Data-driven Loyalty
18th August 2022
Written by Tom Peace
Loyalty programs are not only good for business, but they are also a great way to collect customer data. The key is how you use that data to benefit the customer, not just your bottom line.
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More and more consumers are openly sharing their data in return for a truly personalised experience. A recent study showed that "90% of customers are willing to share data with businesses if it results in a better shopping experience for them.โ
Businesses should use data obtained from loyalty programs to inform;
๐ Personalised offers
๐ Relevant rewards and discounts
๐ Customer journey
๐ Personalised experience
๐ Content recommendations
๐ Future business strategy and decision making
๐ Customer segmentation based on behavioural data
๐ Customised marketing communications
With customer expectations shifting, it's likely that data-driven loyalty will soon shift from a nice-to-have to a must-have.
Always remember, only collect the information that your business needs!
