Consumer loyalty is arguably one of the most important assets a brand can have. In today’s marketplace there is an abundance of options for shoppers when making purchasing decisions. Whether in store, or online there is no shortage of alternatives for not only products, and services; but also consumption channels. Creating a loyal consumer base or “Cult Consumers” is what separates successful brands from mediocre ones.
Creating repeat customers can be a struggle for many brands, but with the right strategy and a little incentive for consumers, brands can enter into a mutually beneficial, long term relationship with their purchasers. Loyalty programs and shopper incentives are one of the most tried-and-true methods of engaging with a brand’s audience, while also creating a base of loyal customers.
We opened our doors once again, to invite thought leaders on Shopper Marketing and Consumer Loyalty to share ways advertisers can optimize on loyalty programs and incentives. We welcomed a panel of 3 experts to share their experiences with Loyalty programs.
Ransom Hawley- Caddle Inc
After completing his business degree at the Ivey Business School at Western University, Ransom worked at SC Johnson in Sales and Marketing for 7 years. Ransom learned the inner-workings of CPG while working on some of Canada’s most iconic brands and retailers. Ransom saw an opportunity to develop a platform that improves the ability for brands to drive trial and derive consumer research real-time. Caddle was born in 2015 and works with clients like Nestlé, Pepsi, and Domino's. Caddle has yet to encounter a business problem they can't directly help solve!
Nizam Walji- webSaver
Retail and Promotions expert and entrepreneur focused of making shopping and saving easier for Canadians.
- Co-Founder, webSaver.ca, Leading Canadian coupon solution provider/publisher with 2MM registered shopper households. 100MM coupons issued.
- Co-Founder, SaleWhale.ca, a digital flyer solution for the Grocery, Mass and Drug store sector with 700K plus members.
- Former Managing Director of Canada's leading Coupon Clearinghouse (now Inmar).
Former General Manager of CPG Inc, a global rebate service firm with over $1.5B in managed programs
Davide Viola- Melitta
Davide Viola is currently the VP Marketing at Melitta North America. He is responsible for the brand in Canada and works collaboratively with the USA and global teams.
Davide began his career at Kraft Canada and has also worked at The Clorox Company and Maple Leaf Foods. He has launched new businesses that still thrive today and turned around numerous brands. Davide also spent 3 years at Loblaws managing the President Choice brand. He holds a business degree from Schulich School of Business and currently doing his Executive MBA at the Jack Welch Management Institute.
Davide believes discipline is the grease of performance to unlocking people, brand, and business growth.
According to Brandspark International, 9 out of 10 Canadians participate in at least one loyalty program. Using loyalty program tactics will prove to be effective if a brand keeps consistent with their incentives, and promotions as mentioned by Nizam Walji. Canadian shoppers in today’s marketplace are ‘discount driven’ and will base their buying behavior around the lowest price they remember; according to Nizam the average consumer remembers the lowest price they’ve seen on a product for about 2 years.
When it comes to rolling out loyalty programs in the luxury product space, the approach should be tactically different. Rather than focusing on price, and discounts, consumers of luxury products may be more interested in experiential incentives. Many brand’s in the luxury product space use experiential incentives to promote brand loyalty, while maintaining a high profile image of their brand.
Coupons are a great way to get to know your consumer. Shoppers are willing to provide personal data in exchange for a coupon or deal. It is best to keep the data points simple, and minimal – name, email, and postal code. There is no set guideline for deciding which coupon value to use, it is best to test out a variety, to learn what works best for the brand.
Getting to know your consumers
It is vital to get to know your consumer, to understand how, when, and where different demographics are buying. Coupons and loyalty programs facilitate this type of data collection, while also engaging shoppers with your brand. Targeting has become so customized that marketers are able to reach customers based on exactly what we know they want.
Our panel agreed that the most important thing to remember when offering coupons and loyalty programs is that consistency is most definitely key. Check out the entire Media 360 discussion in our live stream, and let us know what you think about shopper marketing, and what brands can do to create loyal consumers and repeat customers.
Media 360 : Shopper Marketing and Consumer Loyalty https://t.co/A97pfuX4Rw— Active International (@ActiveIntlCA) May 9, 2018