Loyalty Programmes
In 2008, everybody is talking about ‘credit crunch’ and recession.
Economic downturn and consumer financial hardship have great influence on companies’ financial health. As resources become scarce and revenue is limited, it is more important than ever for companies to communicate effectively with their customers and maximise return on investment.
Customer loyalty programmes provide endless opportunities to understand consumers and their spending habits. More importantly, it provides companies with relevant information to target their marketing communications in a customised manner, thus increasing their profits.
Through the use of loyalty programmes, the database becomes a company’s most strategic asset and can help to defend against the effects of a recession.
In fact, a loyalty programme can help you to increase profits by bringing your data to life and focusing on four objectives to improve profitability:
- Get more new customers (acquisition)
- Get existing customers to (retention):
- Spend more often
- Spend more per transaction
- Reduce attrition
GI Insight has a proud track record of delivering customer loyalty programmes to a variety of industry sectors. With cutting-edge technical know how and leading industry expertise, clients trust us with their brands every day and our aim is to transform your data into a strategic asset and remove the hassle of running a loyalty programme, while adding significant insight and value into the management of customers.
Loyalty is not new, it is just misunderstood. It is not about points for prizes or plastic cards. It is about using customer transactions to understand their behaviour, what they are (or will be) worth to you, then finding ways of keeping the profitable customers you want and persuading them to spend more with you.