The latest crypto secret weapon — Hyper-personalize shopping
Retailers always look for ways to increase customer loyalty, drive sales, and remain competitive. One way is through digital rewards programs to incentivize customers to keep coming back by rewarding them with points or other perks when they shop at that store or chain. But not all digital rewards programs are created equal, and many retailers have struggled with them because of the limitations of traditional rewards software. For example, these solutions often require separate apps, websites, and account management systems, which makes it inconvenient for customers to manage their loyalty accounts. In addition, these solutions usually don’t offer much customization regarding products or services provided as rewards to customers. For example, a retailer might want to offer rewards such as free shipping on orders over a certain value or even free in-store pickup if the shopper meets certain conditions.
Why loyalty programs fail
Most loyalty programs are just that — programs. They aren’t actually connected to any customers. Retailers might track how many points customers earn, but they don’t know anything about their customers. This creates a disconnected shopping experience, and studies show that customers are becoming less and less interested in traditional points-based loyalty programs. A Forrester survey found that only 22% of people were interested in traditional loyalty programs, down from 32% in 2012. Retailers have struggled with these problems because most loyalty program software is built on old technology. Most retailers still use traditional point systems, which aren’t designed to be highly customized or personalized. In addition, these systems often require separate websites, apps, and account management systems, which makes it inconvenient for customers to manage their loyalty accounts.
Brands that focus on a personalized service often forget that consumers
As retailers try to increase customer loyalty, many brands have forgotten that offering personalized service is the best way to do so. A recent survey found that customers are three times more likely to buy from a retailer that offers personalized service than those that don’t. But most retailers either don’t provide…