Consumer Marketing Roundup: June 25, 2019
Survey: What Americans Think of Loyalty Programs
Let's start with a stat: Nearly two-thirds (64%) of Americans are currently subscribed to at least one loyalty program, according to this report from YouGov. Now here's a "non-stat" question: How many brands can you think of that don't have some kind of loyalty or rewards program? It's accepted wisdom that franchise brands, especially QSRs and others with daily or repeat customers, have such a program to reward their "frequent fliers." Sure, they're a great way to gather data on customers, to send them timely offers, and to keep them from competitors' doors. But what do customers really think about these programs? This report takes a look into answering that question and more. Among the topics the report delves into are: what people want from a loyalty program; industry variations in loyalty programs; the positive impacts of having a loyalty program; and how people claim points and rewards. The report is downloadable and free for the usual tradeoff of some personal information.
Report: 10 Key Questions Every CMO Should Be Asking Their Team
One thing about being a CMO today: the job changes so fast you can never get complacent, much less comfortable. So as good as you are, you can always get better. Customer engagement company Airship (formerly Urban Airship) has published a report with 10 critical questions they believe every CMO interested in staying ahead of the competition should be asking themselves and their team. To get you started, here are the first three from the report:
- Is our company at risk of disruption from competitors who are creating innovative customer experiences?
- Are the customer experiences we create across all our digital and physical touchpoints consistent with our brand promise and our mission?
- How cohesive is our customer experience -- from the customer's perspective -- across all touchpoints with our brand?
Surviving in a Sea of Emerging Technologies
This update from SmartBrief, "Emerging Technologies Find Their Place in Marketing: How marketers can survive in a sea of technology," takes a look at four up-and-coming technologies in the early stages of finding their way into a marketer's toolkit. Consider it a kind of CliffsNotes on the following technologies, which are here today - and will be more so tomorrow. Be prepared.
- Voice search - More than 20 million Americans already have a smart speaker (Amazon Echo, Google Home, etc.); their growing adoption will change the way consumers shop and connect with brands.
- Blockchain - Beyond the headlines of bitcoin and other cryptocurrencies, blockchain, the report says, "has big implications for increasing transparency, improving trust in ad buying... and can also make many automated processes more efficient."
- Artificial intelligence and machine learning - From the report: "[M]arketers are now drowning in data, with many organizations lacking the tools and structure to effectively analyze it. Enter AI and machine learning. These technologies offer the potential to process and act on customer data dynamically and in real time, with little human input."
- Augmented and virtual reality - Still early here, with emerging uses including immersive experiences for customers to sample products or the inside of a retail establishment, onboarding, and training employees. Obstacles include the cost of equipment, lack of expertise, and lack of a real demand for AR and VR beyond novelty.
The brief, 5-page report closes with four best practices for managing your tech strategy: 1) Be agile; 2) Find tools that integrate well; 3) Hire the right people; and 4) Coordinate internally.
5 Summer Reading Books for Restaurateurs
Peter Romeo, Editor at Large for Restaurant Business, has compiled a list of 5 books he recommends to restaurant operators that he describes as "pertinent to the business, as written by some of its storied successes. They provide a dash of entertainment and insight for operators who hope to make the summer of 2019 a standout season businesswise."
- Covert Cows and Chick-fil-A: How Faith, Cows, and Chicken Built an Iconic Brand by Steve Robinson
- Yes Is the Answer. What Is the Question? by Cameron Mitchell
- The MAD Entrepreneur by Phil Romano
- On Pills and Needles by Rick Van Warner
- Secrets to Ongoing Success by Bruce Reinstein
Find more from Romeo on each book here.
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