Building profitable customer loyalty. Agenda Who we are Loyalty Discussion What IQ 724 can do for...
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Transcript of Building profitable customer loyalty. Agenda Who we are Loyalty Discussion What IQ 724 can do for...
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Building profitable customer loyalty
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Agenda
Who we are
Loyalty Discussion
What IQ 724 can do for You
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Who is iQ7/24?
We are a digital agency focused on creating customer retention, activation, loyalty and acquisition programs for small and medium size retailers.
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Our Experience in Loyalty
iQ has designed and implemented North America’s only manufacturer/car dealership loyalty program with Kia Canada
178 dealerships have their own independent program that also marries with Kia Canada National program
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Some of Our Other Clients
Coalition Marketing(Latin America)
Automotive
Recreational Vehicles
Retailers Spa & Hospitality
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Loyalty In Canada
94% of Canadian consumers own a loyalty card
Average consumer carries 4 different loyalty cards
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Loyal Customers
Loyal customers impact directly on company profitability:
They buy more
Are willing to pay more
Are more forgiving, and
Their endorsement is highly valued
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Research Insights
94% of members indicated that they prefer to receive communication from their programs
• 77% of loyalty members say e-mail is the preferred method for receiving rewards communications.
• The relevance of communications is strongly linked to satisfaction
20%
38% 49%
82%
93%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Strongly Disagree Somewhat Disagree Neutral Somewhat Agree Strongly Agree
% S
atis
fact
ion
% "The communications I receive from this program are relevant to me."
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Research Insights
A recent Maritz survey found:
80% of loyalty program participants agree that the programs are “definitely worth the effort of participating”
70% agree that loyalty programs are “part of my relationship with the company”
57% say that they modify where they buy items to maximize their points
79% indicate that “programs make me more likely to continue to do business with certain companies.”
Overall, the survey found that 71% of respondents:
“have room for more programs in their wallets.”
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Research Insights
Yet only 53% describe the communications they receive as relevant
• Relevance can be achieved by customizing communication with personalization that goes beyond just using the member’s name
• The top “Cool and Exciting” uses of personal information are:
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Our Philosophy
The purpose of any successful customer management program is not points or rewards, or discounts or plastic cards. It is, rather, the ability to:
IDENTIFY your customers
TRACK their behaviour
MOTIVATE and REWARD meaningful behaviours
ENGAGE them through personalized communications, and
MEASURE results
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The First Step
Knowing your customers and their buying behaviour is the 1st step towards developing any long term relationship and profitability.
iQ7/24 integrates with your POS system to capture transactional data automatically and in real time
iQ7/24 platform gathers customer information about their purchase history, behaviour, trends and financial relevance to your business.
iQ7/24 uses customer data to segment customers and prospects based on high, medium and low value.
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A Turn-key Solution
iQ7/24 offers complete support to help you to operate your customer retention/loyalty program including:
Strategic Program Planning
Creative Design
Tactical Initiative Development
Campaign Management
Customer Intelligence Analytics
Member Service Helpline
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The iQ7/24 Integrated Marketing Tool Box
A relationship loyalty program and commitment to your customers with points, $, rewards and sustained marketing communications.
A tactical promotions program, targeted and focused, without long-term commitment
The acquisition and management of member data, data mining, reporting, performance analysis and marketing intelligence
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Relationship Loyalty Program
Membership card or unique identifier
Continuous points program, $, benefits and rewards
Historical profiles, transactions, online help - custom web portal
Data transfer set-up and POS system integration
Dynamic management of the database
Periodic statements
Creation of targeted customer engagement campaigns
Performance analysis and key indicators
A team of consulting services and experienced support
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Tactical Promotions Program
Acquisition, analysis and data cleansing
Data transfer set-up and optional POS system integration
Targeting customers / prospects based on various criteria - dates of visits, $ spent, time of visit, day of week, items purchased, etc…
Creation of promotional customer engagement campaigns
Promotional tactics: free or conditional offers, discounts, special events, contests, etc...
Digital or postal communication
Communication analysis and performance
A team of consulting services and experienced support
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Cutomer Intelligence Management
Acquisition of data via transfer or in real-time
Dynamic management of the database
Powerful user-friendly SiSense dashboards
Performance analysis and key indicators
Historical reports, profiles, transactions, etc.
Custom web portal.
Integration with the iQ business rules engine
Customer engagement campaign-builder interface
A team of consulting services and experienced support
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The ultimate loyalty platform for flexibility and simplicity
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Conclusions
There is significant opportunity to promote consumer retention and increase purchase volume through a loyalty program
A successful Loyalty Program should:
• Place high value on best customers
• Motivate medium users to increase their level of purchase
• Provide a vehicle for Heavy Users to become brand advocates in order to drive referrals
• Offer relevant, attainable rewards
• Regularly communicate to members on a relevant and personal level using email
• Leverage brand strengths
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Questions?