Trends and fads are common in the quickly-evolving local marketing industry, but it appears that loyalty programs are here to stay. So what’s the secret to keeping customers loyal in 2017? To find out, we went directly to the experts and asked what trends they’re seeing within the local merchant community.
New loyalty entrants are looking to make life simpler for the thrifty with suites of services that stretch from the marketer all the way to a consumer’s wallet. And some of those, like Klosebuy, are focusing local — targeting the SMB by giving them the power over loyalty programs once reserved for the big guys.
To dig into what consumers expect in the loyalty programs they use most frequency today, we checked in with executives at a few of the most well-known loyalty platforms. Here’s what they said consumers are looking for in loyalty programs right now.
“You don’t want to spend money to collect data if it doesn’t change your revenue, and you want your revenue to deliver value,” says Thanx CEO Zach Goldstein. “A negative ROI on your marketing would say, ‘I should stop doing that,’ and a positive ROI should say, ‘I should do more of that.'”
“The premise of our business is that in the past you walk into your local business and everybody knows who you are. It is a very familial relational space,” Ho said. “Our goal is to help these business owners treat every single [customer] as a unique individual. Not long from now it’s either going to be like Minority Report or like Cheers. We want it to be like Cheers.”…
FiveStars co-founder and CEO Victor Ho, who will be a speaker at Street Fight Summit West next week, caught up with us recently to talk about the efficiency of retention marketing, the shift from daily deals to digital loyalty programs, and what analyzing the trove of SMB consumer data can potentially yield.
The company’s CEO says that he considers beacons “an additional channel of communication so that businesses can identify when customers are inside a store and target them with special offers,” but he doesn’t see location-based tech and loyalty programs going hand-in-hand.
Hyperlocal vendors are increasingly marketing their high-tech loyalty programs at small and mid-size businesses, with easier ways for business owners to deliver loyalty rewards based on data captured through the point-of-sale. Here are seven ways merchants can use purchasing behaviors to offer more relevant rewards.
Random rewards and eco-friendly initiatives are among the suggestions experts in local marketing offer SMBs who are looking to foster customer loyalty and bridge the gap between the virtual and the actual.
When consumers commit to joining a gym and paying a fixed rate each month, they’re indirectly confirming their loyalty to the business. But after years of working with clients at Gold’s Gym of Jersey City, sales manager Mauricio Calmet noticed that a secondary loyalty market exists, one that’s rarely tapped by businesses once they’ve signed customers up for yearlong contracts or memberships.