By Akbar Jaffer, VP of Marketing & Products, Social Annex
In an age of thin retail profit margins, building customer loyalty is a key competitive differentiator.
Over the past few years retailers and manufacturers of consumer goods have started paying much closer attention to the customer experience. Yet, ironically, one of the key components to creating a positive customer experience, loyalty programs, is still subpar for many companies. In fact, studies conducted by RSR Research revealed that:
- Many retailers treat their loyalty programs as a “pay for customer data” relationship, yet few feel that they are making effective use of the data they collect.
- Many retailers leverage trigger-based offers in their digital channels, but few can enable the same degree of personalization in stores.
- There is very little coordination of customer interactions across available marketing channels.
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