In November 2017, we released the first wave of our proprietary research on Loyalty 3.0, “Changing Consumer Expectations” which revealed how the changing dynamic between brands and customers is impacting brand loyalty. Our latest rDialogue research continues to validate the concept of “Loyalty 3.0” as well as the continuing effect of Amazon, which we call “Amazonification”. This recent study, fielded in late early Q2 2018, shows that leading brands are taking a cue from Amazon and beginning to broaden their value propositions beyond the traditional transactional offerings, like free product, discounts, and rewards.
Recently, rDialogue went to SunTrust Park and watched the Braves beat the Mets in an exciting game. The stadium is beautiful and… well, we could go on and on. In fact we did and here you can read all about rD’s outing at the ballpark. But here, we want to focus on the name on the side(s) of the ball park: SunTrust, along with the broader topic of sponsorships and activation of those sponsorships.
With Black Friday and the holiday shopping season upon us, retailers across the country should be laser focused on customer service in loyalty.
In the past few weeks, much of our work has centered around Loyalty 3.0, where te power of big data would allow brands to listen to customers.
Today, loyalty marketing is at a crossroads. Loyalty marketing is mainstream, with more than 3 billion loyalty program memberships, an average of nearly 30 per household, up from 24 two years ago. Yet, at the same time, there has been a 20% decline in memberships among the global affluent. This audience is disengaging from loyalty programs and it is plainly due to a lack of relevance (to members) and a corresponding lack of differentiation among the offerings.