Once again, Amazon is blazing new trails in retailing, this time with their paid Prime Membership Loyalty Program. Amazon reports they now have stunning 100 million paying members for Amazon Prime. CEO Jeff Bezos said that last year, more members paid the membership fee to join Prime than any previous year. Remarkably, Amazon Prime members…
Did you know 70% of consumers say they are more likely to recommend a brand that has a good loyalty program? Or that 92% believe recommendations from friends or family over all other forms of advertising? Clearly, the state of customer loyalty programs is changing rapidly in 2018, and these programs have become an enormous…
MyLowe’s customer loyalty program members spend 35% more than non-members. In 2017 Lowe’s added more than 4.5 million new members to the platform. In the fourth quarter, Lowe’s reported a 28% increase in on-line sales growth. COO Richard Maltsbargar attributed this growth to an optimized mobile experience and better communications with online customers. Lowe’s still…
Target is introducing a new way to drive loyalty. The discount retailer will test a new rewards program, called “Target Red,” in the Dallas-Fort Worth, Texas area next month. The program offers a variety of perks, including 1% back on every purchase, and the ability to help direct Target’s community giving. In addition to the…
Providing a compelling value that keeps customers coming back time after time is the ultimate goal of all loyalty programs. Nearly 70% of customers say they are more likely to buy from a retailer with a loyalty rewards program, and 35% say they visit more frequently. Clearly, loyalty programs can help drive more repeat customer…
The most critical cornerstone to personalizing customer experiences is knowing your customer’s identity. It’s the foundation to creating a lifelong customer relationship. “Customer Identity Resolution” provides the answers and the pathway to greater customer loyalty and retention, according to a recent publication by the Chief Marketing Officers’ Club (CMO). Brands are rushing to implement the…
Encore Incentives’ Customer Loyalty Accelerator was one of the highlighted new product introductions at Kadima’s 2018 Innovation Fair, held January 30th at West World in Scottsdale Arizona. The Innovation Fair unites sponsors, corporations, strategic partners, investors economic development organizations and others from across the country. The goal of the fair is to launch alliances and…
Gone are the days when customers would flock to any mall with two department stores and a food court. That’s why retailers are focusing on creating brand loyalty and deeper customer relationships. But accomplishing that requires one critical component over all others – data. Knowing your customer is now the name of the game for…
Americans have 3.8 billion loyalty memberships (yes, “billion”). With that high degree of market saturation, customers have started asking, “Is it worth it to me to hand over my personal info to get what you are offering?” Increasingly, the answer is “No.” The biggest reason customers ditch loyalty programs is that it takes too long…
Personalization is becoming increasingly important to consumers, and as a result, they are expecting far more from retailers’ loyalty programs. So it’s no surprise that personalization has become one of the hottest emerging trends in marketing today. According to Virtual Incentives, 56% of consumers said receiving a unique, personalized incentive would improve consideration of a…
Bad data is a waste of money. “When you do not validate customer information, you lose the opportunity to build a relationship past the first customer engagement,” says Edward Hunter, lead data engineer at Clutch. “But, I’m constantly amazed at the number of companies that do not validate customer information.” To gain better information from…
