Loyalty

Poor data utilisation impacts member value understanding and personalisation, raising the possibility of attrition due to inadequate interaction.

Personalisation is a key driver of member engagement and activity. Loss of identity or failure to build progressively richer member profiles hurts two fronts, first, in loss of opportunity of spending growth on disengaged members; second, in lack of returns on investments made in loyalty liability.

Customer loyalty has a significant impact on retailers and brands’ bottom lines – increasing customer retention rates by five per cent and increasing profits by 25 to 95 per cent, according to research by Bain & Company.

The biggest obstacle is winning over the organisation and gaining its acceptance and support.