Why Smart Data Is The Future Of Loyalty Programmes

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Source : www.cmo.com
Auteur : Martin Meyer-Gossner
Date de l'info : 26 janvier 2015

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If you love shopping, you probably participate in many loyalty programmes.

They connect you to brands and their promotions, and hopefully leverage your product or service affinity towards companies. Their strategy is similar. Companies and brands want to generate customer data in order to profile, cluster and identify customer behavior for a better customer experience.

Whether it is an airlines’ frequent traveler programme, some retailer’s points system or the good old stickers you find in your mailbox at home, loyalty programmes are there to remind you of brands, retain customer potential and reactivate sales, plus they detect the hunters and gatherers – in a smart manner. But how to leverage this smart data in the right context? How to find the appropriate approach to smart data usage for marketers?

No spam. No stalking. No stress. Companies that deliver added value in their pitches or promotions for up- or cross-selling will become the customers’ friend. And only those brands have understood how to convert big data into smart data.

Still, the difference between big data and smart data needs to be properly understood by marketers. Big data relates to frequency and quantity, smart data more to loyalty and quality. Frequency programmes are simple exchange programs that aim for discount-seekers who love to collect points for their shopping trips. Clever loyalty programmes ask for smart data throughout the whole customer journey to offer products and services which cannot easily be copied by the competition.

Not Just For Companies

If you think loyalty programmes are just for companies, you might be missing the point. In the future, countries too will leverage loyalty systems via smart data insights. The well-known programme by Loyalty New Zealand has recently changed the organisation’s view of its own loyalty programme. Where once the focus was on freebies, it is now heading towards meaningful and personalised insights. With the help of smart data the loyalty programme can give customers – and the government – insights to maintain their quality of life.

The Loyalty New Zealand system uses analysis in order to understand significant changes in society, in business and environmental changes. The aim is to be able to identify if and how people might end up on the street and become a financial challenge to the government. Thus, with the help of smart data, budgeting and forecasting can be planned earlier than previously and the country will not end up with unexpected surprises.

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