In the era of instant gratification, where consumers can check out in a single click, enjoy same same-day delivery and arrange dates with a swipe of the finger, brands need to do more to engender loyalty from fickle consumers.
These consumers are no longer confined to the limited selection that’s available at their neighborhood store. They can buy whatever they want, whenever they want it at a competitive price by shopping around the internet.
Therefore the digital age calls for loyalty programs that go beyond bonus points and air miles, and a philosophy rooted in building genuine, lasting relationships between brand and consumer. Programs that offer a genuine and tangible value exchange for consumer engagement, data and loyalty.
True loyalty is not merely a 5% discount or a free latte on your tenth visit. Of course these tactics will encourage repeat visitation, but there’s nothing to stop your competitors offering a 6% discount. Genuine loyalty is an outcome – a goal you can only achieve by truly knowing your customers and carefully nurturing every relationship you have.
Brands can achieve this through zero-party data.
It is quite simply data your customer has willingly shared with you, like purchase intentions and preferences to improve personalization and help build up a picture of who they are.
“Zero-party data is that which a customer intentionally and proactively shares with a brand. It can include purchase intentions, personal context, and how the individual wants the brand to recognize her.” Fatemeh Khatibloo, Principal Analyst, Forrester
Marketers boost loyalty and collect this preference data they need to do it by connecting directly with consumers and gathering the data, insights, and permissions they need to power personalized marketing.
Rather than inferring, they’re asking, and by offering a tangible value exchange, whether that be a promo code, exclusive content, product recommendation or loyalty points, consumers are willingly and intentionally sharing.
Zero-party data allows brands to build direct relationships with consumers, and in turn, better personalize their marketing efforts, services, offers and product recommendations. As it comes directly and willingly from the consumer there are no intermediaries, no guesswork.
At Wayin we have always been pioneers in building meaningful connections with consumers, where there is a true value exchange in return for engagement and data, establishing direct relationships that last the course of time.
Whether that be unlocking exclusive content, accessing sweepstakes, instant wins, social kudos or a promo code, it’s important for brands to value the direct engagement they get from consumers and to incentivize that behavior, at all stages of the customer lifecycle.
Wayin and Cheetah Digital’s combined forces bring together Wayin’s best-in-class Experience Platform with Cheetah Digital’s ‘Forrester Wave™ leading’ loyalty solution. The result being more mechanics and more expertise to reward consumer engagement, and empower brands to connect with consumers from acquisition through to loyalty.
In the Forrester Wave™: Loyalty Technology Platforms, Q2 2019 report, Cheetah Digital has been named a leader in the evaluation – the highest possible ranking in 13 criteria including data management, personalization, user-experience, privacy and security.
“Cheetah Digital delivers modern, marketer-friendly loyalty tools.” – Forrester
Cheetah Digital gives marketers a comprehensive, end-to-end customer engagement solution to acquire zero- and first-party data, unify it in a single customer view, and put it to work in real time to develop loyalty. Driving rich personalization across all channels, through accurate, relevant, and current data direct from customers.
“Customers are very satisfied with the platform’s current capabilities – especially its segmentation and member data management capabilities and Cheetah digital’s willingness to quickly and affordably add capabilities to the platform if needed.” – Forrester
Forrester Wave™: Loyalty Technology Platforms, Q2 2019
Download this complimentary Forrester Report to learn how Cheetah Digital is a loyalty leaderDOWNLOAD FREE REPORT