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Why loyalty plans work: what brands should know and what they should p

mybb@mybb.ru (sifatahmed) — Sun, 26 Dec 2021 10:10:08 +0300

Loyalty plans are one of the tools that brands use on a recurring basis to position themselves in the market. In fact, in difficult periods, it is like a shortcut to improve things. You just have to think about how both McDonald's and Burger King have ended up launching loyalty plans for their consumers in multiple markets at a time when the consumption of so-called fast-food is being called into question.

But what should loyalty programs take into account? What is it that leads to a really good return?

A study, published in the Harvard Business Review , has focused on the two-year history of purchases of 10,000 buyers from a US retail chain to determine how loyalty programs work and what they activate in consumption patterns. Do they work to build customer loyalty? Or do they hinder the return of those consumers who were already going to buy a lot, giving them rewards for a consumption pattern that they were already going to have?

The conclusions of the study allow us to extract certain trends related to the consumption of Best database providers and loyalty patterns created by loyalty programs. The first is that for certain consumers these programs do not change much how they shop. They sign up, collect discounts and seem at first to be responding to the loyalty program, but when push comes to shove they don't buy more frequently than they did before. Their relationship with the company is similar to what they had before.

On the other hand, and second conclusion, there is a group of consumers who change their consumption patterns after entering the loyalty program. They are those who buy more. Even here things are not exactly homogeneous. The study points out two variants of delivered consumers.

The subgroups that it does work with
Thus, they identify two groups. The first is what the consolidators have called. Once they enter the loyalty program, their purchases go up. In the study, they theorize that the program has managed to convince them to change their purchasing patterns: they are buying with the retailer things that they used to buy elsewhere.

The second group is that of upgraders. These consumers do not buy more often or more products, but they do change the type of spending they make. Once they enter the program and have access to discounts / incentives, they start to get more expensive products. They buy the same, but in premium versions.

The existence of these two large groups, the last with two subgroups, is key to understanding when a return on investment occurs. The loyalty program is only really profitable, they point out in the study, with this second niche of consumers, both with one and another segment. With them, sales go up, either because they buy more or because they buy more expensive. It is to them that marketers must appeal.

These are, therefore, the consumers on whom the analysis of consumption patterns should focus and on whom it is necessary to appeal with the messages and with the actions to promote the loyalty plan.

The key points to increase the pull
Marketers must take this reality into account when designing their loyalty plans and the Buy Mobile Database strategy linked to them.

Thus, those responsible for the study point out that companies should not focus on the consumers who spend the most with their loyalty plans, but on those who are more receptive to the idea of competition. These are the ones that show the highest ROI and with which they work best.

This leads to changing how success is measured and what metrics are used as the starting material. You do not have to stay with absolute spending data, but go to the details.

What are the social media trends 2022

mybb@mybb.ru (sifatahmed) — Sun, 26 Dec 2021 09:13:56 +0300

Although a priori it seems very distant, until very recently, brands were betting on the great influencers to reach new potential customers. However, this trend is changing.

Social networks have brought us in recent years a new profession: content creators . According to a report published by SignalFire, "more than 50 million people around the world consider themselves creators." These people have a smaller community than the big influencers, but very well defined in terms of tastes, interests or ways of seeing life.

Throughout this year, social networks have been launching different functions so that these content creators can monetize their work . In this way, any person or brand can support them. And that is precisely the path set by trends in social networks in 2022.

Businesses should support the work of content creators to grow their own community. Obviously, it's not about collaborating with just any content creator. They should first do a preliminary study of those whose community is most similar to their target audience.

This will be much easier than starting to build a community of followers from scratch , especially for small and medium-sized businesses. In addition, it will allow a greater knowledge of your potential clients and "create brand awareness and affinity."

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Advertise that doesn't look like advertising
Advertising on social media is changing. This is the lesson that the Hootsuite report leaves us on the trends in social networks for 2022.

Companies continue to bet on traditional platforms, such as Facebook and Instagram, but they are beginning to increase investment in others such as TikTok .

This type of younger platforms are in full growth and entrepreneurs find it difficult to invest their money in something that they really do not know if they work or how they do it. However, it is already beginning to be seen that its scope can be greater and more effective.

But social media advertising trends for 2022 go beyond which platforms more or less money is invested in. Also the way in which advertising is offered to users continues to evolve.

It may interest you: What is local SEO and why is it important for your business
Users want to see advertising that does not look like advertising. What does this mean? We are all a little tired of the hype from brands. Those brands and companies that are creative enough to advertise without making it look like it have a lot to win .

Another important issue is that differentiated ads should be made for each social network . The audience of each of the social platforms has different characteristics and must be taken into account to know what message to launch on each of them.

Obviously this will be an effort for the marketing departments, since they will have to change the way they work and their mentality, but the results will end up being satisfactory.

More confidence in the ROI of social networks
The ROI (or return on investment) of social media is something that business owners did not have much confidence in. However, the trend is changing.

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COVID-19 forced us to increase our presence on social networks serving customers, selling through them ... This, added to the improvement in terms of statistics offered by social networks or their planning tools is concerned, has caused the data that they offer us to be taken into account and more trusted .

This is essential for the strategy in social networks since this data provides us with a greater amount of information about our clients and how they interact with our content. We can complement it with the so-called listening on social networks , which will provide us with greater knowledge about what is said about us and will help to mark a more defined strategy to find new customers and retain those we already have.

In addition, knowing your audience will also help you get more out of Last Database sponsored posts or ad campaigns on social networks . Thanks to all this information you will be able to better define the type of audience to which you should direct them.

Social media as a showcase
It is nothing new to say that social networks are the perfect showcase for those who are dedicated to selling products. Nor is it to say that the coronavirus contributed to the growth of this trend. There were many SME owners who had to lower the blinds of their businesses and launch themselves on the internet and social networks as the only means to continue obtaining sales.

It may interest you: What are the keys to being a good community manager?
Now, social networks are much more than a place to buy. In fact, it is not so much that you have the option to sell on these platforms active but that you offer your potential customers all the necessary information about your store and the products you offer.

Thus, another of the social media trends for 2022 will be to continue being a showcase for brands . But we must go step by step. The first thing you will have to d

Tracing Mobile Phone Numbers - How to Trace a Mobile Phone Number

mybb@mybb.ru (sonia) — Tue, 14 Sep 2021 08:41:32 +0300

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mybb@mybb.ru (sonia) — Mon, 13 Sep 2021 12:55:13 +0300

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mybb@mybb.ru (sonia) — Mon, 13 Sep 2021 11:31:58 +0300

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