The Loyalty Weekly Roundup is back from Spring Break! Here’s what you may have missed within the last two weeks.
Q&A: Barry Kirk, VP of Loyalty Strategy
Mar 14 2014 | Loyalty360
Barry was one of the featured speakers at the 7th Annual Loyalty Expo. In this Q&A session, Barry discusses key findings from the Maritz and Evolve24 “Social Intelligence” study. This research involved the data mining of social media interactions that referenced to brand loyalty. The results reveal that consumers associate brands with other interactions in life, which provides more reason for brands to embrace human-to-human conversation with their customers. READ FULL ARTICLE
Amazon Sees Backlash Among Prime Members
Mar 17 2014 | NBC News
Consumers tend to react negatively to changes in loyalty programs, even if members will receive a greater overall value from the new program. Amazon announced that the price of its Prime membership will increase from $79 to $99. According to a recent survey, Prime members are immediately reacting to the change, causing Amazon to lose its No. 1 ranking (of 16 years) to both Ebay and Overstock.com. READ FULL ARTICLE
… I cancelled my membership within minutes of receiving the notice. #sorrynotsorry
Why Doesn’t Apple Have A Real Loyalty Program?
Mar 10 2014 | Forbes
… They don’t need one!
Loyal Apple customers demonstrate what we like to call “cult” loyalty. Cult loyalty is the greatest form of customer loyalty because the brand is part of the customer’s identity. Apple provides a quality product and service. In economics, Apple products are an example of a Veblen good that is capable of producing a snob-effect. Customers demand the exclusive, high price and high quality products that Apple delivers. Apple already earns the loyalty and doesn’t need a program to do so. Read the comment section of this article. READ FULL ARTICLE
Twitter Goes To The Mall: Social Giant Will Use Big Data To See Where You Shop
Mar 11 2014 | Forbes
Both Twitter and retailers have the potential to take targeted advertising to a whole new level. Twitter has access to rich databases of the personal information tied to customer loyalty programs. Through promoted tweets, both companies will know who followed through on a purchase without the customer even realizing it. READ FULL ARTICLE
Serta Mattress Company to Launch Loyalty Program
Mar 12 2014 | COLLOQUY
Loyalty programs are tapping into the mattress industry. Serta VIP Rewards is designed to shorten the mattress replacement cycle and boost sales for both Serta and retailers. This will be interesting later down the road.
READ FULL ARTICLE
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