Score Points with Customers; Get Better Information
Posted on December 18, 2007 by Sarah Eaton.
I felt this book summary was of reinforcement than an innovative piece. The summary had a strong narrative approach with the beginning, middle, end and the trouble along the way. In working with the analytical side of electronic publishing, the approach to conducting a rewards Clubcard initiative aligned strongly with our practices at BeTuitive. A paramount practice at BeTuitive is creating value from the data we collect with our various B2B and B2C campaigns. The RFV analysis (observing customers buying patterns in Recency, Frequency and Value) is along the lines of our Business Intelligence analysis. Collecting large amounts of data, organizing it into valuable clusters and making informed strategic decisions is a marketing practice that worked well for Tesco. This summary reinforces the “mindreader” approach marketers and public relations specialists strive for in generating valuable results.
Scoring Points describes a successful marketing initiative based on loyalty using the Tesco Clubcard as a case study. Although this particular summary is very retail specific, it gives an in-depth look at the triumph of this Clubcard, how to launch such a plan and the data received from this initiative. Tesco recognized the needs of their customers and continue to expand this plan as buying needs change, such as their Internet grocery shopping and changing offers for their customers.
Scoring Points was an eye-opening summary for me. As a former retail associate, I am overly familiar with pitching the customer benefits of loyalty programs, but never before had I considered the magnitude of the program’s benefits on the side of the retailer. This summary follows the story of Tesco, the United Kingdom’s most successful grocery retailer, and their path to becoming the “undisputed leader” of Great Britain’s grocery chain. After introducing the Clubcard loyalty program, Tesco quickly benefited. To me, the most outstanding profit came in the form of analysis. The information gained from a loyalty program like Tesco’s is invaluable. For example, they were able to add over 7,000 local products by learning where shoppers preferred locally produced alternatives. Specific knowledge like this ultimately provided a win-win situation for Tesco. Customers were happy and Tesco was better off for it, always looking for new opportunities to expand and improve.
Even though the phrase “customer loyalty” is used in the subhead of this summary, it’s basically just about retailer discount cards. But even though it’s mostly geared to commodity-based retailers, it does have some concepts that could be valuable to any business. What I found most interesting was that loyalty programs make it possible to gather specific information about customers and give you the ability to mass-customize marketing communications, analyze buying behavior, customize offers and track overall trends. In fact, a loyalty program may not even increase “loyalty” per se. But by tracking customer data, loyalty programs can increase sales and streamline marketing. Electronic publications offer some of the same advantages. It’s always interesting when marketing does something different than what it seems like it’s meant to do. Sneaky marketing.
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December 18, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, Newsletter solution, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink
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Thanks for the great information. You have a really pleasant page here; I dig it.
After you capture leads from the web, did you know that your chances of connecting with them drops dramatically after the first hour? My company has this really that will actually deliver each fresh lead directly to a waiting phone rep. It's pretty amazing.
Posted by: Lisa | Feb 18, 2008 11:26:19 AM
this is good information, i will have to try out some of the tips and report back.
Posted by: Troy Bingham | May 13, 2008 5:28:52 PM
I learned a lot from this book as well. I highly recommend it
Posted by: andy vanakin | May 14, 2008 11:22:04 AM
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