO and Co-Founder, Index
  50. 50. © 2016 eMarketer Inc. A majority of US smartphone owners express an interest in storing loyalty cards in mobile wallets
  51. 51. © 2016 eMarketer Inc. Mobile wallets are still early in their adoption life cycle
  52. 52. © 2016 eMarketer Inc. 4. Social media: Nearly a third of US loyalty card members follow the brand on social media
  53. 53. © 2016 eMarketer Inc. Social networks draw the biggest share of US users’ time spent with mobile apps
  54. 54. © 2016 eMarketer Inc. Facebook Messenger has added new business messaging tools “This is a unique opportunity for businesses to interact with people both where they’re already spending their time and … also in this context of one to one.” — Benji Shomair, Director of Product Marketing for Pages, Facebook Source: Facebook
  55. 55. © 2016 eMarketer Inc. 5. Clienteling  Only 6% of retailers in North America can identify a customer on store entry, but nearly 40% expect to be able to by mid-2017
  56. 56. © 2016 eMarketer Inc. Many consumers want more in-store personalization 23% of North American consumers wish the personalized experience they have online could be replicated in-store Source: iVend, December 2015
  57. 57. © 2016 eMarketer Inc. Recap  Marketers are spending more on shoring up the loyalty of fickle customers  Loyalty program membership is increasing, but active participation is decreasing  Although value considerations are important, lasting loyalty is a more emotional connection  Mobile has raised consumer expectations for channel consistency, immediacy and real-time relevance  Email is the leading loyalty channel, but apps, mobile wallets, social media, and mobile-enabled clienteling can deliver real- time engagement
  58. 58. Built On
  59. 59. Often challenges with executing loyalty strategies get in a marketer’s way… Silverpop Customers Drive Personalized Interaction Strategies Every Day • CRM Synch • Data Integrations • Useable Insights • Capturing Behaviors • Scoring Activity • Segmenting Individuals • Organized Content • Dynamic Rulesets • Marketing Automation  Getting access to critical data  Building a single view of the customer  Delivering relevant content to each customer  Providing a consistent customer experience  Interacting with customers in real time
  60. 60. Client Case Studies  Synching CRM Systems  Develop Contact Insights  Leverage Marketing Automation  Implement Web Tracking  Listen to Customer Behaviors  Create Scoring Models See For Yourself… Silverpop.com/behavioral-marketing
  61. 61. Quickly design and automate consistent cross-channel experiences Make better decisions and deepen customer engagement with purpose-built analytics Increase marketing agility with a platform that easily integrates with other customer data sources and applications Gain faster time to ROI through a comprehensive set of cloud-based marketing solutions built on Silverpop Engage With Silverpop & IBM Marketing Cloud you can:
  62. 62. Agility to Innovate Analytics for Impact A New Way to Work The IBM Marketing Cloud built on Silverpop Engage
  63. 63. ibmmarketingcloud.com or silverpop.com Thank You
  64. 64. © 2016 eMarketer Inc. Learn more about digital marketing with an eMarketer corporate subscription Around 200 eMarketer reports are published each year. Here are some recent reports you may be interested in: Q&A Session Made possible by You will receive an email tomorrow with a link to view the deck and webinar recording. To learn more: www.emarketer.com/products 800-405-0844 or webinars@emarketer.com Yory Wurmser Loyalty Marketing: Creating Stickiness in the Mobile World  Beacons for Retailers: Beyond the Hype  Loyalty Marketing: Creating Stickiness in a Distracted World (Forthcoming, February 8, 2016)  Retail Email Marketing: Benchmarks and Trends in the US  US Mcommerce 2015: eMarketer’s Forecast and Trends

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