Consumers belong to eight loyalty programs on average, yet just 26% of marketers prioritize customer data collection from this engagement channel. The result? Missed opportunities for marketers to deepen their understanding about who their customers are, what motivates them, and how they currently interact with their products and services.
Marketers can help their firms better understand the customer by transforming these loyalty programs to focus on customer data collection. The result will be a true value exchange that informs the total customer relationship.
A food manufacturing brand that used insights to help customers discover a new instant coffee brand earned 50,000 customer sales after a direct mail piece was sent to loyalty card members – 60% of which were from new-to-the-brand customers, some of whom had previously purchased a competitor’s product.
To learn more about this research, visit the Customer Insights blog.