Brand announcements, M&A, Customer Experience, Loyalty technology, and more Blockchain than you can shake a stick at - plus a very good explainer graphic. Here's what we're following in today's Loyalty Newswire:
54 Per Cent Of Australian Brands Failing At Good Customer Experience
According to Closing the CX Gap: Customer Experience Trends Report 2019 by Acquia, two-thirds of those questioned could not recall when a brand exceeded expectations. This fact begs a few questions: 1) What does it take to create a customer experience that not only exceeds expectations but that is memorable as well? 2) Does this indicate that consumers have raised the bar on their expectations or has the bar remained steady but brands are failing?
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Customer loyalty stems from this shopper expectation
“Loyal shoppers only want to buy from online retailers they believe “have their back.” According to a new retail study from Radial and CFI Group, the central element of a superior retail experience is the feeling that the retailer is looking out for their best interests. It will be interesting to unpack what those “best interests” are and how they differ across segments. Further, as if to underscore the findings above, this study also found that 84% of respondents said their experience with a superior online retailer elevates their expectations for all other retailers’ performances. Consider the bar raised.
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OpenBrix introduces Europe's first loyalty program to renters and buyers
By now you’ve noticed that we’re following a lot more blockchain-related news and digging deeper into the players and the solutions they are providing. Aside from the technology itself, we’re fascinated by the variety and creativity of the specific solutions that we’re seeing. OpenBrix brings blockchain-based loyalty to home payments – a heretofore “unrewarded” experience.
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Resto Platform: Blockchain-Based Global Foodservice Loyalty Space
Restaurant loyalty has indeed moved beyond punchcards but does the mere fact of blockchain necessarily mean that restaurant loyalty has been revolutionized? Some headlines would have you believe so. On the other hand, Resto, while not necessarily revolutionary in its approach, seems to have designed an interesting set of solutions in that space. Of particular interest, check out the graphic 2/3 down the page for a very good explanation of how their tokens are distributed.
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Alibaba's Tmall Innovation Center uses data to help sellers develop products
A data-driven marketer’s dream. “In addition to having more than 600 million users shopping on its sites, Tmall also boasts a pool of geographical, on-demand delivery, and logistics analytics. Combined with data that sellers have on products purchased, the age of the customer, and information on the likes of cart abandonment - the information at the TMIC's disposal is enormous.” Tmall Innovation Center (TMIC) exists to develop new products in partnership with sellers to curate offerings that customers actually want.
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How To Create An AI (Artificial Intelligence) Startup
Virtually every loyalty tech provider we know of is investing in some form of AI right now. What follows is a series of short snippets that amount to some great advice if you’re thinking about developing an AI-based solution.
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Woolworths to sell fuel business for $1.7 billion
Of note not only due to the size of the transaction but for its smart structure as well. “The supermarket giant has entered into a 15-year commercial alliance with the global leader in fuel and convenience retailing. As part of the deal to sell its 540 fuel convenience sites, Woolworths will also commence a wholesale food supply agreement to the network. Woolworths’ four cent per litre fuel discount will continue and customers will continue to earn Woolworths Rewards points on fuel and merchandise.”
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JetBlue’s Inclusive Take On Loyalty
While American Airlines decided to make their program more restrictive (after chalking up a 7% growth in program revenue), JetBlue takes a completely contrary approach by making its loyalty and rewards systems more open and easily accessible, recently through the expansion of “points pooling” for all of its loyalty members.” It’s a tale of two cultures and corporate ethos and its interesting to see how the flying public is responding.
Mike Giambattista is Editor in Chief at The Wise Marketer and is a Certified Loyalty Marketing Professional (CLMP).
