What is the Monday Morning Coffee? Every Monday morning, our editorial team brings you 5 need-to-know news from its weekly readings, to read in less than 5 minutes.
What's on today's menu?
1. Make your shoppers unlock "next level" benefits !
What would be even better than personalized rewards and benefits to grow your shoppers' retention? "In gamification, reaching the “next level” not only earns the consumer the designated reward, but also unlocks the ability to earn rewards or benefits that are not yet available," says Payments Journal. Enjoy this video below on data from Mercator Advisory Group’s most recent report, How Payments Can Drive Better Loyalty and Rewards Programs.
2. How fashion firms rethink their approach to shopper retention
Speaking of retention, post-covid strategies mean new loyalty schemes for fashion brands. Based on Deloitte's "The Orthodoxies that Covid-19 Broke: Reimagining Customer Loyalty Strategy in a Post-Pandemic World", Drapers Online introduces different approaches to rewarding shoppers. One sentence truly won our heart : “It is about prestige and privilege – the way the brand makes the customer feel. If they are loyal and shopping often, what can the retailer do to make the shopper feel special?" Feeling Spaycial yet 😍 And what about this one : "By capturing data, loyalty programmes give retailers the chance to get to know their shoppers, and harness this information to encourage repeat purchases." Our business model says yes !
3. Don't mistake habit for loyalty
Even your most loyal customers shouldn't be taken for granted, tells us The Wise Marketer. When looking at the data from the 2022 Digital Consumer Trends Index, "67% of the shoppers who frequently buy from the same company yet say they’re not necessarily loyal to that company."
4. Give your knowledge management an omnichannel vision
If your traffic acquisition needs an omnichannel strategy, so does your handling of customer knowledge. "The only way to get ahead with the pace of change in today’s digital world is through a robust omnichannel strategy", writes CMSWire.
To deliver a proper experience to your shopper, you need to be where he or she is at the right time. To measure your omnichannel impact, we especially like this new KPI : customer effort score (CES) : the closer something is, the lower the effort in accessing it. "Success with omnichannel and digital proximity can be measured with this CES. Research suggests that CES is the top factor in customer loyalty."
5. How to meet the demands of the new hybrid shopper behaviour
Retention of shoppers is one thing. Finding new shoppers in the first place is another. This paid content study called "Find, engage and delight the hybrid shopper", shared by Adweek, tackles the latter."Shoppers expect shopping to be seamless blend of physical and digital, and if a brand can’t provide the experience they’re looking for, they’ll find it somewhere else." We invite you reading it as this is the key to understand shoppers' journeys.