Using customer loyalty data to succeed in a cookie-less world
Insights from Joseph Taylor, CLMP™, Epsilon’s SVP of Strategic Consulting and Operations in the UK.
The Wise Marketer has been steadily tracking the ongoing, sometimes chaotic, discussion about privacy, transparency, compliancy, and the demise of cookies. Throughout these conversations we have been consistently reminded about the power of data that comes from a loyalty marketing program. We wanted to know more about using customer loyalty data to succeed in a cookie-less world.
We recently engaged a dialogue with Joseph Taylor, Epsilon’s SVP of Strategic Consulting and Operations in the UK on these important topics. A longtime Certified Loyalty Marketing Professional™ (CLMP) at The Loyalty Academy, Joseph offered Wise Marketer two parallel insights to frame the discussion. We share these thought leadership concepts with you to help you inform your own strategy for managing customer loyalty data.
In the first insight, Taylor describes how loyalty program data can close the customer information gap in a cookie-less world.
“Loyalty programs are typically rich in zero-party and first-party data about known and identified members. That data has of course been collected under privacy-compliant terms and conditions. However, most of these loyalty programs limit their member engagement to the traditional email and mobile channels, missing out the opportunity to extend into paid and shared media channels. Selectively re-engaging with their most valued churned members via media channels using the program members' data can help marketers recover some of their lost revenue.”
Taylor’s full blog post on the subject can be found here, including his podcast with Wise Marketer partner Let’s Talk Loyalty.
Taylor’s second insight focuses on the integration of loyalty program data with specific media channels and explains how such an approach can improve the results of customer acquisition efforts. He describes how the acquisition use case is best executed by finding people who look like your best customers. He also illustrates how to re-engage departed members via the media channel - the "reactivation use case". Taylor suggests a monetisation use case where access to loyalty member data can be used by a partner in a privacy-compliant manner using technologies like a cleanroom.
“Similarly, targeting prospects via media channels using the best program members' data enables marketers to acquire new members in an effective and efficient manner. Furthermore, there is even a bigger opportunity to monetise such data especially for brands who have significant volumes of engagement and interaction data.”
Taylor’s second blog post covering the acquisition objective can be accessed here.
Epsilon, a global leader in data-driven and loyalty marketing in the digital world, offers substantial expertise in the power of loyalty program data. Epsilon believes strongly in offering their associates training and certification opportunities to improve skills and generate innovative approaches for their clients. At this moment, Epsilon has more CLMPs than any other company in the world.