The Loyalty Minute

Welcome loyal listeners to another episode of The Loyalty Minute, I’m your host Rob Gallo and today I am eager to chat with our special guest Sean Donnelly,  Sean is a full time loyalty consultant who brought his New Jersey attitude down south to South Florida to consult for the Local Loyalty platform Fivestars.

Welcome to the show Sean, thanks for joining me...

Welcome loyal listeners to another episode of The Loyalty Minute, I’m your host Rob Gallo and today I am eager to chat with our special guest Trevor Hadick. Trevor is a data driven marketer who currently manages Spirit Airline's loyalty program. Currently he utilized transaction level data to perform segmentation and targeted marketing campaigns as well as surface insights to innovate both the subscription and traditional loyalty program.

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about Quality vs. Price in retaining loyal customers.

Quality is becoming more important than price to most consumers, as 53 percent rate quality as the most important factor when making purchases compared to price (38 percent) according to a new report by First Insight, a technology company transforming how leading retailers make product investment and pricing decisions. The report also notes that consumer expectations for discounts are falling as an increasing proportion of consumers surveyed said department store discounts had no influence on expectations for discounts across other categories including vehicles, smartphones, furniture, home appliances and home electronics.

The survey queried 1000 participants in the U.S. on their shopping habits, purchase behavior and influences driving decisions, and tracked changes in consumer sentiment on the impact of widespread discounting by department stores and mass merchants...

The results of this study indicate that we may be reaching a tipping point, as retailers who have been focused on providing consumers with the quality, differentiated products they want and the price they expect are gaining greater traction and changing the consumer mindset.

https://www.firstinsight.com/press-releases/quality-more-important-than-price-study

To learn more about this survey and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about how to beat 50% of your competitors in the customer loyalty arena

We now have enormous access to customer data at our fingertips – yet 80% of data is “dark and untouched,” and is never actually used to make improvements to CX and earn loyalty.

“If a company can’t access their own customer data, record behavior, analyze purchase history and access all information in a single repository, then we (airlines) can’t even get close to attaining customer-centricity,” asserts Christina Heggie , Investment Principal at JetBlue Technology Ventures, on the loyalty challenge.

Studies suggest that 91% of brands agree that personal data is critical to the customer journey – yet only 51% are confident in their ability to serve a data-driven customer experience. Indeed, 50% of organizations admit that their back office is siloed and unable to support a seamless digital flow. That’s half of your competitors.

To learn more about this topic and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about how to create a customer loyalty program for your business...

It’s one of the most cited statistics in the business playbook: 80% of your venture’s profit will come from 20% of your existing customers.

Loyal customers are your most valuable customers, which is why many small business owners go above and beyond to incentivize their customers to return time after time.

A loyalty program can improve customer retention, bring in more positive customer reviews and build the kind of brand loyalty that can help you sustain the business through a recession. Here’s how to set up and run an effective customer loyalty program.

Design your program around a goal

What’s the customer behavior you wish to incentivize? Design your loyalty program to reward your customers for taking a specific action. For instance, if they visit your cafe for a coffee four times in a month, the fifth coffee is free. This encourages more frequent visits, bringing in foot traffic and increasing sales.

Here are the main goals your loyalty program might help you accomplish:

Increased spend: make each transaction more profitable.

Frequent visits: encourage customers to make a purchase more often.

Market research: use your loyalty program to learn purchasing habits, solicit feedback and test new products.

To learn more about creating a loyalty program for your business and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about What Gen Z shoppers really want.

In a global study co-sponsored by the IBM Institute of Business Value and the National Retail Federation, they examined what this youngest generation considers to be “retail essentials” as well as what delights and engages them. The study, based on a global survey of 15,600 Gen Zers between the ages of 13 and 21, explores Gen Z’s expectations for the retail environment, their usage and attitudes toward technology and what customization means for them.  One finding in particular was rather interesting, Three times as many Gen Zers shop in a store most of the time compared to online.  I would say it’s mainly because these don’t have the means to buy online.

The report is chock full of great infographics that are worth a look…  I know that does not help much when you’re listening to a podcast, but I will put a link to the study and the infographics in the show notes.

https://nrf.com/research/what-do-gen-z-shoppers-really-want

To learn more about this study and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about the top three mistakes companies make with their rewards program.

First off, there is a difference between a repeat customer and a loyal customer. Some companies don’t know the difference. Just because a customer comes back, even repeatedly, doesn’t mean the customer is loyal – at least not to the company. So what are the three biggest mistakes companies make with their rewards program?

Number 1 is lack of rewards: If you’re not offering rewards beyond your own products and services, you’re missing out by pigeon holing your customers.

Number 2 is over-discounting: It is NOT a unique business practice, and once you do it, the competitor down the street is going to compete with a price that’s just a little lower?

Number 3 is lack of convenience: This may be the most important mistake to avoid. If you want your loyalty program to stand out, make it easy. To break through the noise, brands must make their loyalty programs as seamless to navigate as possible.

To learn more about how to avoid these common mistakes, and discover other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about in interesting article by Courtney Jespersen of NerdWallet called Millennial Money: Make Your Brand Loyalty Pay Off

Blogger Dani Austin of Dallas, Texas, logged into her Southwest Airlines account a few days before the end of 2019. Shortly after, she and her husband, Jordan Joseph Ramirez, flew to Las Vegas (and back home) in less than 72 hours.

The spontaneous trip was part of a last-ditch attempt to try to earn the Southwest Companion Pass, a benefit of the Southwest Rapid Rewards program that allows pass holders to bring one companion on flights for at least a full calendar year free of airline charges (not including taxes and fees).

But consumers jump through hoops for more than airline rewards.

She goes on to say that brother-in-law is a die-hard shopper at American Eagle Outfitters. He recently purchased a jacket and jeans from the clothing store for just $2.69.

He’s no extreme couponer, but he leveraged his loyalty arsenal: his store credit card, AEO Connected Rewards account and a coupon.

So what’s the secret? When consumers are devoted to a particular brand, they can cash in.

To learn more about this and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about mining your customer data to improve loyalty.

Equipped with loyalty programs, convenience stores and other retailers are collecting more data on their customers than ever before and the reasoning behind it is clear to data experts.

It's imperative to use loyalty data to retain customers since it’s seven times more expensive to acquire a new customer than it is to encourage a visit from an existing customer.

Collecting data, though, is just the first step. The real results come when retailers dig deep into their loyalty program data and uncover insights to drive more traffic and sales.

Loyalty data such as date of purchase, items purchased, location of purchase and customer loyalty ID should be enriched with demographic and psychographic data on the individual customer.  You can even take weather into account when you look at retail data...  There is really no detail too small.

That said, it takes a keen eye to know what to look for and how to properly parse it when mining data...  But finally and most importantly, you need to leverage the data to create predictive models.  Remember, the data you are looking at is history.  Even if it is recent history like yesterday, so the key is to let it help you paint an accurate picture of the future.

To learn more about this and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!

Welcome loyal listeners and today's episode and I started to think what does it really seem like to be superstitious am I superstitious then I thought what is really superstition mean in an essence it's kind of habit that you believe if you continue to do something something else will happen right so it's usually stereotype that gamblers are superstitious they will do specific things that will lead them to win while we know this might not be true it does sort of if you do the same routine over and over again and you get rewarded for it you might think well that's definitely working for me so there is a correlation between Superstition and a pavlovian type of response then Facebook LinkedIn Instagram all these posting type of social format will you keep scrolling scrolling scrolling you're just looking for that next thing and that's what keeps you loyal to that brand in the sense that are you really captured in that whole pavlovian thing of looking for a reward anyway I just thought it was interesting and I wanted to share to learn more about this and other great Customer Loyalty insights please visit TheLoyaltyMinute.com enjoy