(image created by AI) An interesting study by the New Columbia Business School finds that…
There are many benefits to running a loyalty & experience program. Specifically for marketers that want to improve the quality and effect of their email campaigns, we summarize the 4 key benefits of having a loyalty program for your campaigns:
Email marketing produces an average ROI of € 40 for every € 1 spent on it. A VEMT Loyalty & Experience program boosts this with 52% extra. This effect is so incredibly strong because a program contributes both to the volume of your subscriber base as well as to delivering the data to segment and personalize your campaigns better so relevancy increases and your revenue from email campaigns grows significantly.
Members tend to be your most engaged audience, with subscribers at a good second place. Other than customer audiences that sometimes see your advertisement, these groups of customers are constantly reminded about your brand, service or stores through your email campaigns and rewards, so engagement with your activities is much higher and will continue to grow when you increase relevancy of your campaigns by personalization and segmentation in the VEMT Campaigns module and the VEMT Audience Builder. The impact varies strongly per sector, but usually exceeds a more than double engagement rate. Per Euro spent, this compares to almost 4 times the engagement rate of (social media) advertising. Not bad.
Omni-channel, centralized data
The fact that the VEMT Loyalty & Experience Programs are omni-channel by default allows you to discover many new customer insights. This enables you to identify patterns in the behavior of your customers and to adapt your email marketing strategy to them by adding more automations and better segmentation in the VEMT platform. Now you can manage your marketing team on an omni-channel basis and have your data centralized, rather than per channel, gaining extra benefits of scale and efficiency. Email campaigns can now better address all interactions, their channel preferences and email automations will respond to interactions in all channels.
Stronger growth and better customer recruitment
The VEMT CDP provides input about all online visitors, allowing you to respond with real-time offers relevant to them. As soon as you manage to capture one of their contact data (be it email, mobile or otherwise), you can follow up on those interactions with more messages, growing interest and increasing the chance on conversion by guiding visitors to the key stages in their customer journey. You will increase the chance to engage with your hottest prospects and will see your revenue grow quickly. A neat extra and very effective trick is to promise prospects rewards for past interactions 9which you have kept track of through our platform) when they convert to membership now. Retro-active membership: too seductive to ignore for most of your customers!
Achieving these benefits is not that hard, but it does require to run a loyalty program. Contact us to start.