Loyalty marketing's newest challenges: Trends that boost, drag on loyalty programs

Today, successful loyalty strategies must assume a more comprehensive role in the overall marketing plan - one that seeks to identify and leverage the current relationships between a company and its customers, then extend that equity to achieve a competitive advantage based upon that relationship. A...

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Bibliographic Details
Published in:Marketing News 2002-10, Vol.36 (21), p.16
Main Author: LaPointe, Patrick
Format: Article
Language:English
Subjects:
Brand differentiation
Competition
Competitive advantage
Currency
Customer relationship management
Customers
Frequent flier programs
Guidelines
Loyalty programs
Marketing
Strategic planning
Trends
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Summary:Today, successful loyalty strategies must assume a more comprehensive role in the overall marketing plan - one that seeks to identify and leverage the current relationships between a company and its customers, then extend that equity to achieve a competitive advantage based upon that relationship. Along the way, practitioners of this new model likely will encounter some or all of the following trends: 1. Volume, clutter and noise are accelerating. 2. Effective loyalty marketing merges the best of online and offline realms. 3. Loyalty and CRM are cousins, not strangers. 4. Loyalty programs are becoming wider in scope. 5. Coalitions are on the rise. Marketers need to be able to cover a tremendous amount of strategic landscape without losing sight of the simple correlates of success, which include: 1. Build off the brand, not in place of it. 2. Blend recognition with reward. 3. Communicate often and with relevant offers.
ISSN:0025-3790