REPORT FINDS CUSTOMER LOYALTY PROGRAMMES ARE VITAL FOR CUSTOMER RETENTION
Customer loyalty programmes are ‘vital’ for business to retain customers, with over half of the UK consciously buying less due to the cost-of-living crisis, according to a new report by Deployteq and the Data & Marketing Association (DMA).
Deployteq, a leading self-service marketing automation provide, polled over 2,000 consumers on their email habits as part of the Consumer Engagement Report 2023.
The data revealed that 52% are consciously buying less as a result of the cost-of-living crisis, a figure that rises among younger audiences.
Pauline Buil (pictured above), Marketing Director for Deployteq, said: “Retaining customers is the most cost-effective method for businesses and targeted customer loyalty programmes is an optimal way to keep customers happy, rather than having to fight to win new ones.
Customer loyalty remains a top priority for brands, and offering promotions and value schemes for existing customers as a ‘best friend’ brand can help futureproof during turbulent economic times.”
She added: “Retaining customers affords existing data from past purchases to act as a central source for tailored recommendations and promotions to maximise campaign output.
Data should be a central driver for brands and marketing teams, catering to customer desires to deliver greater customer experience, especially during a cost-of-living crisis where customer loyalty programmes are vital for businesses.”
To compensate for the cost-of-living crisis, 28 per cent are using email to hunt for discounts and promotional codes, relying on customer loyalty programmes to maintain their spending habits on a cheaper budget.
It was found that consumer trust played a prominent role in email usage, with 70 per cent using their primary email when signing up for promotions and services with organisations, with people subscribing to an average of 10 brands for email marketing.
Simon Ward, CEO of Inspired Thinking Group commented: “Data-driven or “Human & data-driven insights are crucial to both marketing and retail, helping direct the use of automated technology to create personalised campaigns at pace that truly engage customers and increase brand loyalty and business growth.
Deployteq represents a market-leading example of an optimised blend of data and tech, delivering high-impact results for leading brands.”
The news comes following Deployteq’s targeted expansion in the UK market to further strengthen its partnership base on the ground with major brands including Wickes, Virgin Media and Renault.
The report expands upon recent research conducted alongside the Data & Marketing Association (DMA).