What is the future of Loyalty from your point of view?
You can come at the question in two ways. We often talk about ‘Big L’ Loyalty and ‘small l’ loyalty. ‘Small l’ loyalty is about the things you do within loyalty programmes to build richer relationships with your customers. ‘Big L’ Loyalty is really about consumer loyalty in itself. Will consumers become more disloyal? Or is loyalty a human condition that is so ingrained in who we are as people that it’s the greatest resource you could tap into from a business standpoint? I strongly believe that there is nothing more powerful or strong than loyalty. It creates incredible elasticity in your ability to have a mutually beneficial relationship with your customer. As long as you respect it and know how to use it properly, effective ‘small l’ loyalty will be the natural result. Although the marketing ecosystem has transformed dramatically in the last 10 years, we still find that well-constructed loyalty programmes create positive relationships and behavioural change. The target consumer still experiences a high degree of relevance from these programmes.
The challenge for programmatic loyalty in today’s and tomorrow’s disruprive environments is to build on this relevance by taking advantage of the tools and techniques that are out there. So I do see a significant influence in how we connect to customers, and in how we leverage technology, to enable the growth of those relationships and the relevance of our communications.
I also see significant opportunities in using artificial intelligence, machine learning and all the analytic frameworks to deepen the understanding we have of consumers so we can execute and deliver these benefits.
And how does BrandLoyalty fit into this?
BrandLoyalty is perfectly positioned. We are already a long way down the road of using digital technologies and consumercentric strategies to fully enhance the results of our programmes.
From a data and analytical standpoint, there is no such thing as artificial intelligence! We are also keenly focused on insights and data that enable us to gain a deeper understanding of who the consumer is and what their hopes and desires will be. Our programmes can therefore be tailored to address performance strategies and concerns that retailers have specifically about their own business.