When we talk about loyalty programs for end The power of data customers, it is very important to have information about them. When launching a program of this nature, we must have a relevant acquisition force – whether through a form on the corporate website, telephone sales contact through a contact center, a dedicated action at the point of sale , etc. – or a standardized and consolidated customer database prior to launch.
Customer acquisition is perhaps the most important part of building a b to c database customer loyalty program. Customer acquisition must comply with current data protection regulations and rules, which will be easy if we have specific software or technological development for this type of program, such as Galanta’s own LMS — Loyalty Management System .
Once we have identified our clients and program participants, we need to know more about them in order to know how to incentivize them and how to adapt the program to their needs. This information will be provided by the development of the loyalty actions themselves, which will provide highly relevant caring for the image in corporate material business intelligence: sales, average ticket by type of user or by point of sale, redemption percentages for discounts, prizes and promotions, and much more. Taking advantage of this data will undoubtedly be a differentiating element and will provide enormous advantages when making business decisions.
Brands are failing to leverage their customer data
According to the 1st Study of Relational Marketing in Spain , prepared by Mediapost in collaboration with the Marketing Association of Spain and which updates the data presented by the annual impacts of the Galanta Loyalty Monitor Study, only 1 in 3 brands contacts the consumer after he or she has participated in a promotion and provided his or her contact information.
Although the study does not delve into the reasons why brands behave this way, it is reasonable to think that they are fully evangelized on the importance of capturing user data and the relevance of data in customer loyalty, but subsequently . One of the keys to relational marketing is precisely customer loyalty, which would be the most relevant measure when it comes to building sustainable and long-lasting relationships between the brand and customers.
They lack the time or resources to put it to use
By not taking advantage of contact data, brands are losing a sales potential that is very difficult to quantify but undoubtedly very high. If we take into account that acquiring a new customer is between 5 and up to 8 times more expensive than retaining an existing one, it is easy to understand that brands are losing income by not taking advantage of data to relate to their customers.
The study also shows us how the absolute loyalty rate to a brand by usa b2b list Spanish consumers is alarmingly low . Only 5.9% of those surveyed claim to be loyal to a single brand, no matter what happens. The figure collected two years ago by the latest Galanta Loyalty Monitor was 12%. In other words, we can interpret that we are becoming less and less loyal, and this is not going to change if brands do not start working to build relationships with their customers in the medium and long term.