Customer loyalty programs: investments

And now we come to the explanation of why investments in customer loyalty systems should still be increased if we already invest so much money ...
We find these reasons in the graphic below where these reasons are summarized ...

And now we come to the explanation of why investments in customer loyalty systems should still be increased if we already invest so much money ...

We find these reasons in the graphic below where these reasons are summarized ...

In particular, in the answers to the questions that were asked to the operators interviewed, we placed them in order from 1st to 6th place, based on the number of those who considered the content of each answer more important.

Let's discuss them together ...

According to 42% of the operators interviewed, joining loyalty programs leads to a growth in sales.

In second place the answer given by the 36% of the interviewees who claims to have to increase the efforts and investments to implement the systems from a technological point of view while for the 35% of the interviewees, in 3rd place on the scale of values, when important performances are recorded it becomes a priority to increase investments in this sense.

4th place, that is, the 34% of operators states that being a leader is also demonstrated by being among the main players in loyalty investments while in 5th place we find those who claim (the 33%) that with the increase of competitors it becomes necessary to increase investments in loyalty programs and finally in 6th place, for the 30% of the interviewees, it is considered absolutely necessary to provide greater value to those registered in loyalty programs.

Let's start by stating that, in our opinion, the result which is in 6th place out of 6 questions, should instead be the absolute priority and should be in 1st place in the heads of operators because, only providing greater value to its customers faithful, you can actually build something over time.

It is clearly obvious that we affirm this because the loyalty program was born with this goal, that is to give greater value not only to those who are simply registered but who actually, in addition to being registered in the loyalty program, really brings greater value to the company. and which then triggers all those actions, some of which have been read as answers to the questions posed and also highlighted in the graphics ...

That adherence to loyalty programs leads to a growth in sales is an absolutely natural thing if the loyalty program represents a true continuous interaction with your customer ... that with the increase of competitors they have to increase investments in this sense, is absolutely normal but, the first goal must be precisely to provide greater value to those who register for your loyalty card and who then really want to follow you.

Of course, considering that the companies interviewed are among the largest in the world, on the one hand it must be considered that, being global giants, they develop dizzying turnovers and therefore within them they should have the skills suitable to touch on such important topics.

In fact, what yesterday was called marketing director or marketing director in English, today is supplanted by the CGO or the Chief Growth Officier, in other words, the one who heads the division that deals with the whole world that revolves around the growth of sales and the growth of the company, which obviously passes through marketing.

Marketing in the strict sense is outdated as a way of understanding growth models that are more focused on products or advertising, today we are talking about real offices that deal with business growth where the old model is always there, but it represents only one part.

However, it is clear that if 3 out of 10, because in 6th place we saw the 30% of the interviewees, put the need to provide greater value to their truly loyal customers through loyalty programs first, the way is still implicitly clear. to do in this sense and, if a company does not make this consideration one of the "must" of the company, either luckily it is able to grow out of inertia, or there is the risk of not growing at all.

Then there are those who escape these rules because they are market leaders, because they occupy particular market niches with high barriers to entry but, in most cases, what we have said so far is valid while, even if you are the first, you are not maintains the mentality of the seconds with that unstoppable desire to climb mountains, lulling oneself on one's skill ... you risk making big slips backwards and history teaches us how this is unfortunately true with companies that are leaders (Nokia, BlackBerry, Ericsson ... just to name a few), have been downsized considerably.

All chapters of: Loyalty 2.0

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