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Loyalty usage still on the rise standard

If you were wondering where South African consumers stand with loyalty programmes, rest assured that the number of people signing up for loyalty programmes has continued to increase since 2015. The weak rand together with the political instability of the country has lead consumers to be very thrifty with their money and selective about where they choose to spend. We have seen demand for loyalty grow, with 8% more customers using loyalty programmes in 2017. This emphasizes the need for companies to evolve and differentiate their loyalty offering to retain their existing customer base. 2017 Loyalty Trends In the 2017 edition of our Truth Loyalty Whitepaper, we explored the expansion of loyalty programmes, both internationally and within the South African ...

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Disruption in the traditional loyalty industry standard

The loyalty landscape is constantly changing. Recently, we have seen two great examples of huge changes in the loyalty industry happening at both a global and local level. The first example comes from the airline industry. The airline industry is considered the birth place of the modern day loyalty programme. American Airline’s AAdvantage is the oldest surviving frequent flyer programme, launched in 1981. Loyalty in the airline space grew from strength to strength as companies also pioneered what we call the coalition programme. Coalition programmes incorporate multiple earn and burn partners across an array of different industries, as opposed to closed loop programmes, which only allow customers to earn and burn points/vouchers at one brand. This model became extremely important ...

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Truth’s whitepaper: The true value of unspent loyalty points standard

The financial services industry, specifically the big four banks, have offered loyalty programmes for a number of years and in doing so have acquired important customer transactional data. Loyalty strategies, in the banking industry, were initially designed for rewards to be linked to spend on credit and debit cards. This was mainly to help position the banks in the market and be first in the customers’ wallet, from a spend point of view. The competitive nature of the banking world has led to banks starting to use loyalty programmes as a key differentiator in delivering a competitive advantage and in some cases even provided a life-line during these difficult times. Firms have begun to realise that true value for the customer lies ...

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Simon Susman (former Woolworths CEO) discusses the power of data standard

In an interview with Bruce Whitfield on Cape Talk Simon Susman, the former Woolworths CEO, discusses in this podcast how Woolworths has began to see the value in customer data. “Woolworths has, over the past couple of years truly moved to be a customer led organisation. This meant we have driven better trading results through customer analytics-led marketing.” To listen to the clip, click below:

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Truth Loyalty Trends Workshop – 26 April 2017 standard

Truth’s Customer Academy brings you: The latest loyalty trends in South Africa During this loyalty seminar, we will focus on the latest loyalty trends locally and globally. It is designed to benefit professionals from all areas of the marketing and loyalty industry. If you’re a CRM/Loyalty Manager, Agency Strategist or Account Manager, Loyalty Provider or General Marketing Professional, then this workshop is designed for you. We’ll talk through the key takeaways of the current state of customer loyalty behaviour in South Africa and discuss the following topics: How the loyalty landscape has evolved over the past few years What the current state of the customer loyalty landscape looks like in South Africa Top trends in loyalty locally and globally Factors influencing ...

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Personalisation vs. Customisation standard

Let’s get personal: Customisation vs. Personalisation “Customers will start to get used to whether you know them or not and filter through their inbox to pick and trust only the brands which they know…..know them very well.” The definition of what personalisation really means seems to be interpreted differently across brands and is defined by the channels they use. Some brands think they know what it means to offer a truly relevant and personalised experience to their customers but get it so utterly wrong. Whilst some brands, such as Yuppiechef and the way they execute their entire gift registry experience, deliver personalisation to the T. Our interpretation of personalisation refers to: “The ability to tailor a service or a product to accommodate specific individuals’ ...

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Truth’s Whitepaper: Consumer Loyalty Behaviour in South Africa standard

Truth is proud to announce the launch of our second whitepaper: Consumer Loyalty Behaviour in South Africa. Loyalty programme usage continues to grow year-on-year with the largest growth seen in respondents under the age of 25 which show a growth of 13%. This indicates that loyalty programme usage in the younger segment is increasing at double the average growth across all ages – with 60% of all consumers under the age of 25 using loyalty programmes in 2016. After the success of the first white paper, Truth has once again partnered with WhyFive, one of South Africa’s leading data-driven consumer insights companies, to release a second Loyalty Whitepaper. Results from WhyFive’s BrandMapp 2016 survey, together with Truth’s loyalty experience, were used to drive insights about the current state of ...

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The face of loyalty is changing standard

The face of loyalty is changing. Companies are beginning to veer away from points and even cashback as the key indicators of a loyalty programme’s value. The observed shift is towards personalisation, not as a by-product of loyalty programme data, but as the core value offering at the heart of loyalty. It has long been known that the customer data obtained from running a successful loyalty programme could be used to target consumers on a more individual level thus insuring increased brand relevance and minimising the risk of generalised campaigns based on limited data and guess work. However, in this day and age personalisation is not a “nice to have” but rather a necessity. According to Bond Brand Loyalty 78% ...

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Defining a successful loyalty programme standard

Defining a successful loyalty programme depends on your specific business objectives. Our job is to help brands define a successful loyalty programme for their business requirements. Different loyalty programmes drive different outcomes and this means you need to quantify what success means to your brand before being able to accurately call your loyalty programme a success or failure. ROI (Return on investment) is the over-arching metric which almost seems too obvious to state, but in a study by Accenture, only 19% of retailers cited ROI as a metric to determine loyalty programme success. ROI on a base level is simple: your loyalty programme is successful if it brings in more money than it cost to set up and run. Our ...

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