The Marteq Alert
3.9K views | +0 today
Follow
Your new post is loading...
Scooped by CYDigital/marteq.io
Scoop.it!

4 Guidelines to Set Up Your Rewards to Replace Cookies | CustomerThink

4 Guidelines to Set Up Your Rewards to Replace Cookies | CustomerThink | The Marteq Alert | Scoop.it
79% of consumers said they would prefer their brands to invest less in Facebook ads and more in their loyalty programs. Backing up that point: 45% said they made purchases via direct email offers in the previous year, beating out banner ads or social media ads.

Here are a few guidelines to navigate the countdown to the cookie fade and zero-party data’s rise.

Know the ingredients to get there. How long do they retain customer data? How is it stored and protected? How extensively can their analytics hyper-personalize the experiences? What tools do they use to collect self-reported data (such as web surveys) and how fast do they process the insights? What are their machine learning capabilities? 

Prove your worth in the value exchange. According to research highlighted in the webinar, 42% of consumers say they get irrelevant offers and 30% said they received “creepy” personalization based on information they did not share with brands. Zero-party data eliminates that frustration because it invests an individual’s data exclusively into experiences for that person. T

Avoid entanglements through all-party collaboration. Along the way to bringing members into the zero-party plan, organizations should use their insights to locate and simplify overly complex areas in the data pipeline. 

Make loyalty a company-wide endeavor. Once the tools and guidelines are simplified and formalized, the organization can embed its one-to-one-focused loyalty initiative into its broader customer-engagement platform. 
CYDigital/marteq.io's insight:

If you have a rewards/loyalty program, you can install a zero party data program and benefit from doubling your conversions.

 

Marteq quickly delivers consumer-controlled zero party data so that brands, agencies and consumer research panel firms can gain deeper consumer insight and directly engage those consumers within the application. https://www.marteq.io #martech #marketing

Scooped by CYDigital/marteq.io
Scoop.it!

Why increasing loyalty 5% increases profits 25-95% | Fast Casual

Why increasing loyalty 5% increases profits 25-95% | Fast Casual | The Marteq Alert | Scoop.it

Zero-party data is data a consumer proactively shares with a brand and may lend insights into preferences, purchase intentions, personal context, and the ways the individual wants the brand to recognize them. This is because consumers have become more willing to exchange their data for personalized offers and a more authentic engagement with brands they love. Customers want engagement, and they want to feel like they are getting value from the program. 

  • In fact,79% of consumers would rather brands invest in loyalty programs than social media advertising. 
  • According to research by marketing firm Kantar Worldpanel, nearly half (47%) of U.S. consumers have used some sort of loyalty program. And while these numbers may seem small, they represent an important shift from just a few years ago when less than one quarter (24%) had ever heard about such programs. Today, nearly two-thirds (65%) say they've tried at least once or twice to earn points with a loyalty program. 
  • 79% of customers will only consider shopping with brands that show they understand and care about them."
  • About 50% of consumers say their primary reason for joining a loyalty program is to earn rewards on everyday purchases. 
  • The average consumer belongs to 14.8 loyalty programs but is only active in 6.7 of them.
  • Increasing your loyalty following just 5%increases profits by 25% to 95%. 
CYDigital/marteq.io's insight:

ZPD and Loyalty Programs compliment each other, as the rewards schema powers the ZPD effort.

 

Marteq delivers consumer-controlled zero party data so that marketers & researchers can gain deep consumer insight. https://www.marteq.io #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Guide to Loyalty Marketing Automation | CustomerThink

Guide to Loyalty Marketing Automation | CustomerThink | The Marteq Alert | Scoop.it

Here are some statistics on a successful loyalty program:

 

  • The top 10% of loyal customers spend more by three times compared to your regular customers. In addition, the top 1% of your loyal customers are even spending more than 5 times compared to your regular customers.
  • It is much cheaper to keep an existing customer compared to convincing others to believe in your brand. It requires much investment and effort.
  • The profitability of your brand will increase by 75% if the customer retention bumps up to 5%.
CYDigital/marteq.io's insight:

D2C brands must incorporate a zero party data + loyalty program as a part of its go-to-market strategy. 

 

marteq.io is preparing a FREE pilot program for its Marteq application. Contact joe@marteq.io for more information and to see if you qualify. #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Mtn Dew opens 'direct-to-gamer' store for DTC sales, loyalty rewards

Mtn Dew opens 'direct-to-gamer' store for DTC sales, loyalty rewards | The Marteq Alert | Scoop.it
  • PepsiCo's Mtn Dew Game Fuel this month opened an online store for direct-to-consumer sales of its full line of soft drinks aimed at video game fans. To celebrate the launch, Mtn Dew is running a sweepstakes to give away a Sony PlayStation 5 gaming console and a copy of the game "Call of Duty: Black Ops Cold War," per an announcement.
  • Mtn Dew fans who register by Jan. 31 at the GameFuel.com website to join the brand's new Victory Pass Rewards loyalty program will be entered for a chance to win the grand prize. Every time rewards members buy cases of Mtn Dew Game Fuel for free delivery, they can unlock exclusive digital content, discount codes and access to limited-edition merchandise.
  • Billed as a "direct-to-gamer" offering, the website can help PepsiCo collect first-party data on younger consumers who are interested in gaming and esports. Starting today, Mtn Dew's first product offering includes a limited-edition collectible can inspired by video game celebrity Dr DisRespect with the purchase of any case of Game Fuel from the online store, while supplies last.
CYDigital/marteq.io's insight:

What I would love: that to participate, the consumer would need to download our app so that they could gather and control all their online data, and if they so desired, exchange it with PepsiCo for loyalty points. It's a straight-in path for extended zero party data, leading to the highest levels of personalization.

 

marteq.io is preparing a FREE pilot program for its Marteq application. Contact joe@marteq.io for more information and to see if you qualify. #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Modern Loyalty Programs: The Essential Guide to Succeed in Today's Loyalty Landscape - The Wise Marketer

Modern Loyalty Programs: The Essential Guide to Succeed in Today's Loyalty Landscape - The Wise Marketer | The Marteq Alert | Scoop.it
What are the key tenets of a modern loyalty program? It’s a constantly shifting definition, but the best programs share many core elements. The masterminds of modern loyalty programs are constantly on the lookout for the next big thing. When convenience, price, and quality are not enough of a differentiator, what else can be? There are several significant shifts in the loyalty landscape happening right now that brands looking to evolve their loyalty programs should be on top of.


Firstly a shift in data types to zero-party data use only and an increase in respectfully and conscientiously gathering customer data; Secondly a shift from transactional only programs to those that encourage emotional connections as well. Consumers have, literally, a world of purchasing opportunity open to them and organisations cannot rely solely on transactions. Develop true affinity by looking at what your brand does best, what aligns with your brand values, to come up with creative ways to reward members beyond just dollars spent. A shift to new and multiple types of currencies. Lastly, a shift to doing something daring helps your program to stand out to the consumer, and connects with them in a way others can’t. 
CYDigital/marteq.io's insight:

Note the #1 driver: the collection of zero party data. Loyalty programs can act as the digital reward system to incent consumers to share their data with you.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Customer Engagement and Return on Loyalty - The Wise Marketer

Customer Engagement and Return on Loyalty - The Wise Marketer | The Marteq Alert | Scoop.it

What are the characteristics of an effective customer engagement-increasing initiative? They include:

  • Dialogue. Participation by all parties, emphasising flexibility, interactivity. The Domino’s ‘Pizza Turnaround’, an active listening and testing initiative to improve their product and experience used social & direct feedback channels. It helped take Domino’s stock price from $9 to $160 between 2009 and 2016.6
  • Facilitation, not instruction. Effective marketing programs avoid leading, and instead facilitate participation, involving consumers in creating and carrying out the initiative. Sephora’s Beauty Insider encourages customers to work with beauty advisers on their ‘look’.
  • Authenticity. The program must be genuine and not simply a ploy to sell products. Patagonia encourages direct customer to customer experience sharing, Decathlon offers a second-hand marketplace for customers to recycle products, at a real cost to their own sales.
  • Relevance. Information which is useful or pertinent to the decision-making process. Trip Advisor popularised the rating and comments of peer travellers, heightening the relevance of their service.

 

And look for individuals who have;

  • High interest in new experience-seeking.
  • Are looking for meaningfulness in an organization’s program(s).
  • Believe the program is psychologically safe, they will not be made to look foolish.
  • Are psychologically available to your program, have an interest in what you have to say.
CYDigital/marteq.io's insight:

So how do you find these individuals? By collecting data directly from them in exchange for a digital reward.

 

See how extended zero-party data is your greatest marketing resource...tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Gartner Reveals Two Actions Customer Service Leaders Must Prioritize To Increase Customer Loyalty And Mitigate Disloyalty - MarTech Series

Gartner Reveals Two Actions Customer Service Leaders Must Prioritize To Increase Customer Loyalty And Mitigate Disloyalty - MarTech Series | The Marteq Alert | Scoop.it
Customer service interactions are far more likely to lead to disloyalty than loyalty, according to Gartner. This means the battleground for customer loyalty must also include actively mitigating disloyalty. Gartner research shows customers who experience a low-effort service experience in resolving their issue are 61% more likely to stay with the company. On the other hand, a high-effort customer service experiences drops that probability to only 37%. “Most customers buy based on a product’s quality or value proposition, but they will leave or stop purchasing from a company because of service failures,” said Mr. Schott.

While low-effort resolution helps to ensure customers remain loyal, about 40% of customers will still leave a company even if they get that high-quality service experience. To avoid leaving that 40% on the table, customer service needs to focus on “value enhancement” – or impacting customers’ perceptions of the product or offering. Customer service organizations that focus on “value enhancement” can increase the probability a customer will stay with the company to 82%. Even more, “value enhancement” helps to increase the probability customers will deepen their wallet share to 85% and spread positive word of mouth to 97%.
CYDigital/marteq.io's insight:

Isn't value enhancement one of the basic tenets of marketing? How did we get to the point where this foundational item needs to be called out as an action item?

 

Join the marteq.io white list to receive pre-launch benefits: https://un.marteq.io/wl1/ #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Customer loyalty: The new generation | McKinsey

Customer loyalty: The new generation | McKinsey | The Marteq Alert | Scoop.it
Thomas O’Toole: Travel, retail, and financial services have been at the forefront of loyalty programs since their inception, but we now see them expanding into other categories, such as healthcare. Why is this happening, and what other categories do you see adopting loyalty programs?

Jess Huang: We’re hearing more and more healthcare clients asking us about loyalty, as well as insurance clients. Some B2B clients are asking about it, too, which is a little bit unusual, because there are fewer programs to point to. I think this goes back to the trend of increasing access to the consumer and consumerization. So now everyone is thinking, “I’m expected to take advantage of all of these consumer touchpoints that I can access, but how should I be doing it?”

The bar for the customer experience and how you develop a relationship with the consumer has been raised by digital and other trends. So companies in industries that traditionally didn’t build one-to-one relationships with the consumer now feel like they need to. Healthcare providers are thinking, “How do I actually continue to engage with my consumer in between visits and make sure that they come back to me?” That’s something they’re not used to wrestling with. It’s the same with B2B companies. There’s more consumerization in terms of access, so it’s no longer just about the salesperson’s relationship with the person on the other side. There’s a lot more access and more ways to get in touch with them. So I think loyalty naturally pops up as a topic they start thinking about.
CYDigital/marteq.io's insight:

An excellent post on today's loyalty requirements. 

 

Follow us on LinkedIn and qualify to use the Marteq platform at no charge! https://www.linkedin.com/company/marteq-io #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Making blockchain real for customer loyalty programs | Deloitte US

Making blockchain real for customer loyalty programs | Deloitte US | The Marteq Alert | Scoop.it
Loyal customers are one of the primary drivers of any for-profit business. By building loyalty rewards programs, companies aim to heighten the customer experience. In many cases, however, the opposite has occurred. The implementation of blockchain can drive the customer experience to the next level, and here’s how:

Reducing costs
Enabling a frictionless system
Making the process near real-time
Providing a secure environment
Creating unique business opportunities
CYDigital/marteq.io's insight:

It's a no brainer!

 

Learn why blockchain is the next step for MarTech and AdTech. Read the white paper: https://www.marteq.io/#7 #martech #marketing

No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

Building Customers Rewards Program With Blockchain - FinExtra

Now blockchain and mobile wallets are disrupting the way companies do rewards. Blockchain is cutting out 3rd parties and giving full control directly to businesses. Blockchain is a new technology that is creating decentralized and encrypted programs. It is much faster, much more secure, and transparent; everything that the current rewards system needs. Blockchain also has brought us smart contracts which, in simple form are encrypted digital contracts.

Why Blockchain is perfect for the rewards industry.

Secure. Blockchain is more secure than any previous technology. With the use of smart contracts and blockchain; customers data is protected like never before.
Fast. Blockchain, if implemented correctly cuts transaction times down to mere seconds, allowing for more accurate reward programs.
Efficient. Reward programs have billions of transactions and very large amounts of data that needs to be stored. Blockchain brings efficiency unlike anything we’ve seen before and this means huge cost savings.
CYDigital/marteq.io's insight:

It's an excellent use case, although we believe secondary to the huge advantages provided by blockchain in the realm of advertising. Learn why blockchain is the next step for MarTech and AdTech. Read the white paper: https://www.marteq.io/#7

No comment yet.