Premium loyalty program provider Clarus Commerce has acquired PrizeLogic to add rebate and promotion engine and rich first-party customer data as third-party tracking cookies are on the way out and Apple’s new iOS operating system severely limits marketers’ access to user activities. Terms were not disclosed.
Consumers today are channel agnostic, demanding a baseline digital experience that will achieve their desired outcomes. Meeting their expectations is no longer sufficient; exceeding them is what wins their loyalty in the post-pandemic era, and drive success this holiday season and beyond, brands must prepare now.
For those brands fortunate enough to gain new customers during the pandemic, the big challenge is how to keep them. Brands may think new customers will stick around, but leaving is easy for consumers. If you fail to deliver, including on new promises made during the pandemic, somebody else will be waiting to meet those expectations.
Instead of examining their funnel from a sales or marketing-focused perspective, marketing and sales need to work together to examine how both of their activities contribute to conversions. This perspective, called full funnel optimization, is essential to maximizing your business’s revenue.
How can beauty retailers capitalize on the upswing in loyalty trends, and ensure customers who have adopted ecommerce for the long haul stay loyal? There are a number of personalization best practices to leverage, starting with the first visit, leading to the second purchase, then forging and strengthening a 1:1 loyal relationship.
A study last fall by Omnicom showed a drop of those professing to be brand loyal, from 65% in March to 49% in November, with the pandemic, social issues and product pricing and availability as driving factors. Allan Levy, CEO of Alchemy Worx, joins our MCM CommerceChat podcast to talk about guarding against loyalty erosion in 2021.
From chic fashion and perfumes to jewelry and fine art, product knockoffs are nothing new. Nor is trying to find and stop them—or at least minimize the impact on the original brand. However, the recent fascination with “dupe culture,” especially on social media, now poses an even greater risk to brands. Here’s how to protect yourself.
Twenty first century loyalty – the degree to which a brand meets customer expectations for their Ideal in a product category – is a KPI that changes before the brand’s economic structure begins to improve or decline. It’s an early warning signal that your brand may be in trouble. And J. Crew’s recent Chapter 11 filing is a prime example.
Consumer loyalty is up for grabs in 2020, according to a Criteo study, with 73% of shoppers open to taking a chance on brands they haven’t tried but have heard positive things about. The study quantified the evolution of consumers into detectives who compare products, rely on reviews and increasingly shop across channels.
In the world of branding, a secret handshake represents any form of ritual, from your personal Starbucks order to the DoubleTree Hotel cookie. They’ve been a deeply rooted element of human behavior and emotional loyalty for a very long time, and can increase your perceived value and create a deeper emotional connection to your brand.