Today’s marketer understands the need to combine the powerful efforts of both strategy and technology to offer a unique and engaging customer experience. “Customer relationships are now the only remaining source of competitive advantage, which makes earning customer loyalty mission-critical in the age of the customer.” This according to Forrester Research, Inc. in their latest report: The Forrester WaveTM Customer Loyalty Solutions for Large Organizations.
The report states, “data shows improving customer loyalty is likely to be a top marketing priority for 80% of decision-makers at large organizations in the next 12 months. As a result, they seek loyalty solutions that help companies identify and track customers, reward behavior, and drive deeper engagement and relationships.”
At Epsilon, we strive to balance technology applications along with strategic insights to create loyalty initiatives that drive success for our clients. We’ve seen brands adjust to the new paradigm Forrester outlines by creating experiences that enhance customer lifestyle and connect with customers emotionally to drive deeper engagement.
One brand that is accomplishing this is Walgreens through the Walgreens Balance Rewards for healthy choices® initiative. This initiative encourages members to “create a healthier lifestyle with better habits today while the Walgreens team cheers them on and provides rewards along the way.” Earning rewards for making healthy choices is a fulfilling experience for Balance® Rewards members. Members earn 250 points just for connecting their devices, like the FitBit, to their experiential Balance® Rewards membership – every minute of healthy behavior counts.
As experiences like this become paramount to driving customer loyalty what should you have on your radar when evaluating providers?
According to the report, “Effectively managing complex structured loyalty programs – including currencies, customer identification, offers and promotions – is table stakes for loyalty providers. But, loyalty goes beyond the program and we are seeing providers develop discreet customer experience and engagement competencies to complement their points and incentives capabilities.”
Want to read more, including why Epsilon was named as a Leader in The Forrester WaveTM Customer Loyalty Solutions for Large Organizations? Download the full report: