This post was created in partnership with Fetch
Key takeaways
- Loyalty is particularly crucial in a challenging economic environment.
- Brands and retailers should start considering loyalty from the first purchase.
- Data is core to the personalization and retention that fuel loyalty.
With a changing economy and varying customer loyalty, brands are working hard to grow sales from both current and new customers. Rewards can be an important ingredient.
During an ADWEEK House Miami Group Chat co-hosted with Fetch, a panel of industry leaders explored the customer journey, from trying different brands to moving into new life phases. Using granular data and creative thinking can turn loyalty from a program into a brand outcome.
Loyalty and personalization are shifting
Robin Wheeler, chief revenue officer at Fetch, kicked off the conversation by sharing how Fetch helps brands attract and retain customers. Consumers scan 11 million receipts daily on Fetch—about 88% of their monthly purchases. “We have a really unique view of the consumer that no one else can really match,” she shared. “We use that data to target them with the relevant offers that are going to drive outcomes for our partners.”
Consumers are trying new brands regularly, leading to opportunities but also shifting loyalties. “Seeing all those user purchases gives us confidence that you should start thinking about loyalty on that first customer touch point and then build out a more sophisticated strategy from there,” explained David Parisi, general manager of restaurants and retail at Fetch.
Customers know their worth, and that marketers should feel fortunate to have their business, added Jessica Serrano, CMO at DIG, a chain of locally farm-sourced restaurants. “We’re lucky for the occasions that they do want to spend with us, but we know that we’re amongst many in their rotation.”
Personalization is fundamental to building loyalty, but it’s evolving. “As consumers get more sophisticated, personalization is about knowing what I want, what I need, without over-trying to deliver,” said Maya Rubalcaba, marketing director of Ghost Tequila.
Brands often have multiple teams under the marketing fold, including acquisition, retention, customer care, and loyalty. But personalization works best when integrating loyalty, not making it a silo. Though difficult, it’s important to “bring it all together so the customer insight matches the reward, the actual engagement and the conversion, ultimately,” said Jessica Berger, SVP of innovation at Publicis Media.