Traditional card-based, in-store loyalty programs may be in decline, but the digital revolution presents a major opportunity for retailers. Did you know, for example, that 69% of consumers are more likely to use a retailer’s loyalty program if they can store the card on their smartphone? Did you know that 70% of US millennial consumers shop online at least once per month and 33% do it on their mobile devices?
That’s the kind of insight you’ll find in our compelling and thought-provoking new eBook, “Digital Transformation: The Power of Physical to Digital Loyalty.”
Freely available for download, this in-depth report offers cutting edge analysis from the leading retail advisory firm EKN Research. Learn how an omnichannel approach, encompassing physical and digital loyalty programs, can inspire greater brand engagement and boost your customer retention.
“There is a compelling need for retailers to be omnipresent with their customers — be it mobile, social or physical,” explains report author, Sahir Anand, VP Research & Principal Analyst at EKN. “It’s time to switch from today’s in-store-focused loyalty model to a digitally-inclusive omnichannel program that will drive higher profitability.”
The report lays out the challenges of traditional card-based loyalty programs. They are often too complicated and they’re not very user-friendly. More than 50% of all customer loyalty cards are inactive, most likely because consumers prefer to easily and quickly access sales incentives such as digital one-time use coupons, directly on their smartphones and mobile devices.
As consumers shift from a purchase path based on bricks-and-mortar stores to online stores, retailers must adjust to meet their changing needs.
A fresh paradigm is required, so that retailers can offer a seamless experience across all channels, integrating rewards, perks, and VIP programs into an accessible loyalty program that works for customers wherever they happen to be, whether in-store or online.
The interest is keenly there: 57% of consumers want to be able to check their points balances on their smartphones, 55% want to be able to redeem reward points, and 54% want the ability to browse reward options.
Retailers must fulfil these expectations by offering a responsive omnichannel loyalty program that is:
- Easy to access and to digest
- Truly convenient and fully personalized
- Simple and straightforward to sign up
- Delivers long-term value for customers whenever they choose to engage with the brand and make purchases.
This eBook details the three pillars that will serve as a steady foundation for your new loyalty program:
- Find out how to create a holistic customer experience
- Connect the dots between customer growth and loyalty
- Dig into valuable and actionable insights about your customer’s preferences and behavior.
Taking full advantage of consumer shopping trends and digital transformation, retailers can offer a seamless experience across all channels, integrating rewards, perks and VIP programs into an accessible loyalty program that works for customers in-store or online.
New processes and technologies are consistently emerging through digital transformation. Crafting a successful strategy is about integrating the physical and digital worlds. This fascinating report will help you to develop an omnichannel loyalty approach that will work for all retailers and their customers.
To find out more and take the first step towards your own omnichannel loyalty program, download “Digital Transformation: The Power of Physical to Digital Loyalty” by clicking here.