Loyalty schemes have come under scrutiny as brands look to get the most value out of their programmes. Both Tesco and Nectar have slashed the value of theirs while Waitrose has derided the traditional points-based system.
As brands continually look to differentiate from competitors, those that incentivise customers with rewards outside of their core product offering could do better to build loyalty in the long-term.
Growth is high on the agenda for all forward-thinking businesses but so too is offering a personalised service.
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here
In the latest episode of Marketing Week’s podcast series, Patagonia marketing director for Europe, Alex Weller, discusses how businesses can live up to their purpose and what a Joe Biden administration means for the global climate crisis.
In a recessionary environment where budgets are under pressure, market research needs to “loosen up”, show how it fuels creativity and adopt the language of the C-suite, or risk being devalued by business.
Search data reveals a lot about what consumers want and can inform on how to position a brand for growth and even what words will work best in a campaign.