Image: Courtesy of TIBCO
We really enjoyed TIBCO Loyalty Lab’s recent presentation at ADMA’s Lunch and Learn. Brett Hannath, the Lab’s Director of Marketing, was talking about monetising on brand engagement through social interactions.
Here are a few takeaways from their most recent whitepaper called Success with Social Loyalty.
TIBCO thinks the opportunities for companies seeking to move their customers from mere buyers to loyalty program members and brand advocates have never been greater. The key is to engage in two-way communication with your customers. And there’s no better way than a social media way of doing it. However social isn’t a panacea, as campaigns don’t succeed every time. And it’s more about making sure you maintain a balanced approach to your channels. Here’s what TIBCO found:
Email delivers despite its unpopularity with Gen Y
- 85% of the online population still use e-mail as their primary communication mode
- 31% drop-off in the 12-17 demographic
- 34% drop-off in the 18-24 segment
Modes of Facebook ‘likes’
- Like the brand: limited approach, doesn’t engage in dialogue, provides very little information
- Like a program: potential for freshness, initiates a dialogue, accurately targets customers
- Like a product: enables multiple interactions
Twitter’s lack of loyalty
- Not the best choice as a focal point for social loyalty programs
- Good at amplifying a message and delivering it to a larger audience
- Potential viral capabilities
Innovation, interaction and integration
- Consider adopting the concept of points for behaviour, used to influence shoppers while they are in the store.
- Create social mechanisms enabling friends to enhance their own relationships while increasing the visibility of the brand.
- Integrate in-store and online engagement to deliver tangible results.
TIBCO says that whichever strategy you choose it’s really important to analyse and carefully measure whether a benefit-cost ratio is wise. Marketing practitioners may also get a better grip on measuring and optimising digital marketing tactics by attending ADMA’s Digital Analytics course.
In the meantime, here’s how TIBCO Loyalty Lab helps businesses build lasting and profitable relationships with their customers:
