Our Chief Strategy Officer, Dave Andreadakis, chatted with CNBC’s Marketing, Media, Money about success factors in loyalty programs across multiple generations.
He states that the primary role of a loyalty program is to keep customers coming back and to give them a reason to select you over another brand. No matter the age or generation of your customer it should be about the value proposition, the trust in your brand and how easy and uncomplicated it is to use your program.
Andreadakis continues on to say that it’s important for a brand to tailor its loyalty strategies across generations and evoke emotional loyalty through status, habit and reciprocity. This is where brands will find a true lasting relationship with their customers, versus solely focusing on the transaction and behavioral loyalty.
Dave’s most important advice: talk to your customers and see what they have to say about your brand. Adjust your personalization efforts and you’re likely to see an increase in response.
To see this full interview and to hear how loyalty can be engendered across generations, check out: https://www.cnbc.com/video/2018/09/27/what-makes-loyalty-programs-work-for-all-ages-status-habit-and-reciprocity-is-the-key.html