At the recent Customer Relationship Management Conference, Shaun Smith, author and partner, Smith & Co., spent an energizing morning talking about what defines a bold organization and how that manifests itself in relating to customers, prospects and employees. What defines a ‘bold’ organization?
What do Citi, Sony, Michael’s, Epsilon and four leading Australian banks have in common? The answer is globalization — of consumer data intrusion, that is. Do retailers need to go beyond PCI standards for themselves and vendors?
The daily deluge of “deal of the day” offers with Groupon, Living Social and others assembling collective buying discounts continues to flood our e-mail inboxes. Is the effectiveness of promotions at traditional retail being diluted by “daily deal” coupon offers?
Breakage–the value of unredeemed points in loyalty programs–is a key influencing element of loyalty marketing financial models, but attitudes towards breakage are changing. Do you see retailers and other brands seeking new ways to engage their customers by making loyalty points easier to redeem?
Sales talking points from store personnel leading up to the purchase decision are centered on the high quality of the item being considered, but once that decision is made — whoosh — the chatter morphs to emphasize the need for a consumer protection plan. Do extended warranty programs at retail undermine loyalty efforts?
Wegmans manages to instill strident customer loyalty without loyalty programs. What do you think of Wegmans’ efforts to create customer loyalty through an enterprise approach that values its customers and employees, but downplays an explicit rewards offer?
Cash is king. During the past two years, this age old encouragement from our fathers has been driven home with punctuation. In the loyalty and rewards game, cash is king in a different way. Will cash back rewards continue to become more and more popular with consumers, or is it just a temporary reaction to this recession?
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