The days of building a fan base are gone. Now its Real-time rewards and instantaneous loyalty. Businesses need to convert and reward customers on the go.
Twitter has released stats around the likelihood of purchase and increase in transactions and sales impact of branded tweets.
Changes in the Loyalty Landscape that are impacting your product and marketing programs
1. Real-time is the real deal. Real-time Loyalty requires that as a brand you sense and respond. It is not built around campaign based marketing programs and it is not adding loyalty points for a grand prize but it is about real-time surprise. It is based on event-based transformation and engagement is across touch points.
2. Find the consumer internet play that closely aligns with your base and align your program around the same. This could mean you align with a known property or a partnership. This could be with a known loyalty provider in your category and market your Loyalty Program to the fan base or the users for the Loyalty provider.
3. Create a Signature Insight. You require a signature insight that is your unique point of view, your USP and how you are truly different. Whatever it is that makes you different, are your unique points and are the ones that you should truly build on.
4. Game Mechanics is the new rocket fuel. it is the new icing on the cake and it is what will generate the engagement you need. If you want more reviews Think Gamification.
5. The payments landscape is also changing for greater location-based and real-time rewards with newer apps and payments built around features that reward real-time location-based behaviour.
6. There are no loyalty islands it’s about who you are connected to and where.
7. Your customers are connected with at least 50 Loyalty Programs in place of 5. now you can sign up with any number of loyalty programs and pay with Square.
8. Awesomeness is expected. You can scale up programs inexpensively given the reach. It is not about gaining a fan base it is about keeping the interest live.
9. Rules of the game are constantly changing and you need to know what works in your category and how you can best integrate it in your Loyalty Strategy.
10. Create Messaging and Contests that give your audiences a chance to interact and showcase their interests that can help you sharpen your insight further.
Source: Top ten Coolest things going on in Loyalty, CIO White Papers and Twitter UK.