How a Personalized Customer Experience Increases Revenue and Loyalty

How a Personalized Customer Experience Increases Revenue and Loyalty

Grace Alexander

MarTech Blogger | April 14, 2022

You know what your customers want, what they’re interested in, and how they like to communicate. That is, if you’re using data effectively. But how can you turn that information from points on a graph into real-time actionable fuel for top line growth in loyalty and revenue generation?

The key lies in the kinds of customer experiences you create. In an era of constant digital communication between people and companies, having hyper-personalized and meaningful interactions with consumers is what stands out.

Surprise and delight your customers by proactively acknowledging and fulfilling their asks.

Building revenue and brand loyalty with personalization

One of the first points to understand about personalized customer experiences is that shoppers have come to expect this level of custom treatment.

McKinsey reported that personalization has moved from nice-to-have to need-to-have. People expect customized content, and they may devalue companies that don’t offer it. In retail, personalization can lift brand loyalty while lowering marketing expenses by 10-20%. Even in the grocery space, where companies deal with large customer bases and must launch all their programs at scale, a customized experience can lift sales by 1-2%.

Personalization is tied to a few of the other concepts that have powered retail in recent years, namely the increasing use of data and the development of effective rewards schemes for a brand’s most loyal shoppers.

McKinsey’s report added that personalized interactions aiming at customers who are already repeat buyers can drive powerful return on investment, at three times the rate of efforts that target all customers. From there, these customers repeatedly provide data as they return and interact with the company multiple times, making purchases or redeeming rewards. That information further fuels personalization and deepens the bond of loyalty.

Creating truly unique experiences with hyper-personalization

While companies have been using limited forms of customized outreach for years — segmenting their audiences and tailoring experiences based on interests and demographics — modern personalization is different. The era of hyper-personalization is here, where each individual has unique brand interaction experiences.

What’s the fundamental difference between doubling-down on segmentation and adopting real hyper-personalization? According to Deloitte, a real commitment to modern customized customer experiences means changing the entire way a business thinks about the customer journey and its relationship with its audience.

A hyper-personalized experience could start with a recommendation engine powered by advanced analytics categories, such as artificial intelligence (AI). This allows companies to create truly unique suggestions from each individual. From there, the use cases become more advanced, from personal pricing to products designed for a single person.

Example: Cadbury’s social media success

As a real-world example of its customer experience research, Deloitte reported that the confectioner Cadbury created highly personalized display ads based on customer data, provided with consent through Facebook. These custom marketing messages earned click-through rates of 65% and conversion rates just over one-third.

Probing the psychological link between personalization and brand loyalty

Personalization has the power to deepen the loyalty of existing shoppers and even, as in the Cadbury example, to win over new prospective customers. The key to getting these reactions, rather than making customers uneasy with the level of data companies are using, is to focus on positive experiences.

When personalization goes right

When are people most likely to willingly share their data and get customized experiences in return? According to PricewaterhouseCoopers, the key is to provide products or services that people truly value. In those cases, 63% of consumers are more willing to give companies personal information. This is significant, as 43% of people are generally opposed to data collection by businesses.

When a brand is closely aligned with a person’s lifestyle and interests, there is room to create a deep and lasting relationship. A customer who feels a brand appreciates them is willing to pay up to 16% more for that business’s services and goods, and will stay more loyal over time, according to the PwC data.

When personalization goes wrong

Just as there are companies that use customization effectively, there are those that make mistakes. Psychology Today noted some of the tactics consumers don’t like. Sometimes, a business can attempt to create a connection with audiences but fail, because they’ve gone too far. People who feel manipulated by a business, or who did not realize how much of their information a marketer has, may feel unhappy about losing control of their data.

While trying for a deep connection can backfire, so can shallow efforts at personalization. When a business makes a recommendation that is seen as stereotypical, that can drive customers away. The same goes for trying to give people information they already have. These surface-level efforts at customization don’t suit the preference for real understanding and mutual trust.

Taking customer engagement and personalization to the next level

How do companies get started personalizing their interactions with customers? A separate McKinsey report recommended that brands can begin their efforts sooner than they may assume. Rather than launching new efforts to organize or rethink data, businesses can use existing interaction data from their customer relationship management (CRM) systems.

Early efforts to personalize the customer experience should reach consumers through many different communication channels, rather than just one. There should be mechanisms in place for the business’s teams to collect real-time data on their new, personalized interactions and adjust on the fly based on their findings.

Personalizing customer experiences with Perx

If you’re hoping to join the many companies embracing personalization as a pillar of customer engagement marketing, Perx is the perfect customer engagement platform for you. Perx is a lifestyle marketing platform, meaning that customizing offers based on customer data is in the technology’s DNA.

The crux of the Perx customer loyalty management system lies in using data to generate rewards, experiences and interactions that will delight loyal customers. This, in turn, gives your organization further data to deepen your connection with your audience.

To see this cycle for yourself, request a demo.

Recommended for you

The Privacy Paradox: Balancing Convenience with Data Protection

The Privacy Paradox: Balancing Convenience with Data Protection

Strategy Insights, Blogs, Retailers

Navigating the Marketing Landscape: Trends to Watch in 2024

Navigating the Marketing Landscape: Trends to Watch in 2024

Blogs, Digital Marketing, Customer Retention

Transforming Digital Banking: A Success Story & Our New Partnership

Transforming Digital Banking: A Success Story & Our New Partnership

Blogs, Cookieless Future, Customer Retention

Beyond the Cart: Strategies for Customer Retention in Every Retail Channel

Beyond the Cart: Strategies for Customer Retention in Every Retail Channel

Blogs, Cookieless Future, Customer Retention

Navigating the AI Revolution: Standing Out in Today’s Digital World

Navigating the AI Revolution: Standing Out in Today’s Digital World

Blogs, Retailers, Customer Retention

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

Leveraging the Critical Stages of Customer Loyalty Marketing

Leveraging the Critical Stages of Customer Loyalty Marketing

Grace Alexander

MarTech Blogger | April 14, 2022

When does the work of customer loyalty building take place? For companies that have achieved best-in-class retention and customer experience, the process starts before someone has made a purchase and continues for as long as that consumer is interacting with your brand.

Starting early means you can gather the maximum amount of data on your prospective customers and continue presenting them with experiences that will delight them. This creates a positive feedback loop, as each time you deal with that individual, the interaction can be better tailored, utilizing all the data you’re collecting.

Defining the stages of interaction

Though customer loyalty marketing is an ongoing process, it doesn’t always proceed at the same speed. Rather, there are important points on the timeline. First, there’s the preliminary work that goes on before a consumer buys from you. Then, there are the everyday activities as they become part of your customer ecosystem. Finally, there are the outreach opportunities to keep people from disengaging from your brand.

With the right strategy and technology, your brand can master all these stages and create a loyal, ever-growing customer base to support your bottom line. By breaking down each of the three key phases of customer contact, as well as demonstrating how a lifestyle marketing platform can assist you at these moments, it’s possible to envision a better approach to loyalty marketing.

1. Focusing on pre-acquisition steps for loyalty and retention

Is it possible to build loyalty before a prospect has even become a customer? If you take a modern approach based on positive customer experiences, you’re well on your way to winning people over before their first purchases.

Pre-acquisition prep work to stream prospects into loyalty programs starts with customer engagement. By running the data on your prospective customers’ wants and needs — the components of their lifestyle — you can create offers that will match their deeply held long-term goals.

Once you’ve segmented your prospective audience based on your current customers’ profiles, it’s time to generate incentives and offers that will bring in business. These should involve no-strings-attached benefits for first-time engagements. Follow these gifts up with gamification and positive, enjoyable interactions and you’ve captured new customers for your lifestyle marketing ecosystem.

Gamification is a critical element, as these enjoyable and digital experiences have been proven to keep users more engaged. Gartner stated that gamification can boost both customer retention and new business acquisition.

Why use Perx to create your loyalty ecosystem?

Perx’s recently launched lifestyle marketing platform is the perfect technology tool for brands hoping to capture business through the power of customer experience. How does it work?

The Perx Loyalty Engagement Platform enables brands to lead with engagement and not loyalty, innovate beyond their core business models and create monetizable lifestyle ecosystems around their closed-loop network of consumers, partners, and merchants. This approach not only allows brands globally to better address and solve customer lifestyle wants and needs but also builds a moat around those customers by drastically increasing brand touchpoints. With advanced gamification and campaign automation capabilities, hyper-personalized and instantly gratifying incentives, the platform has proven to be an effective enabler of the digital lifestyle ecosystems for enterprises and digital natives.

Anna Gong, Perx CEO and founder

2. Leveraging a customer loyalty program for first time and repeat buyers

Customer loyalty programs work best when they encourage consistent engagement between your audience and your brand. This means rewards and incentives should exceed the traditional “earn and burn” points model, which could leave consumers unable to accomplish anything worthwhile for long periods of time.

Personalization is key, as users are less likely to disengage from your ecosystem if you keep offering them meaningful incentives. Continuous engagement starts with the bonus you use to attract first-time buyers and proceeds from there, welcoming these consumers into your loyalty ecosystem.

Generation Z customers, growing up as digital natives, can be especially demanding when it comes to brand experiences. Give these young shoppers generic or non-engaging interaction and reward options and they may not pay attention.

How does the Perx platform bring customers from intake to loyalty?

The Perx lifestyle marketing platform supports consistent meaningful interactions designed to delight customers and keep them deeply engaged.

In our recent execution with Perx, we drove over a million customer actions, targeting a specific test segment, in just 100 days from the point of onboarding, and over 70% of them were actions that contributed to the top-line growth of the brands.

Stephanie Kubota, RUSH CEO

3. Rescuing customers from post-action disengagement with loyalty retention

After you’ve captured customers, you need to make sure they never have a reason to desert your ecosystem. What drives people away from companies? In short, the issue is negative experiences.

According to PricewaterhouseCoopers research, 59% of consumers in the U.S. will stop dealing with a brand they love if that company has given them several bad experiences. For 17% of customers, all it will take is one bad interaction to destroy the brand-client bond.

When your lifestyle marketing, customer experience and retention efforts are based around accurate, up-to-date data, you can adjust in real time to make sure you’re on the right track. If consumers are unhappy, you can detect the issue and respond right away. If they’re even becoming ambivalent, it may be time to offer up reminders of the rewards available.

How does the Perx platform help brands keep their customers loyal?

By using data to help companies build customer relationships around valuable, high-impact interactions, the Perx platform delivers consistent positive experiences.

Unlike other solutions, Perx’s Loyalty Engagement Platform actually drives meaningful customer engagements and is built to digitally engage better. An outcome of that is more customer stickiness and real customer actions that contribute to the top-line.

Maneesh Verma, Starhub VP of customer lifecycle management

Customer Loyalty Marketing Enabled by Perx

When your brand wants to commit to every step of the customer journey, from pre-purchase offers to everyday interactions and churn-stopping outreach, Perx is the ideal platform for you.

Learn how the increased number of touchpoints and focus on continuous engagement can help our brand: watch a video overview or request a demo.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

What Metrics Are Critical to Measuring Customer Loyalty?

What Metrics Are Critical to Measuring Customer Loyalty?

Grace Alexander

MarTech Blogger | April 13, 2022

The stakes are high when it comes to identifying the right customer loyalty metrics. These measures are essential for benchmarking your customer relationships and measuring the impact of your retention strategies. To get the most out of a customer loyalty program, you need a reliable way to measure the effort’s impact.

There are many ways to measure customer loyalty, but not all of them provide equal value. If you want to truly understand your brand’s relationship with customers, it’s important to progress beyond superficial “vanity metrics” and drill down on more relevant, revealing key performance indicators.

As a definitive Bain & Company survey on customer retention explained, companies almost never recoup their acquisition costs on a customer’s first purchase. That means you need to understand how retention works to achieve optimal value. Tracking the most important metrics is key to that understanding.

Measuring customer loyalty: The 6 metrics that count

When you’re setting up a dashboard to measure customer loyalty and retention, you don’t need to include dozens of metrics. As long as you focus on meaningful behavioral factors that truly reflect customers’ interests, intentions and engagement, you’re on the right path.

With the following six impactful metric types, you can get a clear view of your campaigns’ performance and the resulting return on investment (ROI):

1. Net Promoter Score

Net Promoter Score (NPS) uses the customer experience to predict your company’s potential for growth. It is based on rating your customers from 1-10 depending on how likely they are to recommend your company to friends. The scale provides clarity on your future prospects by dividing your current customer base into detractors (not likely to recommend), passives (not enthusiastic but satisfied) and promoters (brand advocates).

2. Upsell ratio

In the same vein as your company’s repurchase ratio, your upsell ratio is a valuable descriptor of your customers’ relationship with the brand. If people are willing to spend more money to engage with your products and services on a deeper level, this is good news for your customer experience. If you’re only selling base-level items, it’s time to consider new incentives.

3. Customer lifetime value

Getting maximum value out of each customer relationship is a core objective of retention and loyalty marketing strategies. Your dashboard should therefore include a clear measurement of how much return on investment each individual is providing. These calculations can provide useful intelligence on the relative success of outreach efforts.

4. Repurchase ratio

Getting someone to buy from you once is a triumph of marketing. Twice is the start of loyalty and real customer lifetime value. Considering the fact that a single purchase will likely not recoup acquisition costs, you need to pay close attention to what percentage of your clients buy again. A low repurchase ratio may be a clear sign of a weak customer experience.

5. Customer Loyalty Index

Customer loyalty index is a score used across the marketing space. It combines several of the other scores, such as NPS, repurchase intent and upsell intent to create a unified view of loyalty. A customer who is willing to spend more on your products, buy multiple times and refer others is a valuable asset, so it pays to directly measure how close consumers are to this ideal.

6. Customer Engagement Score

A customer engagement score (CES) is a measurement of the types of interactions your audience members have with your company. If people are actually using your products, communicating with your brand or engaging with your mobile app experience, that raises their CES. It can be valuable to understand which of your outreach efforts are convincing people to engage further and which have a more shallow impact.

With a reliable tracking method for these six metrics, you can stay aware of fluctuations in customer loyalty. That, in turn, will help you shape your outreach and retention tactics for years to come.

Mistakes brands make with customer loyalty and retention

Not every company maximizes ROI with an adaptive, data-driven customer loyalty and retention strategy. Some businesses end up going halfway in these attempts, launching programs that seem effective but are slightly misaligned. What are some of the defining features of these non-optimized attempts?

A lack of relevant rewards: When the MIT Sloan Management Review laid out important concepts of rewards programs decades ago, it established the variables customers use to judge the value of rewards: How valuable do the offerings seem? How many choices are on offer? How easy will it be to earn those benefits? Is the reward program user-friendly? Failing to consider these issues could lead to weak customer benefits.
Limited channel options: Companies that don’t make their customer retention and loyalty programs available on users’ platforms of choice may quickly lose audience attention. Lack of a mobile application interface may be especially devastating today. What’s worse, brands that fail to track effective metrics may never realize if they are missing customers’ preferred platforms.
Focus on the most loyal: Customer loyalty and retention programs shouldn’t be limited just to customers who are already committed to a brand. Businesses that neglect to open their rewards programs to new and recent customers may miss out on opportunities to collect and use data. Processing data on these shoppers can create fruitful new relationships.

Good dashboards help businesses avoid these pitfalls and more by sending clear signals about which efforts are having a positive effect on ROI — and which aren’t working.

Lifestyle marketing for an emotional connection with customers

While modern customer retention strategies are driven by data, they aren’t cold or robotic. In fact, the end result of these programs should be to create a kind of loyalty Harvard Business Review calls “emotional and irrational“.

People who have committed to such customer relationships don’t just keep redeeming rewards because it makes economic sense. Rather, they are happy to keep engaging with the brand because they feel like part of a club. The experience of interacting with the brand and their fellow customers feels good, and the incentive to stay reaches beyond their wallets.

Do you know if your brand is creating this bond? To understand where you are on the path to loyalty, you need a comprehensive dashboard that tracks the right metrics. This is what you get as part of the Perx Loyalty and Engagement Platform. Request a demo to see how this technology can help you.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

Feasting on a long-lasting connection with your customers

Sundeep Keramalu

Director, Marketing Content | January 27, 2022

According to Oxford University researchers, a tiger’s brain is sixteen percent larger than a lion’s. As a result, Tiger is now widely believed to be the jungle king, contrary to what we were taught in school.

Just as people have traditionally believed that the lion was the king of the jungle, brands have always assumed that customer acquisition was paramount, and that customer retention was irrelevant. The reality, however, has been quite the opposite.

Businesses in the United States lose $136.8 billion annually due to poor customer retention.

Customer retention isn’t hard to achieve; it’s just that brands rarely put up the effort to hit hard where it counts.

When you don’t prioritize customer retention, you’re a sitting duck waiting to get devoured by your competition, who, by the way, has been listening to the sounds of the jungle and is ready to attack when you’re least expecting it.

Have a tiger in your tank.

Customer loyalty initiatives that delighted Baby Boomers and Generation X are not enough to excite the brands’ generations. Today’s loyalty programs perform better when tailored based on previous transactions and customer data. Sixty-four percent of customers expect personalized customer experiences based on previous transactions.

That is precisely what Perx Platform enables you to achieve. To begin, it detects the specific customer behaviors that contribute to your revenue. Second, it finds the incentives that will motivate your customers to take action. Third, it transforms your static digital efforts into dynamic, interactive, data-driven experiences. Finally, gamified rewards make customers feel good about what they do right away.

Don’t have a tiger by the tail.

Companies are frequently attracted to build software in-house to address complicated business challenges. However, while cost, control, connectivity, and maintenance are all reasons why businesses choose to develop software in-house, this is not always the prudent course of action. According to Gallup, one out of every six IT projects had a cost overrun of 200 percent and a schedule overrun of about 70 percent.

Perx is aware of the issue. That is why its industry-leading approaches such as Continuous Integration & Continuous Delivery (CI/CD), automation testing, and dockerization have become industry standards in the SaaS arena. At Perx, we take innovation and delivery to the next level by setting up our technologies and teams and rapid development procedures. We take pleasure in co-innovating to solve difficulties for our partners and clients in a matter of weeks.

When in doubt, ride a tiger.

Customers are more likely to leave if you take a reactive rather than proactive strategy. Find out what your lost customers are complaining about, and modify your product, pricing, or positioning to address their concerns. Analyze the trend if many people leave at a given moment. Collect feedback, centralize it, and figure out why most of them are going.

Fifty percent of millennials said they dropped out of a loyalty program because the rewards took too long to accumulate. In a fast-changing digital economy, traditional static loyalty and rewards programs are no longer effective. They are expensive to maintain and have become a liability for companies worldwide, negatively impacting profitability.

Customers today have a lot of expectations. Perx believes that how businesses interact with consumers and ecosystem partners needs to be rethought as their behavior constantly changes. Perx’s LMP is built to help brands move from being short-term and transactional to delivering meaningful relationships to millions of customers and partners worldwide.

If you want to be the new king, don’t just roar, roar to conquer.

70% of brands having a loyalty program do not allow customers to choose their favorite reward.

When you reward a customer, you are appealing to their emotional side. By doing so, you begin the process of developing a bond. As time goes on, they’ll regard you as more than just a product! As a result, it increases customer loyalty, encouraging repeat purchases that increase your revenue. This means you have to give them what matters to them and not what matters to you.

The majority of loyalty programs have the same goal: to keep consumers, increase customer lifetime value, and demonstrate appreciation. The customer’s last-mile journey is crucial to any engagement strategy. Finally, the platform extends this last mile by engaging customers in dynamic, gamified, and incentive-driven engagements that encourage them to do the actions and transactions they were truly aiming for. Additionally, Perx has established the Rewards Marketplace, which features an extensive curated range of retailer rewards that are linked with the digital consumer’s lives. Brands can respond to the quick gratification trend by rewarding customers for their behaviors through customized lifestyle rewards in only three simple clicks. Furthermore, organizations that want to launch their own in-app mobile commerce store and create a new revenue stream can do it without making significant investments or allocating essential resources.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

Know your customers, so they say no to your competitors

Know your customers, so they say no to your competitors

Sundeep Keramalu

Director, Marketing Content | January 20, 2022

When comparing conventional influencers to everyday social media users, according to recent research from Bazaarvoice, 56 percent of social media users choose to follow “everyday” social media users, such as friends, family, and peers.

It’s not about paying influencers to sell your product; it’s all about paying attention to your end customers so that they can sell your product for you without having to pay for it.

Covid has continually reshaped consumer behavior. There is no longer any distinction between online and offline transactions. When all touchpoints and experiences are interconnected, the best results are achieved. Customers want everything, and brands must provide it. Shopping is expected to be quick and efficient. Experiences are expected to be rich and immersive. Payments are expected to be intuitive and straightforward.

That’s not all, though. What brands used to believe people wanted is no longer what customers wanted. More than 1,000 U.S. consumers polled by First Insight and Wharton’s Baker Retailing Center indicated that 68 percent were willing to pay more for sustainable products. What’s more surprising is that 94 percent of retailers believed customers preferred brand names to sustainability!

Want repeat business? Don’t repeat your mistakes.

Is your solution a problem?

If your solution is intended to solve a specific problem but fails to do so, the customer will no longer buy from you. However, even if your product does not meet their needs, if they continue to use it, it is just until they find a better alternative.

Your support sucks?

Poor service will drive 96 percent of your customers away.

God help you if you have a lousy product and poor support customer service!

However, if your product is subpar but your customer service is excellent, you have a chance to retain the customer and enhance your product.

But if your service is terrible and your product is awful, your consumers will not put up with such nonsense. https://www.destinationcrm.com/Articles/CRM-News/CRM-Featured-Articles/72-Percent-of-Consumers-Will-Switch-Brands-After-One-Bad-Experience-Study-Finds-135838.aspx” target=”_blank” rel=”noopener noreferrer”>Eighty-six percent of consumers will tell others about a horrible experience they had with a product.

If you want to be top-of-mind, don’t put your customers at the bottom.

Sell a relationship, not a product.

The most important indicators for assessing new-age organizations are customer lifetime value and customer acquisition costs.

According to a Bain & Company research, 60-80 percent of satisfied consumers do not return to conduct further business with the company that first satisfied them.

Having a solid relationship with your customers is a great way to build brand equity. This is a substantial part of brand equity, but it is also the hardest to achieve and sustain. As a result of their emotional attachment to your brand, customers are more likely to buy from you again in the future. As a result, they may serve as brand ambassadors by participating in social media discussions on social media and brand community forums.

To be in touch, increase touchpoints.

Robert Zajonc, a social psychologist, came up with the Mere Exposure effect in the 1960s. It says that when people are used to something, they like it more. And if they have two choices, they’ll choose the one they’ve been exposed to the most, even if it’s not as good as the other one.

Designing a customer experience that promotes sales, retention, and referrals requires a thorough understanding of brand touchpoints.

Know your customers before they want you to stop knowing about them.

Build trust; don’t ask them to adjust.

Ninety percent of Americans consider customer service when selecting whether or not to do business with a company. Eighty-nine percent of customers say they are more inclined to make another purchase after having a good customer service experience.

Additionally, note that 70% of shoppers base their purchasing choices on brand trust.

Customers find you reputable and want to do business with you when they trust your company. Customers will be more vocal, loyal, and engaged due to this. This sets the tone for your company, and as consumers advocate for you, you’ll be able to attract additional customers who are willing to invest in your product.

Zero-party data – the real hero.

Understanding and experiencing your current customer’s journey firsthand is the first step towards changing consumer behavior.

Brands may acquire zero-party data – information that a consumer voluntarily provides a brand, such as purchase history, product preferences, size, and other relevant features – and then use that information to deliver tailored content such as product suggestions and special offers.

Perx was used by a top telecommunications company, to improve customer engagement. With Perx’s dynamic interactions, the telecom company achieved a 99 percent engagement rate in just 100 days after being live.

After slicing and dicing customers into the company’s audience personas, Perx began by investigating actions that customers had previously undertaken but went unreported. Next, we identified appropriate rewards based on customer data to incentivize these customers to repeat these actions. Then, using unique engagement mechanics, Perx merged several of these activities. Finally, on the Perx platform, all of this was wrapped in a gamified in-app experience layer that users interacted with.

Know your customers, so they say no to your competitors

Your most significant influencer is your customer. However, unlike endorsers and influencers, you cannot pay your way with the consumer. Instead, you must establish a connection with your consumer and get to know them. Take one step forward, and they will take two steps towards you.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

4 Ways to Leverage Customer Loyalty Rewards Programs During the Annual Post-Holiday Sales Slump

4 Ways to Leverage Customer Loyalty Rewards Programs During the Annual Post-Holiday Sales Slump

Grace Alexander

MarTech Blogger | January 19, 2022

The holidays are upon us, but the joy and excitement is dimmed a little for retailers, who know that after the high comes the low of the post-holiday sales slump.

While estimated holiday retail shopping by EOY 2021 is $1.147 trillion, it’s all too easy for brands to lose sight of the importance of customer experience once the holiday season has come and gone. Customer loyalty programs are perfect for boosting revenues in January and beyond, but you have to take the right approach and understand your customers psychologically.

Post-Holiday Spending Guilt Is Real – Exploit It!

Traditionally, retail spending takes a dive after Christmas sales as people see credit card bills coming due and promise to be more financially responsible. So they tighten their belts, resolve to save money, and feel good about purchasing through your loyalty program.

Some retailers may find it difficult to launch new campaigns in January. Once the holiday season is over, all of that large marketing money spent on attracting and maintaining clients to boost sales in November and December will be gone. So what will give you the best bang for your marketing buck? Focusing on your most loyal customers, of course.

4 Ways to Keep Customer Loyalty On Track in 2022

Stay connected with your customers

Use your customer loyalty program’s capabilities to keep customers engaged and active through carefully curated touchpoints and opportunities. Connect across different channels (in-app messaging, email) to keep the interest alive.

A study of 46,000 shoppers showed that customers who used 4+ channels spent 9% more in the store, on average, when compared to those who used just one channel. So by spreading your net wide, you can increase brand awareness and stickiness and customer retention during a time of year that typically sees a slowdown.

Support good spending habits

Use messaging that connects smart spending with saving — which customers can do if they are part of your loyalty rewards program! Around 95% of customers say trusting a company increases their loyalty, and 91% say their trust in a company makes them more likely to buy more frequently.

If your customers trust you and tell them you will help them spend smarter, they will believe you. So focus on messaging that reiterates how much they will save by staying active in your rewards program and keep this message consistent across all platforms and campaigns.

Tap into those New Year’s resolutions

If your brand supports common resolutions, leverage that in your customer rewards program by providing actions that customers can take that make them feel they are contributing towards that goal and rewards that also help support their mission. Consider after-Christmas holiday sales that focus on products that hit typical pain points, like health, fitness, and fiscal responsibility.

The failure rate for New Year’s resolutions is about 80%, and most lose their resolve by mid-February. Offering to help customers keep their resolutions can be a way to increase brand loyalty and participation in your rewards program. However, don’t stop there.

While you should make sure to congratulate your customers when they step up and do something good for themselves, if they quit, you don’t want them to feel judged. So make sure you tailor your program to prompt a feel-good reaction from customers even when they may fail at their New Year’s resolutions. Be ready to give them something else to focus on that prompts them to continue their journey with your brand.

Have a special rewards promotion in January

Spending spiked in January 2021 thanks to government stimulus checks in the United States, but typically January is a slow month for sales and a higher one for returns. However, you can find ways to leverage your best customers into coming back and spending more even during the holiday slump.

Odds are, customers using your loyalty rewards program racked up points with holiday spending. So offer to help them capitalize by providing extra perks like a free shipping coupon on purchases over $50 placed by January 31st.

How a Digital Loyalty Marketing Platform Can Help

How do you keep customers engaged with your brand in the post-Christmas sales slump? It’s crucial to prioritize customer experience through interaction even after the holidays are over. It’s never a bad time to work on your customer engagement methods, and while your competitors are slacking is a great opportunity.

The Perx Loyalty and Engagement Platform (LMP) makes it easier to maintain contact with customers after Christmas holiday sales are over by keeping the journey going through high-quality interactions and high-value rewards.

One of the newest features on Perx Platform is the ability to build and launch time-bound campaigns. So instead of simply having a 9-5 presence, your brand can precisely target consumers on a specific day, for a specific duration (or even during multiple time slots) on any given day of the week.

Find out when your most loyal customers are most eager to make a purchase and develop customized journeys for them that culminate in a reward that can be redeemed inside a tight window to create a sense of urgency and excitement. Target off-peak times, peak times, and any other time.

Using time-bound campaigns in January or any other time creates a lifestyle experience of engaging with your brand that can lead to even more trust and future engagement. Your customers are always “on”, and you too can be “on” and present for them with personalized micro-experiences that delight them and gamification that draws them in and keeps them constantly and consistently engaged.

Ready to start leveraging gamification and rewards to drive customer engagement in the months to come? Watch our video now to learn how Perx can help your brand barrel into the new year without missing a step.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

Want To Be A Super Brand? Be Super Nice To Your Customer

Want To Be A Super Brand?
Be Super Nice To Your Customer

Sundeep Keramalu

Director, Marketing Content | December 21, 2021

The red light green light game killed 255 players in Netflix’s Squid Games. Players in the first game didn’t know what they were getting into. They didn’t have a chance other than to play the first game. But before the second game could begin, the contestants had a chance to back out from playing any more games. Some took that chance to walk out, and some remained. Then something interesting happened.

The players who opted to stop playing saw that getting out of the game had changed nothing. They were back to their miserable lives. In contrast, the players who wanted to continue playing had a chance of getting out of their misery. But when the ‘I-want-to-stop’ players got a second chance to return, they did. 93% of players returned. They knew that death was certain if they didn’t win a certain game. Yet this was them making an informed decision.

When your audience is desperate, and you give them what they are desperate for, they come. They come not for the love of you; they come for the love of what you are offering. And if you provide it enough, you might get them to fall in love with you.

Customers love brands that love their customers.

There is nothing taboo in brand-customer love. It needs to be the right kind of love, though. Nothing crazy. Nothing weird. The wrong type of love will chase them away.

Let me give you an example.

The 90s Bollywood movies worshipped this plot. So, the male lead stalks and harasses the unsuspecting female lead. He then tells her that he loves her and cannot live without her. He also tells her that if she says no, he will jump off a tall building or cut his wrist or jump in front of a speeding bus and die. When the female lead tells him point-blank that she is not interested in him, he thinks she is playing hard to get. He tries harder. He begins to harass her in every unimaginable way until she decides to give in. She decides to give in not because he has persuaded her to give it a shot. She decides to give in because she doesn’t have a way out of all the harassment.

78% of millennials are willing to switch to a company that offers better loyalty programs. Only products may not be sufficient to maintain customer loyalty. Customer experience over products has a better chance of drawing customers. Amazon sells products. But what it sells over products is convenience. The convenience of having the product delivered to your doorstep. Hassle-free. That convenience is a reward in itself.

Some brands don’t know where to draw the line. Some brands see where the line is, but they don’t know how to stop themselves from crossing it. The line between what brands can do and cannot do is thinning. At the same time, that very line is broadening. A brand’s motive behind pursuing a customer defines whether a line is thin or broad.

The line is thin for a brand that wants to listen to its customer before it can make an attempt to be heard.

Customers love brands that love their customers. But you know what customers love even more? Customers love brands that try to understand what their customers love.

Brands spend millions of dollars on product research. But they don’t spend even a quarter of it researching what their customers love.

Privacy regulations are getting tighter than strings in an action movie. But editors get to remove the strings in post-production. Likewise, brands can remove the strings attached to privacy concerns. And today, customers are willing to let brands remove those strings. All they expect in return are transparency and better offerings. And, of course, a little something for their efforts.

That’s fair, though, right?

That’s the beauty of zero-party data. You don’t have to stalk your customers. You don’t have to worry about getting caught with your hand in the damned cookie jar. No guesswork from tons of behavioral analytics!

Zero-party data is milk from the cow’s teat. As pure as they come.

I know a friend who shops on an e-commerce website for protein supplements. It seems three out of five times he placed an order, he got vouchers for baby food and baby diapers. He is single and doesn’t have kids. He told me he has never browsed anything related to “baby” stuff on the app. He stopped placing orders on the app and switched to another e-commerce company. He tells me he is happier with the second company for his protein supplements needs. This is despite the fact that the second company does not offer as high discounts as the first one. The second company offers him scratch cards with gym wear discounts. Now that is a company that understands him better.

Brands have an obligation to understand customers. When they don’t know what customers want, customers feel obligated to look elsewhere.

Offering an app alone with random discounts to unrelated products is not enough. Offering the right kind of products and rewards around the customer’s lifestyle matters.

Zero-party data doesn’t cost zero. It costs a lot more, but a lot less than one can imagine.

To get closer to customers, brands must pay attention to what customers are closer to. You can do that as easily as ABC with super-apps.

Super-apps are not blind rage. They are a meaningful rage designed to engage customers at every stage.

Take a look at what one of our clients is doing. Siam Piwat, Thailand’s leading mall operator, is revolutionizing the shopping experience.

They were ahead of the curve in reinventing their retail business. They are now pivoting to new business models through strategic partnerships. Perx Loyalty and Engagement Platform (LMP) will help co-create the transformational ONESIAMP SuperApp.

The super-app will build communities around customer interests. This will create effective marketing campaigns, promotional activities, and loyalty programs.

Super-apps are super effective when it comes to delighting and exceeding customer expectations. It’s a way to give them what they want in the way they want so you can get what you want — better data. And as you already know, data is the new oil!

Take a look at Tencent’s WeChat. It started as an empathetic messaging service. Soon, it was the “app for everything.” You could chat, pay, book tickets, open up a store – it gave the consumer the power — to do, create, and empower. In 2018, it was the ‘world’s largest standalone app’ with 1 billion monthly active users (MAU).

Super-apps may not bring down customer acquisition cost (CAC) to zero, but they can lower CAC. With the ability to cross-sell and upsell, you can make out like a bandit in the long run.

Perx Loyalty and Engagement Platform is a brand that helps you harness zero-party data. It can help you strengthen your bond with your customers.

You can immerse users, exhilarate them, and amplify connections in the evolving universes. Give the right rewards to your customers with our integrated advanced gamification elements. Hyper-personalize rewards that match customers’ lifestyles with rewards and merchants management. In short, Perx enables you to transform customers into super fans!

Want To Be A Super Brand? Be Super Nice To Your Customer

It all boils down to offering rewards that matter to your customers. When you do that, you can drive customer actions that matter to your brand.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

The Road To A Brand’s Victory Is Paved With Small Wins For The Customer

The Road To A Brand’s Victory
Is Paved With Small Wins For The Customer

Sundeep Keramalu

Director, Marketing Content | December 16, 2021

You know I was thinking about what would be a wonderful approach to draft an article about gamification. I mean, isn’t it ironic? Gamification is the pinnacle of engaging someone in the way you want them to be involved in achieving a goal. And I am attempting to do so using a bunch of words. I will not deny it. This will be an arduous task. What say you? Allow me to open a fortune cookie and see what awaits me before I proceed. Let us see what my fortune cookie has to say.

Feed the ants in the anthill before you conquer Everest.

Yeah.

That was intense. Just the kind of motivation I needed. Thank you very much fortune cookie. I understand exactly what you mean!

If you want customer stickiness, you better not just have a glue gun, you got to own the whole damn glue factory!

Remember, you may have a fantastic product that offers excellent quality and unequaled convenience, and most importantly, a great value at a great price point. However, suppose you focus on all the fundamentals. In that case, you will ignore the “non-essentials,” such as customer engagement and retention, which, ironically, are the essentials that drive a brand’s growth and market share. It generates sales when you properly engage your customer. It boosts your brand’s visibility and loyalty. Above all, it helps with retention.

Existing customers are 60-70 percent likely to make a purchase. Unfortunately, the possibility of a sale with fresh prospects is only between 5% and 20%. As a result, customer retention and keeping your customers hooked are critical.

Nov 7-13 was #InternationalGamesWeek.

If you want a one-of-a-kind customer loyalty, you must give your customers a one-of-a-kind treatment.

When StarHub, a leading South-East Asian telecommunications company, wanted to cut through the competition in the post-pandemic market and make an impact on modern-day consumers, it went on a mission to build a unique one-of-a-kind digital rewards program for its customers.

To accomplish so, StarHub needed first to grasp the current trend, which saw a rising number of customers incorporating digital technology into their daily lives.

Second, StarHub is evolving from a telecom to a full-fledged digital life and digital services provider, offering customers the most rewarding connectivity, entertainment, and other lifestyle experiences, as well as innovative business solutions, all with seamless digital engagement at its core.

The Perx platform allows you to plan, customize and deploy campaigns on a whole new level.

Third, StarHub was aware that the telecom business had a high churn rate, despite telecom companies consistently offering attractive deals to entice new customers and retain existing customers. As a result, it was clear that it needed to address the significant issue of customer retention.

If you don’t want your brand’s growth to be static, you need to have a dynamic rewards program.

Once StarHub had finished understanding and analyzing their challenges, as well as having an unclouded vision of where they wanted to go, they partnered with Perx and established a dynamic rewards program, where customers could receive incentives digitally, seamlessly, and most importantly, instantly through the MyStarHub App.

When you transform a static customer-brand engagement strategy to a dynamic one, the journey of the end consumer is sprinkled with personalized rewards and gamified engagements that nudge actions along the way. As a result, making everything simple to absorb and digest for the end user is critical for customer adoption.

The Road To A Brand’s Victory Is Paved With Small Wins For The Customer Every Saturday from 9:00 a.m. to 3:00 p.m., customers could spin the Wheel of Treats for a chance to win at StarHub Snapping Saturday.

Consumers were divided into three membership tiers based on their minimum monthly spending:

Green (less than $200)

Gold (more than $200 for six months)

Platinum (more than $200 for six months)

Green members were given fewer chances to spin the Wheel of Treats, while gold and platinum members were given more chances.

What was the outcome of the treat wheel?

The Road To A Brand’s Victory Is Paved With Small Wins For The Customer
The customer received a star each time the treat wheel was spun. The stars were treats. With 20 stars, a customer could enjoy a pastry. If the customer liked pizza, he/she could collect a few stars and exchange them for a pizza.

If you want to shine like the brightest star, you need to make your customers feel like stars.

Perx made sure StarHub’s rewards were not solely based on instant gratification. In the reward configuration, Perx designed it so that StarHub could reward its customers on specific days and at specific times. The date-bound and time-bound rewarding mechanism included special days too such as birthdays, anniversaries, and festivals.

The gamified rewards were tailored to each customer segment’s lifestyle preferences.

Personalized rewards are a surefire way to win your customers’ hearts. For the first time, like your customers, your loyalty program (if it had a soul) would thank you for resurrecting it from being just a glorified bookkeeper of points to enabling it to actively engage with your customers. Customers are more likely to join your loyalty/rewards program and adopt your products or services if you offer incentives. For the customer, the more individualized the incentives are, the more appealing they are.

If you want customers to adopt your brand, you need to adapt to their lifestyle choices.

According to Epsilon research, personalization increased purchase intent by 80%.

Brands must keep in mind that the notion of rewarding customers should not appear to be a charity or feel impersonal. Instead, by understanding your customers’ requirements and lifestyle preferences, you can customize your rewards to fit their lifestyles, and that is when you have a winning formula.

In the customer engagement space a winning strategy is measured by customer adoption. StarHub’s previous customer acquisition goal was to onboard 10% of existing StarHub Singapore households into the New Rewards Loyalty Program within 30 days of introduction.

With Perx, StarHub had surpassed its goal by more than 100%, onboarding 20% of StarHub households in 30 days. This figure has climbed from 20% to 50% of all StarHub Households in Singapore in a few months.

Thanks to Perx’s unique mix of next-generation in-app customer experiences, dynamic incentive-led campaigns, and injecting the concept of gamification into every last-mile customer connection on the MyStarHub App, 4,465,889 rewards have been issued to customers at the time of writing this article.

Even though the fortune cookie I had at the beginning of the story was imaginary, the fortune cookie remains one of the most impressive innovations. It could have simply been a regular cookie. But here is a cookie that can tell you your fortune. It is not like you are going to sue the cookie if what the cookie predicts doesn’t come true. It is the intention that counts. The cookie gives you something to look forward to when you are going to eat it. Isn’t that delightful? See? That is all you need to focus on. You must provide something that your clients are not anticipating. This is the essence of gamification. It is not some esoteric jargon. It may be something simple, effective, and beneficial for both the customer and you, the brand.

Customers have the power to make or break a brand. Even if you are a brand that is made, you will still have your milestones to achieve to get to the next stage. Whether you are a new or established brand, we must not make the mistake of assuming that a consumer will continue to pay for our goods regardless of how we treat them – which is to say, by not treating them. There is, quite frankly, no better way to reward your customers in this era driven by instant gratification and smartphones than through gamification. To put it another way, give them something to do that fits their lifestyle choices, and they will gladly pay for your goods even if they had the option to go with your competition. They win, you score.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

How Retailers Can Win The Holiday Season By Truly Going Customer-First

Sean Foo

MarTech Blogger | December 06, 2021

As a retailer, the holiday season should be a cheery time of the year where stores would be packed and products flying off the shelves.

However, the current pandemic has changed customer behavior forever, rendering the time-tested marketing strategies of retailers to become increasingly obsolete.

How do you compete in an environment where margins are razor-thin and customers are notoriously fickle?

The solution lies in genuinely understanding what your customers desire, engaging them directly one-on-one, and influencing their decisions to drive what really matters — sales.

The First Step Is To Analyze Your Customer Data

How well do you really know your customers?

While many retailers can easily cite the customer demographics and the products or services that contribute the most revenue, knowing the exact preferences of your shoppers is essential.

Starbucks, for example, utilizes the data collected from their rewards program and mobile app to understand the purchasing habits of their millions of users. The rewards themselves, represent over 36% of US company-operated sales in 2017.

The data intelligence gathered allowed them to better personalize the Starbucks experience for their mobile app users, suggesting highly relevant products and new offerings that each customer might be uniquely interested in.

Through your point-of-sale (POS) system and loyalty programs, you can also start to build preferential data points around customers, segment them into distinct personas and let your customer engagement campaigns deliver a personalized treatment.

This allows you to recommend the right types of products they might be interested in instead of simply broadcasting a message that might reach everyone but pleases no one.

Engaging Your Customers Where They Are, Is A Must

When was the last time you made a conscious effort to go window shopping around a mall, hoping to spot the latest and most fantastic deals?

Sure, the Christmas trees on display in the mall might attract shoppers, but it is undeniable that retail store footfall has been steadily decreasing globally, and the pandemic has all but slowed it down to a trickle.

Online shopping & the digital floor space has taken over.

Most shoppers today live on their smartphones, and retailers will need to capitalize on this by engaging with them where they spend much of their attention.

Through targeted campaigns with highly personalized offers, brands will be able to actively engage their prospects to increase foot traffic to their physical stores or digital storefronts.

How Retailers Can Win The Holiday Season By Truly Going Customer-First

The Perx Loyalty and Engagement Platform allows retailers to target the right audience and hyper-personalize how your brand engages with your customer to influence the shopping cart naturally.

Imagine, your customer getting a digital scratch and win card just before Christmas that entitles him or her to claim their favorite drink from your cafe. The experience is unique, it is gamified and it is instantly gratifying.

It is how one retail chain in the Philippines managed to achieve a 700% increase in customer engagement on their loyalty program and how Thailand’s largest mall operator experienced a double-digit rise in footfall and revenue.

Solving Cart Abandonment Is Mission-Critical

Customers today enjoy an abundance of options; you are not the only retailer in town with a unique brand or quality products.

All too often, this leads to shopping cart abandonment that spikes to an all-time high, especially during the holiday season, where customers are being blasted with a continuous stream of offers and promotions.

How Retailers Can Win The Holiday Season By Truly Going Customer-First In fact, a 2019 research has found that the average shopping cart abandonment rate is an astounding 69.57%.

From a long checkout process to the allure of comparison shopping and the lack of additional last-minute discounts, many factors could suddenly spur a prospective customer to abandon their purchase.

While it is impossible to eliminate cart abandonment fully, you will have to go beyond just optimizing the checkout process and removing roadblocks to a swift conversion. The key is to engage your customers both on-site before they leave and off-site should they exit your checkout page.

By analyzing your customer data and engaging them during the checkout process, you will be able to trigger excitement and influence your prospect towards the sale.

A first-time customer at your checkout page? Let them spin the wheel to win an additional 10% off their first purchase.

A loyal customer about to checkout? Let them shake a virtual tree and reward them with a sweet discount on their next purchase in the same shopping session!

A prospect that left the shopping session prematurely? Engage them through your store’s app with a reminder tied with gamified rewarding experience.

By sprinkling dynamic engagements within a single shopping experience, you will increase your brand touchpoints in an authentic way that influences their decision to purchase by incentivizing it.

This will allow you to reduce your cart abandonment rate and upsize the shopping carts to drive even more revenue per customer and increase the share of wallet.

Fight Against Lowered Margins With Hyper-personalized Offers

As a retailer, you know the drill when it comes to holiday promotions.

1-for-1 deals, 30% off store-wide and flash sales are classic promotional strategies retailers use to drive revenue and stand out amidst the fierce competition.

Sure, these deep discounts are great for your customers but a nightmare to your margins! Furthermore, relying on the loss-leader strategy is not always sustainable and does not guarantee additional purchases once you grab your customers’ attention.

What is more powerful (and profitable) is to hyper-personalize your offers and engagements to the right audience at the right time.

Amazon, for example, uses its customer purchase history and buying behavior to recommend the right promotions and products that matter to the buyer instead of a blanket discount.

You can do the same, too, by leveraging your customer data and sending personalized offers just as the holiday season begins!

A terrific way to gamify and personalize such an experience is a 12-days of Christmas scratchable calendar that can be integrated with your customer loyalty programs.

This allows customers to wake up and anticipate a new ‘present,’ which could be a targeted promotional product or a gift that they love, throughout the Christmas period.

Instead of just slashing prices store-wide, retailers should aim to gamify and personalize their customers’ shopping experience to increase their brand touchpoints while preserving their margins naturally.

Place Your Customer & Their Experience First This Holiday Season

Discounts and promotions alone do not win the day; prioritizing your customer experience and their needs do.

By leveraging your customer data and crafting interactive experiences that blend well with their lifestyle, you will be able to create unique brand touchpoints that go beyond just mere suggestions and indeed influence their purchasing decisions.

Ready to transform the way you engage with your customers this holiday season?

Learn more about the Perx Loyalty and Engagement Platform and how we have helped brands elevate their customer engagement strategies, transforming them from just another brand into an influencer in their customers’ lives.

Get in touch for a tailored demo and discover how you can influence and drive customer actions today.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

Drive MAU Through Aha! Moments With Gamified Customer Touchpoints

Drive MAU through Aha! Moments with gamified customer touchpoints

Grace Alexander

MarTech Blogger | November 23, 2021

Building a strong MAU base is crucial to growing your brand. Your MAUs (Monthly Active User) are your most interactive customers, but if you are not providing them with continuing opportunities to engage, you could be missing chances to convert.

By creating a road map that anticipates and proactively encourages customer behaviors, brands can continually prompt engagement and keep the customer journey active, leading to more and repeated conversions.

What is Your MAU Ratio?

The effective reach of your brand is determined by the number of active users measured over time. Your daily active user (DAU) number counts how many unique users were active in the span of a single day.

Your monthly active user (MAU) number measures how many unique users were active at least one time within the one-month window.

The relationship between these two numbers — DAU divided by MAU — provides the MAU ratio. The higher the percentage, the more people your brand is reaching consistently (stickiness). A 20% ratio is an acceptable range for many industries. A brand like Facebook has a (self-reported) MAU ratio of 50%.

Each wow moment provides an opportunity to encourage a customer to perform a trigger event.

Monthly active users are important because they are consumers you can reach through lifestyle marketing. Think about Facebook. How many users get up, check Facebook, and maybe play a round or two of a game on the platform before work? Facebook has become part of their lifestyle.

From Wow to Aha! and Beyond

Customer journeys consist of multiple touchpoints. When a customer’s journey ends, so does their engagement with the brand. Brands must then work to restart a customer journey or create a new one.

By creating a road map that anticipates and proactively encourages customer behaviors, brands can continually prompt engagement and keep the customer journey active, leading to more and repeated conversions.

Gamification delivers instant gratification through hyper-personalized rewards through customized engagement mechanics that drive the customer journey from one micro-experience to the next.

Each touchpoint provides an opportunity for customer engagement and a wow moment. So, what is a “wow” moment? It is when you offer a pleasant surprise for your user and exceed their expectations, even in a small way.

In gamification, this can mean giving them a free powerup for the next game round or extra points just for logging in. For a bank, you might provide a stamp every time your user checks their balance. For a retailer, you could award points when they click to view the day’s deals.

Every Aha! moment reinforces your value to the customer and encourages them to keep engaging with your brand, performing actions that directly correspond to increased revenues.

Each wow moment provides an opportunity to encourage a customer to perform a trigger event. Maybe it’s just playing another game round. Perhaps it’s clicking to compare rates for their insurance coverage. It could even be agreeing to take a short, two-question survey that provides your business with beneficial data on consumer wants, needs, or behaviors.

Every trigger event provides the opportunity to wow the customer again. When they complete the desired action, they receive another reward or incentive. This could be a special offer, extra points that can be banked toward a tangible reward, or a discount code. Every action they perform and every reward they receive helps to establish the lifestyle ecosystem you are building.

When the customer is wowed repeatedly, they can experience an Aha! moment. This “Aha!” moment is when the customer realizes and understands the value of your product/service, and becomes both more loyal to your brand (and more likely to share it with or recommend it to others).

When nurturing customers through multiple micro-experiences leads to Aha! moments, brands never miss a chance to interact with customers and drive revenue-connected actions. Every Aha! moment reinforces your value to the customer and encourages them to keep engaging with your brand, performing actions that directly correspond to increased revenues.

CX + UX = Success

Customer experience (CX) is the journey, touchpoints, and milestones your customers progress through via engagement with your brand. User experience (UX) is how easy the environment your users interact within makes completing various actions.

Perx ties the two together, making every customer interaction with your brand easy, fun, and part of a larger plan to drive revenue. Gamification delivers instant gratification through hyper-personalized rewards through customized engagement mechanics that drive the customer journey from one micro-experience to the next.

By streamlining and aligning both CX and UX, you create a continual customer journey user experience that can do all of the following:

Acquire new customers, whether through referral or introductions to your gamification experience through a business app or an ad.
Activate these customers by incentivizing them to perform their first action, giving you the opportunity to wow them.
Retain your new customers by keeping them engaged with continued incentivized touchpoints and wow moments.
Drive revenues when your customer reaches an Aha! moment after continued rewards tied to desired behaviors.
Attract new customers thanks to the referrals your existing customers generate for your brand.

Gamifying each touchpoint on the customer journey allows you to keep customers engaged. When you track your customers and analyze their behaviors, you can identify important milestones at which your customer is ripe for a nudge.

Using push notifications via SMS or email when a customer has nearly achieved a milestone gives you the ideal opportunity to incentivize the desired action.

For example, an active customer with 8 stamps out of 10 can be provided with an opportunity to perform an action that wins them two stamps instead of just one, allowing you to wow the customer by boosting them to reach their goal, and guide them toward an Aha! Moment.

By unearthing deeper insights into customer behavior and creating additional customer-brand touchpoints, you can stay top-of-mind as you build your brand’s tribe and gamify critical journey milestones to increase campaign completion and engagement rates.

The cycle of action and reward can be repeated over and over. The customer becomes accustomed to participating in your gamification as part of the lifestyle environment. Continued interaction and revenue-driving actions increase their lifetime value (LTV) to your brand, and prepare them to be brand ambassadors, ready to act as an organic recruitment arm.

Perx Bridges the Gap One Micro Experience at a Time

Most rewards, loyalty and incentive programs are transient, meaning they do not have a strategy to maintain continuous engagement with the customer. They are also highly transactional, lacking a meaningful connection to the customer.

Your company needs to shift from these transient and transactional engagements to continuous and meaningful engagements. Making that change requires the ability to streamline the customer journey user experience and make each engagement personalized for the individual.

Perx makes it possible to string multi-action engagements into a seamless customer journey, combining specific customer actions with collaborative or competitive challenges to increase stickiness. As a result, each micro experience is a potential wow or Aha! moment.

By unearthing deeper insights into customer behavior and creating additional customer-brand touchpoints, you can stay top-of-mind as you build your brand’s tribe and gamify critical journey milestones to increase campaign completion and engagement rates.

The proof of what Perx can do to unify your customer experience strategy is undeniable. See what we have already done for our partners:

Leading telco: enjoyed 50% customer acquisition in 8 months and increased net new revenues by 100%.
Popular retail company: drove transactions worth $34M in the first 60 days after launching the campaign and acquired 225% unique customers.
Mobile-first bank: reached a 99.8 last-mile redemption rate, with 601K users engaged and 2.5M rewards redeemed.

Want your business to be predictably successful? Watch this short video of how Perx uses gamification to drive MAU and schedule a demo.

Recommended for you

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Blogs

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Discover Perx’s Maker-Checker Workflow | Streamline Operations & Ensure Compliance

Sustainability

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Unlocking Loyalty Success: Why Partnering with Experts is Key to Successful Loyalty Programs in 2024

Blogs

The Forgotten Customer: Still a Ticking Time Bomb?

The Forgotten Customer: Still a Ticking Time Bomb?

Blogs

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

How Gamification Hacks Cognitive Biases to Drive Customer Stickiness

Blogs

Global businesses have driven over 5 billion customer-brand interactions on Perx.

Ready to join them?

« First ‹ Prev 6 7 8910 Next ›