Planning to introduce new loyalty programs for your customers in 2018? You may want to consider these…
2017 came with a bang and we have hardly witnessed so many changes in recent years. The recent digital evolution was hard to imagine and it has resulted in speedy progression of consumer awareness. Gone are the days when a huge newspaper ad could convince your consumers. A new age of business emerges and it has been bringing remarkable changes in every aspect of modern marketing ethics. When information are easily accessible everywhere, you can’t sit back and wait for your consumers to knock on your door. You need to be one step ahead to maintain long-term consumer loyalty. The line between public and private sector is slowly evaporating and everyone from SMEs to big corporate honchos are trying to introduce new and technologically advanced loyalty programs to attract their consumers.
The future looks innovative and if you are planning to introduce a new set of loyalty programs for your consumers then you must check the following 5 trends.
1. Transcendental Consumer Experience
New age consumers don’t want to purchase a product, they want to experience it at a personal level. Lives are moving at dizzying speeds and people tend to forget things that aren’t right in front of their eyes. Being present and constant in day to day life has become important and consumers want to be addressed as the same person by the brand across all channels of communication. Brands have started realizing the fact that they need to become their client’s friend through their e-commerce, social media pages and loyalty platform. You need to count each and every available information about your consumers and create a personalized out-of-this-world experience that will make feel special and eventually it becomes easy for them to remember you.
2. Careful Utilization of Visual
Every social media platform has started their own live streaming services. Be it twitter, facebook or instagram. Visuals will surely replace the static mode of communication in the foreseeable future. But you need to utilize it carefully since the competition of scrolling content is getting fierce. With ads popping up in almost every network, advertisers are living in a fear of ad fatigue. We recommend using short and crisp videos that don’t trouble the viewers.
3. Impact of Machine Learning
Currently, businesses are using machine learning for four different purposes. To create user-generated content, to build meaningful conversation with consumers, to predict consumer behavior and to help consumers find products. With rapid generation of data and capability of massive computing power, machine learning has become the most useful way to detect anomalies. Machine learning is very useful to gather appropriate data, introduce personalized reward points for your consumers. It helps gather accurate information in real-time.
4. Instant Rewards Points
We know alerts are annoying but no one can deny the impact of reward point texts from their favorite shopping destination. Millennial are extroverts and they mostly explore the market on their own. They always tend to question the traditional ways and prefer notifications than call on their phones. For example, a push notification to remind insurance renewal is necessary but 20% cashback along with the renewal is an attractive prospect.
5. Travel Experience as Reward Point
Just go through recent promotional offers by 10 different brands, and you will find at least four of them offering luxury gateways to their consumers. Millennial are experimental in nature and they are always ready to explore a new place. Traveling has become easier than before and short city breaks appeal consumers more than cash reward points.
Technology and internet plays vital roles in changing the course of a business in recent years. Don’t hesitate to hire someone if you don’t know the current trends and updates. Your consumers are smarter than you and they know how to explore the market better than you. Keeping pace with changing times is the only way out there.