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Customer Loyalty: Big Data. Big Transformation.

February 23, 2014

Welcome to the age of big data – Losing a customer is just a click away. One bad experience can reach to a million prospects/customers. Product features and price are no longer a differentiation. Markets are continuously evolving and customers getting powerful than ever before. Challenges. Challenges. Challenges. But is it what its all about?

Or, is it about a golden opportunity that’s waiting to be cashed at every customer interaction, throughout the lifecycle!

Knowing how to effectively nurture those “right” relationships has become more complicated than ever before. So, if we take a look back for a minute, what exactly did 2013 teach us about loyalty? A quick look:

Addressing customers’ needs must be the #1 priority. Every customer wants a brand that cares for him/her instead of only bragging about itself. Customers want a seamless brand experience.

Create a better customer experience. Customers love discounts but, that’s not the only factor – if it were true everyone would have only focused on slashing prices. Overall customer experience is the key!

Keep an eye on competitors but, focus on value. Do not create campaigns and loyalty programs only to trash the competitors. Create them so that customers get benefited!

Its a constantly changing world. Never rely on everything that worked well yesterday to work wonders even tomorrow.

That’s about 2013, but what’s the horizon for the year ahead? Here are few:

Leveraging data-driven marketing to create personalized offers. Use data to inform your decisions. Engage your customers with meaningful offers based on what they’re telling you they want.

Loyalty as a journey, not just a program. Think beyond the card. Think outside-in, understand what your customers will love and deliver.

Moving beyond discounts. Deliver value, delight and personal touch. That’s much more weighted than mere discounts.

Exceptional customer service. Data-driven marketing will help you earn the loyalty of your customers. But, build trust and keep having that personal touch & care forever.

For marketers every day must be February 14th. Its time to romance with your customers – each day of 2014 and beyond. They are constantly giving you the data, its your time to convert that into intelligence and engage with them to create better value and drive business objectives.

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