Increasingly consumers want a quick and seamless payment experience, which is exactly what digital wallets provide. This is why experts predict digital wallets will overtake plastic cards by 2030. Customers are sick of toting plastic, but they’ll never tire of unlocking great deals and personalized offers. Here are three ways that brands can use them to unlock the key to modern loyalty marketing.
Generative AI (GenAI) has dramatically changed digital marketing, especially in relation to ad targeting, lead gen and SEO. As effective, personalized customer engagement is crucial to thriving in this new retail landscape, retailers must evolve their approach. They must also find new ways to interact with customers and better methods to measure the impact of those efforts in terms of hard ROI.
The high cost of a bad loyalty program is showing up on bottom lines, demonstrating a direct connection between retention and profitability that leaders can’t ignore. Consumers demand a deeper experience to earn their loyalty, going beyond transactional value. They want to engage in a close, personal way with brands they love, building relationships that evolve with their needs.
Grocers are increasingly concerned with the impact of the digital age on customer loyalty, as options have proliferated and made it easier for shoppers to cross over to competitors, according to a new report from Incisiv, The Food Industry Association (FMI) and Loyal Guru. About 75% of grocers said e-grocery has made shoppers less loyal, while 71% report that improving loyalty is a C-level issue.
How can you ensure your holiday campaigns don’t just churn out one-time conversions but create loyal customers? By designing a high-quality purchase experience that make shopping easy, rewarding and enjoyable; crafting engaging content; and cultivating an identity-driven connection with gate loyalty offers.
As prices continue to rise, more consumers are looking for the value vs. sticking with a particular brand. Clearly, many brands are facing a difficult environment. But there are still solid opportunities to be creative and maximize marketing budgets, despite demanding conditions, that will encourage and keep consumers loyal to your brand.
Marketers who make sure their team – in fact, their entire organization – has easy access to critical first- and third-party data can achieve total information awareness nirvana. They can use data-driven insights to personalize their marketing strategies, acquire new customers, reduce churn, launch new products and mitigate risk.
Loyalty programs are essential to the overall brand experience. A transactional “do/get” value exchange establishes functional bonds, but this tactic alone is not enough to build deeper emotional connections and weather future storms. Emotional loyalty strategies will be among the most successful in a post-pandemic world.
Opting for full third-party delivery for grocers came with many short-term advantages, allowing them to offer e-grocery solutions overnight. But this lucrative solution may not be sustainable for grocers who intend to make online an important part of their business. Owning the full omnichannel experience pays long-term dividends.
Whether a consumer goes from product awareness to shopping cart in 10 minutes or 10 months, the psychological journey is the same. Once brands and retailers take the time to understand buying intent at each stage of the customer journey, they can structure better strategies for product and business.