How loyalty management partners can bring strategy, technology, and service capabilities to the table
LONDON, UNITED KINGDOM, November 24, 2023 /EINPresswire.com/ — In an article published on Business Reporter, Simon Jeffs, Principal Marketing Strategist at Marigold, talks about how loyalty management partners can help brands build customer-centric loyalty programmes led by emotional engagement and channel agnostic execution – and thereby combat customers’ points fatigue. As the notion of loyalty is transforming, loyalty management needs to become even more strategic. Today, loyalty must be factored into the customer journey from acquisition to retention to growth, while findings on the efficiency of loyalty programmes have shown a direct tie back to lifetime value, as well as revenue and profitability KPIs.
The days of only considering traditional points-based loyalty programmes are over. Customers today see themselves as co-creators of the loyalty agenda and require a stronger value proposition, where financial transactions aren’t prerequisites of earning a reward. Moreover, they also welcome charity and ESG-linked loyalty rewards and deeper personalisation in exchange for their data. In order to meet these needs, companies often need to amend their in-house capabilities with loyalty management partners who can provide support with technology and the collection and analysis of customer data. What they should keep in mind is that the more diverse a business’s loyalty programme is, the more simplified, connected and consolidated the back-end execution should be.
Marigold’s A buyer’s guide to enterprise loyalty management created in association with Let’s Talk Loyalty offers guidance on how a business can find its ideal loyalty partner, while Marigold’s report on emotional loyalty explains the techniques of increasing a customer’s lifetime value.
To learn more about the three pillars of loyalty management, read the article.
About Business Reporter
Business Reporter is an award-winning company producing supplements published in The Guardian and City AM, as well as content published on Business Reporter online hubs on Bloomberg.com, Independent.com, Business Insider Germany and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.
Marigold is a global pioneer in relationship marketing providing tailored, industry-specific martech solutions to over 40,000 businesses around the world. Its Relationship Marketing solutions – Marigold Engage, Marigold Loyalty, Marigold Grow, and Marigold LiveContent – are designed to help clients acquire new customers through multiple channels, grow their existing customers with offers curated just for them, and turn them into loyal advocates.
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The post Business Reporter: Keeping up with the changing notion of loyalty first appeared on Beauty Ring Magazine.