Loyalty and retention marketing programs are evolving. New opportunities exists for brands seeking to increase customer retention and strengthen customer loyalty and brand preference. In the video, I talk to one of the foremost loyalty marketing experts in the industry. He reveals some of the latest trends in customer loyalty and customer rewards programs.
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Chris Jacobs has been involved in more than 80 well known customer loyalty programs. He and I have both been judges for the European Loyalty Awards and we have both presented at a number of loyalty marketing conferences in different countries. So I can positively say that Chris Jacobs really knows customer loyalty and all aspects of it.
Hear about the customer loyalty marketing trends now
When we had a chance to sit down in conjunction with a customer loyalty marketing conference in Sofia, Bulgaria, Chris was happy to share what he sees as the latest trends in customer loyalty programs. Watch the video, learn, get inspired, take notes and then think about how you can use this information to improve.
Loyalty marketing is now more accessible
One of the evident trends in customer retention programs is to make the “controls” available through mobility devices. That would make so much more sense to both brands and customers. After all, we all carry our phone around 24/7. So as a means of identification, mobility is it.
But think about the mobile payment aspects too. Chris Jacobs talks about that in the video. I think that the combination of payment and identification with instant gratification are areas of opportunities for retail- and online brands.
This represents new opportunities even for small retailers. The question is if any of the service providers will manage to acquire critical mass. But let’s leave that question open for another time.
Personally, I think we may see location based services such as Foursquare launch customer loyalty and customer retention programs through the use of their service. Or perhaps we will see a new player enter the market with an offering designed to leverage the new consumer behavior. One that is completely immersed in how the mobility generation behaves, but also can handle the traditional ways of engaging loyal customers.
Will airlines finally catch up or continue their arrogant ways?
As you may have read elsewhere, I am not impressed by how airlines operate their loyalty programs. Take Star Alliance, for example, their retention mechanisms are – at best – outdated. And at worst they are counterproductive. Why do airlines not look at revamping their approach to loyalty and retention programs all together?
My answer is; I don’t know.
In the interview with Cindy Gallop a little while back she talked about change and how we need to reinvent how we do business. She said that we cannot build new systems on top of old systems that aren’t working.
Airlines – in fact the whole of the travel industry – should completely rethink their approach to loyalty and retention. They are guilty of building new systems on top of systems that don’t work. Many of them would do well to to become better at using the profile data they have properly, rather than continue to blast out the same “one size fits all” messages.
Anyhow, I digress. My purpose with this blog post was to share what Chris Jacobs know and not my own personal opinions. So if you missed the video above, do yourself a favor and watch it now.
What to do next?
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- Visit Chris Jacobs at Business Assyst to see how he can help you get more value from your loyalty and retention efforts
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