Articles Tagged with: Customer Loyalty

Customer Acquisition Starts With Data Acquisition

Customer acquisition starts with data acquisition

Using gamification and data analytics to hit acquisition targets

Grace Alexander

MarTech Blogger | April 26, 2022


Brands need to be data-driven to compete in today’s digital-first world. Are you leveraging your first-party data to acquire new customers, retain existing ones and increase customer lifetime value (CLTV)?

Customer loyalty and rewards programs can be powerful drivers of success, to the tune of a 2.5 time increase in revenue growth, per Harvard Business Review. But there’s a catch — loyalty programs can’t simply be the same cut-and-paste point systems used by so many companies. Instead, really sticky, effective retention and reward strategies should be backed by accurate, abundant, and accessible data about your consumer base.

First-party data is the master key

First-party data is your most valuable asset; it unlocks everything, from new customer acquisition to retention and beyond, decreasing costs, increasing ROI, and driving operational efficiency.

But where do you collect data in the amount and granularity necessary to have a real impact? The Harris Poll asked companies about their issues maximizing the customer experience. The top answer, shared by 25% of companies, was that their data pool was too shallow to boost processes. To avoid falling into this disappointed group, you can collect data from multiple touchpoints, including:

Existing customers providing data during the purchasing process

Every time a customer makes a purchase, they provide data. This data can include their name, address, mobile phone number, email, purchase history, and more. Data analytics can help you group similar customers based on their location, customer behavior such as purchasing preferences, and so on. Analyzing these groups can help you plan new offers and interactions.

  • Example: Create personalized approaches based on loyal customer attributes, and identify and qualify new leads using lookalike audiences as a starting point. Show products to customers as part of an “Other people who purchased this product also liked” listing as a way to drive more purchases and enhance their rewards.
Current or potential customers who sign up for programs

These customers may not have made a purchase yet, but may have signed up for a mailing list, a newsletter, or — yes — a customer rewards program. Rewards touchpoints don’t just use consumer data — they can also generate it. For example, according to MarketWatch, Starbucks noted that 40% of its transactions involved loyalty program customers. Of course, those customers share data with the coffee chain through their continued interactions, but the process is mutually beneficial, as they are also unlocking bonuses.

  • Example: Increase customer loyalty before they even make their first purchase! For instance, you can present a chance to play a free game and win a reward through a message texted to a mobile phone number or sent to an email address. Introducing customers to gamification and rewards from first contact is a great way to build relationships. Indeed, Starbucks cited immediate gratification for new members as a key feature of its program.
Customers of partners who have shared their data with you

Data partners (organizations who share their own consumer data with you based on business relationships) can also be a valuable source of first-party data and a way to expand your own datasets. The more data you have, the more effective data analytics processes spot patterns and builds highly targeted customer groups.

  • Example: Reduce customer acquisition cost by leveraging data from trusted partners. A bank might receive data from an insurance provider and can use that information to build tailored offerings that encourage opening a new account and joining a loyalty program.
Analyzing customer behavior delivers actionable insights

Customers’ behaviors deliver even more powerful insights than their raw persona data. For example, you don’t need to know a customer’s name to understand that a person is a big repeat spender or tends to buy every new product or service you launch.

Behavioral patterns based on consumer data deliver actionable insights you can use to boost your customer acquisition rates and strengthen your existing base. It would help if you had a constant flow of new data to build out datasets and make it easier to spot these patterns.

To see a real-world example of how these more data-rich interactions can revolutionize loyalty and drive CLTV, there is the case of the digital solutions company StarHub, which built a new interactive rewards program on the Perx Platform.

Take away impediments to interaction

Legacy customer loyalty program strategies may actually be keeping customers at arm’s length. StarHub envisioned a type of continuous interaction with customers, creating many more touchpoints that would keep the brand top of mind and encourage new, more profitable behavior. The key was to develop a rewards strategy that did away with the earn-points, burn-points loop common to so many loyalty programs.

Track customer behavior on a deep and personal level

Every rewards-based customer interaction is a chance to learn more about that person, and customer loyalty strategies allowing continuous engagement enable more of these touchpoints. For example, after StarHub rolled out a weekly, gamified reward program, powered by a new and simple in-app experience, user requests per second increased by four times, a huge increase in interactions that brought a tidal wave of data.

Focus on value-based last-mile engagements

As consumer data increases in volume, it’s possible to both notice overall patterns and deliver highly specialized experiences to individuals. The StarHub platform delivers instant gratification for customers in the present while also measuring every response to strengthen engagement in the future. The very positive experiences served to these customers improve offline engagement with the brand and in-the-moment online engagement.

Balance retention and acquisition with data-driven loyalty

While a rewards and loyalty program starts with the retention of existing customers, it can serve as a way to attract new clients, please them and turn them into loyal customers. Instant-gratification customer interactions that provide a valuable feedback loop of data don’t take long to solidify loyalty. StarHub’s telco business boosted retention by 6%, then increased new customer acquisition by 11%. Its Net Promoter score also rose across mobile, TV and broadband.

How perx uses gamification to drive customer acquisition

Perx technology empowers brands to act on customer insights, boost interactivity, and build highly configurable and personalized engagements quickly, for reduced time-to-market and a more delightful customer experience — all without compromising customer privacy or data security.

Most legacy loyalty programs are generic and bland, failing to connect with customers on a deeper level and missing the chance to build brand stickiness and loyalty. Personalized engagements that leverage known customer behavior data can bring authenticity to the process and encourage ongoing revenue-driving actions.

The Perx Loyalty and Engagement Platform (LMP) helps brands hit their customer acquisition targets through gamified engagements that instantly deliver gratifying, relevant, and personalized customer actions.

Are you ready to harness data acquisition to drive customer acquisition and elevate your average customer’s LTV? Ask for a free Perx demo today.

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

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Financial Brand Loyalty Marketing: It’s All About Gratification

Financial brand loyalty marketing: It’s all about gratification

Instant. Constant. Consistent. Paving the way for true top-line growth

Grace Alexander

MarTech Blogger | May 4, 2022


Loyalty marketing for financial brands can be a tricky thing. Banks are inherently distrusted by one set of consumers, typically younger generations who view them as self-serving and unsupportive of their goals. In contrast, fintechs are given the side-eye by older generations who value longevity and a track record over digitized, mobile-first interactions.

Both sets of consumers want a financial brand experience driven by transparency and a clear motive to gratify their needs and wants. Whether they are traditional banking institutions or budding fintechs just getting a foothold, brands that achieve this will be able to drive top-line growth and lasting, active, and engaged brand loyalty.

Properly done, financial brand loyalty marketing boosts earnings, increases sales, and enables long-term expansion. A well-planned and implemented loyalty and rewards program can assist you in retaining existing customers, attracting new customers, and growing revenues. This happens through last-mile engagements, which can rise by 12 times with a modern and tech-driven program.

Brand Stickiness vs. Brand Loyalty

Any brand that caters effectively to the needs of its customers enjoys some level of free customer stickiness and retention because switching brands — especially financial brands — can be a hassle.

However, most brands take this free element and don’t build on it to lasting advantage. For example, banks have incredibly high customer stickiness, but very few implement effective customer engagement marketing to transform that stickiness into true brand loyalty.

On the other hand, fintechs may be knocking it out of the park when it comes to customer engagement, but haven’t sufficiently aligned their messaging and brand loyalty marketing to lock in their more fickle customers and make them truly stick in the face of an ever-expanding market of options.

Instant Gratification in Your Bank Loyalty Program

Today’s banking customer expects and demands instant gratification at each touchpoint. You can leverage these opportunities by providing instant gratification, so that interacting with your financial brand becomes a normalized part of your customer’s lifestyle.

The rewards offered at these interactions should be flexible to provide customer choice and match each consumer with a personalized bonus. In addition, these instant rewards should be visible to other members of the person’s social circle, keeping the brand top of mind and providing a positive incentive to come back and earn more.

Account opening

Customers want instant access to benefits, from a ready-to-use ATM, debit, or credit card to loan application and line of credit options.

  • Potential reward: An instant large reward (a one-time reward for each account opened, the scale of which may vary based on the opening deposit amount.)
Account balance checks

Customers expect instant information without jumping through hoops to access their accounts and repeatedly prove who they are.

  • Potential reward: A token or bonus reward if over a certain balance (a recurring reward, given every day checked, the amount may vary based on target balance tiers.)
Account transactions

Customers desire the ability to complete a deposit, transfer, or bill payment instantly and receive real-time confirmations and notifications.

  • Potential reward: An instant reward given when a predetermined milestone is hit (a recurring reward, given every time a new milestone is achieved, the amount may vary based on milestone type and size.)
Set up direct deposit

Customers want to take advantage of time-saving benefits and receive their reward (typically a discount on bank fees or a cash bonus) right away without waiting for 30, 90 or 120 days.

  • Potential reward: An instant reward is given when a new direct deposit is set up (a one-time reward for each direct deposit, the size of which may vary based on the average deposit amount.)
Check or cash deposits

Customers demand instant availability of funds without waiting for them to clear. This includes funds from regularly scheduled, automated deposits that fall on weekends or holidays.

  • Potential reward: A token or bonus reward every time a deposit over a certain amount is made (a recurring reward, the amount may vary based on the amount of the deposit)
Referrals

Customers want immediate rewards for “helping their brand out” by referring other people who become customers as part of a customer loyalty scheme.

  • Potential reward: A large instant reward (a one-time reward for each successful referral, the amount may vary based on the type of account opened or amount of initial deposit.)

These interactions provide the ability to add touchpoints to an ongoing customer journey and provide instant gratification as part of a customer rewards and brand loyalty program.

Constant Gratification in Brand Loyalty Marketing

Don’t drop the ball. You have your customers’ attention, and the way to keep it is through constant, consistent reiteration.

The customer journey is ongoing

You can’t depend on “set and forget” vanity programs that simply count shares and likes. Every time you have the chance to reach out to a customer, whether it’s to congratulate them on hitting a new milestone or encouraging them to complete a journey leg, you need to take it.

The customer journey is unique.

Personalized experiences require constant monitoring, tracking and check-ins to drive additional opportunities for engagement, and data analysis to ensure you are providing ultimate rewards customers actually want to collect.

The customer experience should be fun!

Add gamification for an even more engaged customer base. You don’t have to build everything in-house to develop customer experience ecosystems with which your customers will love to interact.

Consistent Gratification in Customer Engagement Marketing

Banking customers are discerning and aware. Customer loyalty systems and rewards programs that aren’t consistent will soon be dismissed. It’s a big mistake to offer a 100-point incentive for an action one time, then offer half the incentive a few months later. Be consistent, and constantly improve and expand.

How Perx Drives Bank and Fintech Brand Loyalty Marketing Via Experiences

The Perx Loyalty and Engagement Platform (LMP) transforms how banks and fintechs engage with their customers, and helps you instantly, constantly and consistently provide gratification through personalized experiences and rewards.

With this platform, you can maintain customer engagement marketing as you scale, bringing in new business and retaining high-value customers while driving revenue-generating actions. It allows you to:

  • Prevent waste associated with legacy brand-building and marketing.
  • Make the customer journey frictionless, instantly gratifying and socially viral.
  • Provide rewarding experiences that drive real revenue and keep brands top of mind.
  • Create a seamless and gratifying online to offline customer experience.
  • Automate processes so loyalty processes can evolve with minimum time and labor.
  • Design programs that allow legacy organizations to compete with mobile-first and digital-first financial brands.

Your financial customers are waiting to be wowed by your commitment. Are you ready to take your brand loyalty marketing to the next level? Ask for our free demo today.

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

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Future-Proofing Customer Experience Personalization

Future-proofing customer experience personalization:

6 essential strategies for your rewards program

Amrith Ganesh

MarTech Blogger | April 29, 2022


Your customer data management process is critical to the success of your business. Without a customer data platform designed to support your digital marketing strategy, your rewards program will be ineffective at best.

What makes personalized customer experiences and engagement critical to achieving your business goals? According to one study, customers who are 90% engaged buy 90% more often and spend 60% more per transaction. Therefore, your data management and analysis processes are vital to creating highly customized customer journeys that drive continual engagement and revenues for your brand.

6 data-driven steps to a highly effective rewards program

Customer experience personalization is key to an effective, long-term digital marketing strategy. These six strategies are essential to building future-proofed, hyper-personalized customer experiences.

1. Consolidate your data

Data is frequently stored in separate ERP, MRP, CRM, marketing automation, web analytics, call center platforms, and other systems. As a result, most customer feedback analytics programs are inefficient since many of them waste a significant amount of data.

Using a centralized customer data platform can help you make sense of the data you’ve collected. Once your data is consolidated, cleaned, sorted, and segmented, you can leverage it to build the highly personalized experience journeys your customers crave.

Example: Perx has partnered with ONESIAM to help create a SuperApp. By bringing together more than 1,000 companies across various industries, opportunities are created to collate data into a clear picture of customers and their lifestyles.

This data can then be used to develop an overarching customer journey that is highly personalized and enhanced with gamification. Customer loyalty to any individual partner results in universal rewards (VIZ COIN) that can be converted and redeemed across any of the companies involved in the platform.

2. Dynamically engage customers and their evolving lifestyles

As conceptualized by Gartner, dynamic customer engagement is an alternative to reactive service. Companies using this method analyze customer data to turn every interaction into an opportunity to delight their customers and make them targeted, personalized offers. Such opportunities are plentiful because, as Gartner adds, only 9% of customers’ issues are resolved through self-service.

Organizations can invest in designing an elevated and seamless integration of offline and online experiences to offer meaningful and rewarding customer journeys that can continually adapt to future customers’ needs.

Perx’s partnership with ONESIAM supports a Universe of Extraordinary Experiences, and maximizes what customers gain from each spending by transforming existing Loyalty Programs into a value creation system.

The ONESIAM SuperApp can recognize patterns in user behavior thanks to AI-based technology. For example, the AI analyzes purchasing behaviors, predicts each customer’s next purchase, and curates a selection of products and services based on each user’s interests as part of hyper-personalized marketing.

Using data to engage consumers in this way dynamically drives the creation of campaigns that meet customer needs and enhance the integrated experience for robust customer engagement and retention.

3. Leverage data through gamification and customer loyalty programs

Develop a loyalty rewards program that offers hyper-personalized rewards that excite and engage users and create a shopping experience where purchases are made to elevate the quality of life and enhance potential.

Just as VIZ COINS in the ONESIAM SuperApp can be earned and spent with greater ease and excitement thanks to the gamified experience, individual brands can leverage the power of gamification to expand and improve their rewards program.

By reimagining how to engage and reward your most loyal customer, you can create future-proof fans of your brand who can also become brand ambassadors.

4. Personalize all engagement, but focus on digital-first

Build a digital-first framework that is designed to support ongoing customer experience journeys, not just one-off interactions.

McKinsey notes that “Today’s personalization leaders have found proven ways to drive 5-15% increases in revenue and 10-30% increases in marketing-spend efficiency — predominantly by deploying product recommendations and triggered communications within singular channels.”

Using data to create deeply personal, dynamic experiences for your customers will increase their trust for your brand and lead them to choose you again and again over other options put before them by your competitors.

Concentrating on digital channels helps make your messaging part of their daily lifestyle, until checking their progress in a game or what rewards they have unlocked becomes as natural and routine as getting dressed in the morning.

5. Exhibit digital empathy to leverage your customer’s emotions

Leading with compassion is critical to succeeding on digital. Cold and sterile offers won’t work; you have to connect emotionally with your audience.

According to Deloitte, 90% of customers find personalization appealing, and 4 out of 5 customers are more likely to purchase from a company that offers personalized experiences.

“The combination of convenience, customer understanding, and emotional engagement drives loyalty in customers and increases returns for organizations. Emotionally engaged, loyal customers not only spend twice as much as those who are not engaged, but 80% of them will recommend the brand to friends and family.”

When you connect with your customers on a basic level, they feel that you truly have taken the time to get to know them, and you can build on this customer relationship to drive actions and revenues.

6. Reap the benefits of hyper-personalization via gamification

With a solid customer data management strategy, you can focus on establishing a digital lifestyle ecosystem that drives business toward sustainability through the co-creation of shared value.

Maximize revenues through detailed product targeting and deployment of a robust and informed recommendation engine that can deliver individualized pricing and offers based on customer purchasing behaviors.

Lower customer acquisition costs by improving retention rates through increased brand stickiness and turning loyal customers into brand advocates. Additionally, reduce operational costs by implementing workflow automation streamlining customer interactions.

Elevate and future-proof customer experience personalization with in-moment customer journeys, 24/7, tailored customer service, and real-time customer segmentation. By delivering continual, consistent, and exciting customer experiences and rewards, you can build brand stickiness that won’t be beat.

Perx can provide the lifestyle marketing and customer data platform you need and the tools to build customer experiences and rewards programs that will stand the test of time.

Download the ONESIAM / Perx partnership case study to learn more about how you can improve customer engagement and elevate your loyalty program through gamification.

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

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Does Your Customer Loyalty Program Need Resuscitation

Does your customer loyalty program need resuscitation?

How to keep your brand loyalty initiative from gasping its last breath

Grace Alexander

MarTech Blogger | April 26, 2022


Brand loyalty may not be dead, but it’s barely clinging to life. Maintaining customer retention and growth is ultimately down to how well your brand manages hygiene when it comes to customer engagement. Being able to engineer the customer journey with seamless transitions from touchpoint to touchpoint combined with meaningful rewards and continual opportunities for further engagement is key.

Traditional loyalty programs are where customer relationships go to die

Many traditional customer loyalty programs in use today are glorified ledgers. They:

Serve as not much more than a records keeper

Customers have advanced beyond being satisfied with mere point-tracking systems. Adding points as they are earned and deducting them as they are spent or redeemed is like logging blood pressure without doing anything about whether it’s low or high.

Aren’t clear about the worth of points to the customer

Lack of transparency about how much points are worth and what they can be spent on or redeemed for is comparable to giving a patient in crisis instructions for care in Latin — it’s unhelpful, to say the least.

Bury rewards and benefits so they aren’t easily accessible

Programs that keep information about rewards and benefits hidden away in an obscure page on their website can be almost pointless. That’s like prescribing medicine but hiding the bottle.

Don’t drive constant customer engagement

Not focusing on constant, continual customer engagement is as helpful as telling a patient to eat light during annual festivities but not bothering to remind them to take their daily medication.

Don’t nudge or track customer actions aside from when a point is earned or spent

Customer loyalty programs that only become active when the customer initiates contact and then goes dead again are similar to a pacemaker that doesn’t kick in until someone turns blue.

Don’t provide additional ways to incentivize the customer

Suppose your loyalty program isn’t coming up with new ways to get your customer motivated about interacting. In that case, you may as well call the time and sign the certificate because the slow death of your relationship has arrived.

Don’t build additional loyalty

Customer loyalty is like a barometer of health. If you aren’t doing regular checkups and making it easy for them to see you on-demand, you might find their loyalty DOA.

Deliver poor results and poor ROI

Not tracking metrics and analyzing the results of your customer loyalty program compares to sending off their samples to the lab and never bothering to follow up. Who wants to wait around forever? By the time you check back, your customers will be gone, gone, gone.

Modern loyalty programs breathe new life into customer interactions

When appropriately designed and implemented well, customer loyalty programs can become the primary driver of your customer engagement, growth, and retention initiatives. A great customer loyalty program will:

Build a tribe of loyal customers

The constant attention and care you show will create a strong relationship between you and your customers — and they’ll reciprocate with word-of-mouth accolades, resulting in holistic referral marketing.

Continually set customers up for yet another touchpoint

When you do repeated follow-ups that provide gratification and brand value realization, customers become more likely than ever to be receptive to your recommendations and advice. It’s almost like going to a doctor that treats you like a family member.

Build highly active customer journeys

Making your customer’s journey feel more like one long-lasting interaction instead of isolated events is how you become a necessary part of their everyday lives. So make sure you’re delivering an ongoing experience studded with actions and rewards to engage them further and keep the brand/customer relationship in good health.

Present personalized experiences

A patient who realizes that their doctor never learns their name quickly finds a new provider. Making sure your customer loyalty program makes every member feel special with tailored experiences and customized rewards will encourage them to make and keep regular appointments with your brand.

Clearly present the “why” of belonging to your program

The customer only turns to an “urgent care” version of a loyalty program when they hope to get some fast help. That initial reward for signing up can be a much-needed shot in the arm, but don’t forget to hand out the brochures that explain your point worth, benefits, and rewards to drive repeated customer actions.

Engage customers on a level that impacts their lifestyle

Patients who aren’t invested in their health tend to eat better and walk around the block for a few days after a doctor visit, then give up. You need a program that sets a reminder to keep walking daily, suggests healthy recipes, and offers a free meditation suggestion they can access at bedtime every night.

Perx transforms customer loyalty programs into lifestyle augmenting tools

Are your customer relationships clutching their chests and gasping for air? You need help, stat. Don’t sit by and monitor the situation while it bleeds out on the floor. Instead, take steps to proactively address the bond between brand and customer and extend its lifespan for years to come.

The Perx Loyalty and Engagement Platform (LMP) changes how your customer loyalty program impacts customers. With Perx Platform, You can:

  • Power customer interactions with constant opportunities.
  • Increase customer retention by providing an ongoing journey.
  • Enhance customer engagement by tracking customers and leveraging extra opportunities.
  • Improve customer loyalty with highly personalized experiences.
  • Maximize referral marketing opportunities by turning customers into brand ambassadors.
  • Reduce your customer acquisition cost and maximize lifetime value (LTV).

It’s time to invest in a customer loyalty program with endless potential for personalization and the capability to develop endless customer journeys packed with actions, rewards and enjoyment. Perx helps you turn your brand loyalty system into lifestyle augmentation tools that keep customers active, engaged, and constantly watching for the next opportunity to play, win, save or be surprised with your next communication or offering.

Are you ready to do more than put a bandaid on your customer relationships? Request a free demo today.

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

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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.

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

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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 and 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 and 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.

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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.

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Feasting on a long-lasting connection with your customers

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.

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The Road To A Brand’s Victory

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.

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

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

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 CustomerEvery 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.

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

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

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

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-FirstIn 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.

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