They want to trade it for fair value. Your customers, the average consumer, is daily becoming more aware that their data has value.
- Value to them in that they recognize the security risks of giving up the wrong data in the wrong places.
- Value to you, their vendor. What value? What are you going to do with this information?
Whether your customer is concerned about giving you information out of a security fear or just because they are bargainers by nature, they want some tangible value in exchange. According to a recent LoyaltyOne survey, 77% of consumers don’t feel they are getting any value from sharing their personal information. Yet 63% of those same survey participants said they would give up more personal information if they thought they would receive “relevant products and service offers in return”.
This is no surprise, customers continue to report a desire for personalized service. Relevancy of your product and service is why they’ve come into contact with you to begin with. The more relevant you can make yourself to their needs and goals, the more personal will you be perceived by those customers.
Let’s face it, coupon and even other loyalty programs can feel a bit mercenary. The pitch, “Come look at this shiny trinket so I and my 10,000 other coupon cooperative members can market at you”, is not what your quality customers are interested in, are they? We at GetOne Rewards, agree!
We believe in a multi-stage approach to proving to your customers the value of providing you additional information.
- The first is obvious. Fair trade. “Provide me some of you information and get an immediate reward for doing so.” This data is between you and your customer. GetOne is here to facilitate your business, your brand, your messaging, your relationship with your customer, not a collective, marketing noise machine carrying on who-knows-what communications with your customer over which you have no control.
- The next is then using that information to deliver “relevant products and service offers in return”. This is why you really want the information after all, isn’t it? If you know what your customer’s preferences are in regard to why they visit you, then you can use this to encourage their frequent return. If you know their birthday combined with their preferences you can provide a perfectly timed, relevant offer. That’s a solid relationship building opportunity, don’t you agree?
- You can continue by crafting automated, targeted (i.e. relevant) promotions specific to each customer. We refer to this as Automated Relationship Management (ARM).
GetOne’s digital loyalty service facilitates just such capabilities moving beyond loyalty as a single, marketing approach to a comprehensive marketing program that:
- Works for you while you are focused on your core business. It is unlikely you started your business to pursue being a marketing guru, eh?
- Provides you the ability to build relationships with your customers even when they aren’t physically in your store.
Your customers are looking for that personal touch, otherwise they could just stay home and shop online or stop at the competing vendor they drive past to get to you.
We would love to have the opportunity to discuss how you can provide what your customers are seeking, which results in a profitable, comprehensive, customer delighting marketing program where everyone wins. Contact us today!
LoyaltyOne survey numbers quoted from, “TIPPING POINTS IN AN ECONOMY OF ONE” by Bryan Pearson, March 3, 2014