No Comment - Says U.S. Embassy of reported cancellation of several...

House passes Act to establish Technical College in Nimba

Firestone commences 2014 free rubber stumps distribution

Health Ministry on fire

In Montserrado Senatorial Race: Why Ellen will support UP’s nominee and not her son? ...

Customer loyalty means more in era of social media

The newly evolved consumer is relating differently to loyalty programmes.  A few brains in our think office have been thinking about how technology is increasingly shaping the face of consumer loyalty programmes. People are increasingly looking to brands to help them get more out of their resources, especially those that are scarce and therefore most highly prized.

By zeroing in on these areas (and by understanding that different individuals suffer from different types and degrees of scarcity), there is a significant opportunity for brands to make their loyalty programmes more relevantly empowering. This does not mean that everything will change.

For many people, money is obviously a scarce resource (particularly at the moment). It follows that schemes must continue to reward spend  not least because purchase is, if not proof of loyalty, at least a prerequisite for it. Aimia has written interestingly about how 2.0 loyalty programmes could be linked to purchase in new ways. They call it “stealing Amazon's thunder”.

Their core thesis is that in an increasingly transparent world, you need to move towards offering customers the most competitive price possible  particularly if that customer is measurably and profitably loyal. In other words, you may need to sacrifice margin on today's sale in order to secure and maximise future revenues. So far, so obvious.

The smart bit is their recommendation that retailers make dynamic price matching an exclusive benefit for shoppers who sign up to a loyalty scheme. As they say: “Holding customers' hands while they find a lower price online may seem counterintuitive  until you remember that every action conducted via your app results in proprietary data that is owned by you rather than Amazon".

IGD also brings some useful insight to bear on this. Their research indicates that the current levels of promotional intensity can lead to shopper confusion; 44 per cent of us say we find it difficult to identify best value within a store.

Putting these two together, the implication is that pricing itself is likely to be a key lever within 2.0 loyalty schemes; with profitably loyal customers being rewarded with both greater transparency and lower prices. As an indication of things to come. It seems inevitable that we'll see many more brands seeking to extract maximum value from the 'magic moments of engagement' they create by transitioning the audience to a second, generally mobile medium.

Those individuals who make the journey, and especially those who go on to share their experience of the journey, can expect rewards in the shape of exclusive content or unlockables or flash prizes.

This is the sort of amplification model Adam Stewart, marketing director of Play. com, is thinking of when he says: “As soon as you can get customers engaging within the social space, the viral element means the reach extends. And that's where the power comes from in terms of loyalty”.

As it becomes increasingly critical for brands to develop a single view of the customer, Data will become an even more valuable prize than it is today. Download the whole of this white paper on www.spongegroup.com

Also on Heritage

Ellen vexed over blocking of  waterway
MONROVIA - In the wake of the erosion which has affected the rear fence of the John F. Kennedy Medical Center, President Ellen Johnson-Sirleaf has instructed the Ministry of Public Works to lead a team charged with the responsibility to clear all man-made structures obstructing the drainages and flo
Doe Community residents alarm deplorable road condition but...
MONROVIA - Residents of the Samuel Kanyan  Doe Community have again, alarmed over the continual deplorable road condition  in the area.
Death Trap: How LEC is endangering citizens' lives
MONROVIA - Residents of Monrovia and its environs have expressed concern over open hole left by the Liberia Electricity Corporation holes in the city and its environs without any safety measure for citizens, most of whom commute the city streets on a daily basis in a bid to get livelihood.
Finance, Planning finally become one
MONROVIA - The merger of the Ministries of Finance (MoF) and Planning and Economic Affair (MPEA) has finally being formalized.
Cellcom sends 10 winners to World Cup in Brazil
MONROVIA - Ten lucky winners of Cellcom's trip to Brazil on Friday, June 20, 2014 received tickets and vouchers for their trip to experience the World Cup live in Brazil.   
NOVAFONE surprises subscribers
MONROVIA - Several subscribers of NOVAFONE GSM walked away with several fantastic give away and prizes from NOVAFONE over the weekend during an unexpected raffle draw that was held at the premises of the GSM Company in Congo Town.
Lower House concurs with Senate to amend Penal Law
MONROVIA - The House of Representatives has concurred with the Liberian Senate to amend the Penal Law of Liberia Chapter 14 under the Title “Offenses Involving Danger to the Person”

Editorial

Our message to the would be candidates & voters From our vantage point, we want to cautiously urge all the would be candidates i... More detail
The attack against ArcelorMittal unacceptable! We join our many fellow Liberians in categorically condemning the recent violenc... More detail