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Add another layer to your stack

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Add another layer to your stack


MarTech’s daily brief features daily insights, news, tips, and essential bits of wisdom for today’s digital marketer. If you would like to read this before the rest of the internet does, sign up here to get it delivered to your inbox daily.

Good morning, Marketers, and good thing you never have to let go of a technology you really love.

Take email, for instance =-)

And why would we look to replace email when it’s such an effective way of distributing news and personal messages for many (but not all) occasions?

MarTech is happy to welcome guest contributor Anita Brearton of CabinetM, and in her piece yesterday, she wrote: “As new channels and marketing practices are introduced, they rarely replace something already in place. More often, they become another layer in the marketing program.”

Yes, marketers keep adding on layers, and that’s why we want to hear about how these stacks keep growing as part of our Stacks Stories initiative. Let us know!

Chris Wood,

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About The Author

Chris Wood draws on over 15 years of reporting experience as a B2B editor and journalist. At DMN, he served as associate editor, offering original analysis on the evolving marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to former Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the country’s first federal CIO. He is especially interested in how new technologies, including voice and blockchain, are disrupting the marketing world as we know it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. In addition to his marketing-focused reporting in industry trades like Robotics Trends, Modern Brewery Age and AdNation News, Wood has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading book blogs. He studied English at Fairfield University, and was born in Springfield, Massachusetts. He lives in New York.

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MARKETING

Martech failure? 50% say loyalty programs don’t offer much value

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Martech failure? 50% say loyalty programs don't offer much value

The goal of martech is to add value for business and customer via personalized experiences which increase brand engagement. Loyalty programs seem like the perfect channel for this. So why is there such a huge gap between customers’ expectations for those programs and what they get?

Half of all US customers say loyalty programs don’t offer much value, according to a report from digital insights firm Incisiv and Punchh, a customer loyalty services provider. This is a real problem, given the huge impact these programs have on customer retention, satisfaction and brand advocacy. Customers who sign up for them engage with that brand 70% more than those who do not. 


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The gaps. So what is it customers want and aren’t getting?

  • 70% prefer to manage loyalty programs via app.
    • 26% Top 150 retailers and restaurant chains have a dedicated loyalty app.
  • 67% expect surprise gifts.
    • 28% Retailers and restaurant chains send gifts, offers or discounts on special occasions
  • 75% prefer instant discounts/redemptions.
    • 16% Retailers and restaurant chains offer instant discount on purchases instead of reward points.
  • 72% expect personalized rewards.
    • 48% Retailers and restaurant chains offer some form of personalization.

Enough with the cards already. It’s 2022 and people have been irritated about physical loyalty cards for decades. In case your own experience isn’t proof enough: 43% of shoppers say physical cards are the biggest obstacles to claiming rewards. And, this shouldn’t be surprising, 57% of shoppers like to engage with loyalty programs on their mobile phones. This means a digital rewards card is the bare minimum if you don’t have an app. 

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Read next: Leaning on loyalty, Chipotle orchestrates engagement across channels

If you do have an app, it should clearly provide more functionality and benefits than a card. The more it does that, the more people are likely to use it. Over 70% of shoppers are more likely to participate in a loyalty program that provides access to loyalty cards and rewards via its mobile app. However, only 4% of grocery retailers offer enhanced rewards or benefits on their apps.

Make members feel special. Joining a loyalty program signals that a customer values your brand (37% of shoppers are willing to pay to join or upgrade to a higher tier of their loyalty membership). Make sure they know you feel the same about them. Nearly 60% say loyalty programs don’t make them feel they are a part of an exclusive group. How? Well, 46% want premier or exclusive access to sales and promotions.

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Why we care. I can’t tell you how many websites I registered with and forgot about that send me an email on my birthday. I get them from a few loyalty programs as well. I’ve never gotten one with an offer or a discount. 

The bare minimum martech stack provides data unification, digitization and channel integration. A good one offers real-time analysis of customer behavior (past purchases, browsing history, etc.) combined with things like product attributes and availability to create an attractive personalized offering. For the customer, loyalty programs have to be more than a way to earn points. They have to give something unique and special. If your stack can’t tell you what that thing is, there’s something wrong with it.

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About The Author

Constantine von Hoffman is managing editor of MarTech. A veteran journalist, Con has covered business, finance, marketing and tech for CBSNews.com, Brandweek, CMO, and Inc. He has been city editor of the Boston Herald, news producer at NPR, and has written for Harvard Business Review, Boston Magazine, Sierra, and many other publications. He has also been a professional stand-up comedian, given talks at anime and gaming conventions on everything from My Neighbor Totoro to the history of dice and boardgames, and is author of the magical realist novel John Henry the Revelator. He lives in Boston with his wife, Jennifer, and either too many or too few dogs.

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