The Loyalty Minute

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about Experiential Marketing and what it means to your brand.

If you’ve been watching the marketing industry trends over the past few years, you will have noticed a shift away from traditional advertising toward what some believe to be a "new" sector of marketing called experiential.

It’s a widely mentioned buzzword, "experiential marketing" is now recognized as the powerful tool it actually is.  So what is Experiential Marketing?  In a nutshell, it is the reward of experiences to your customers or even employees as opposed to a physical gift of points or something tangible.

Experiential marketing has been around for more than a century; but, in recent years, because of various business and societal shifts, its share of global brand marketing budgets has grown significantly.

Experiential takes many forms, from pop-up activations to permanent installations, from B2B conferences to B2C experiences. The techniques used can address the senses in a tactile way or dazzle with digital engagement, but all experiential marketing programs share common elements.

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

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about live chat and chatbots overtaking email for retail communications, and its effect on customer and brand loyalty.

Independent research from Narvar and YouGov has revealed that the modern retailer needs to look carefully at the quality of the communications experience they are providing across all channels, both before and beyond the buy button.

The study also found that millennials and baby boomers strongly believe that fast and direct communications about an order is the number one factor in securing their loyalty.

Here are some Key findings:

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

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 Tom Schwab - Founder & Chief Evangelist Officer of Interview Valet.  Interview Valet is the concierge-level podcast guest marketing service providing the fastest way for authors, speakers, coaches, consultants, and brands to maximize the benefits of podcasting.

Their premium white-glove solution takes care of everything but the speaking!  They handle all the bookings on podcasts for you so you can reach your ideal audience with the least amount of snags or hassle.

To learn more about Tom and Interview Valet, I encourage you to visit https://interviewvalet.com/loyaltyminute/

Enjoy!

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about The 800-pound gorilla in the Loyalty program space, and that company is called Google.

As I’m sure you already know Google dominates every aspect of your life.  And after launching in the US last year, the Play Points program has been a great way to earn additional perks and treats for trying out brand-new applications and buying music, movies, and TV shows legally.

But what does it really mean that Google is giving you loyalty points for spending money on google play?

Maybe the better question is, with Google’s dominance in the ecommerce search space, what if they now decide to leverage that might and give people Google Play Points for buying items through it’s Google Shopping platform for everyday items?  I mean they did it in the travel industry once dominated by Kayak, booking.com and Travelocity and others, now google has a booking engine embedded directly in the search results.  That has to hurt the other aforementioned companies a bit.

Well it will be interesting to see what the 800 pound gorilla does with its new toy.

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

Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about what brand and customer loyalty mean to a company’s valuation.  In a nutshell it comes down to the company’s perceived purpose.

Brands with a high sense of purpose have experienced a brand valuation increase of 175% over the past 12 years, compared to the median growth rate of 86% and the 70% growth rate for brands with a low sense of purpose, according to Kantar Consulting's new Purpose 2020 report "Inspiring Purpose-Led Growth"

Among marketing leaders, 76% think their organization has a defined purpose, but only one in 10 have a corporate purpose statement that's backed by a meaningful activation plan. Two-thirds of marketing leaders believe that purpose delivers long-term growth, just one-third believe purpose is a company-wide movement.

Nearly two-thirds of millennials and Gen Z express a preference for brands that have a point of view and stand for something, the report found.

To learn more about this report 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 loyalty program fraud.  Now we're not talking about someone coming in to steal your points, it's more about the personal information that has significant value to hackers.

Loyalty program fraud rose 89% year on year, predominantly driven by the amount of personally identifiable information (PII) available from increasing numbers of data breaches. With direct and indirect losses from loyalty and reward points fraud estimated at $1 billion every year, enterprises are struggling to limit damage as fraud attacks shift from the point of transaction to different elements of the buyer’s journey, including new account signup, login, and promotion and coupon use.

Loyalty programs have grown steadily in the last decade, with memberships increasing nearly 10% year on year. Consumers have accumulated $48 trillion of unspent loyalty points globally. Nearly half (45%) of loyalty program accounts are inactive, with consumers not tracking or redeeming points.

To learn more about this and how to protect your loyalty program from fraud, and other great customer loyalty insights, please visit theloayltyminute.com  Enjoy!

Welcome Loyal listeners to today’s episode of the loyalty minute… Nothing can make your heart drop faster than feeling like you just lost a loyal customer.  But just because a customer is unhappy, it does not mean they are gone for good.  On the contrary, a company’s most loyal fans are often the ones that had a problem, and also had a fantastic experience getting it solved.

As we discuss so often on this podcast, Customer loyalty is key — and here’s how to make it happen.

The simple fact that a customer is bringing their problem to you — instead of simply walking away angry — shows that if you play your customer success cards right, you have got a great chance of winning them over.

To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!

In this episode we talk with Matt Barnett who is Papa Bear, CEO and head of product at Bonjoro, a 1-1 personalized video messaging platform changing the way companies build long term loyalty with customers from the get go.

I think you'll find some insightful stories as it relates to building better brand loyalty.  Learn what Virgin Airlines did to win Matt as a customer for life.  Enjoy!

Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at the Merkle Report Uncovering Buying Behaviors and Purchasing Power of Millennial Women.  The report was done in 2018, but the data is still very relevant today.

The population of millennials, which totals 75.5 million, represents a major market force in terms of buying power, spending $200 billion a year. It is estimated that millennial women represent approximately $170 billion of that market. According to the report, millennial women are exceptionally hard workers, with 40% having a "side-hustle" in order to fund their big purchases and projects

One of the key takeaways is that from your company’s own brand loyalty perspective, you should discover what their side hustle is, and see if you can help them achieve their goals.  Not only will you look like a superhero, but they may spend more of that side hustle money with you.

To learn more about this report, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!

Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at how Loyalty programs are another great way to create long-term relationships and boost sales. According to the Bond Brand Loyalty Report:

• 77% of consumers say they are likely to stay with a brand that has a loyalty program.

• 70% of consumers are more likely to recommend a brand with a good loyalty program.

• 63% of consumers say they're prepared to modify their spending habits in order to maximize the benefits of a loyalty program.

One of the biggest benefits of creating a well run loyalty program is it helps existing customers become brand advocates.  Just remember to set up your program to keep you customer feeling special and show them they matter, and they will gladly spread the word.

To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!