Bizcommunity features the second edition of the Truth Loyalty Whitepaper

The true extent of the value that companies can derive from data is still being explored. However, customer data that enables brands to target consumers on a more individual level gives those brands an immeasurable advantage through increased relevance and minimised risk. As a result, companies have started to move away from the traditional points-based loyalty model as the key indicator of a loyalty programme’s value.

Sonja Fourie, head of ABSA Rewards and VAS explains, “Loyalty in South Africa is following the global trend of moving away from pure rewards, earn-and-burn programmes to personal and personalised interactions that stretch further than just name personalisation in emails towards big-data analysis of individual consumer behaviours and needs and the subsequent addressing of those needs.”

Cromhout believes this is where brands can make a connection and a lasting impression with customers – by designing covert elements that are tailored according to the individual rather than overt elements such as a generalised birthday voucher that everyone gets. Truth advises clients to place the majority of their focus on the covert elements of their programme. “The data-fuelled marketing efforts that enable a company to offer cat lovers discounts on cat food and offer the cash-strapped student money off two-minute noodles – these should form a core part of a company’s value proposition,” says Cromhout

Read the full article here.