MANILA -- A data-driven loyalty program can help companies retain customers when their rivals are offering the same incentives, an official of the Philippine Retailers Association said.
An effective loyalty program is one that is tailor-made for consumers, said PRA chairman and Picture City president Paul Santos in an interview with marketing mentor Josiah Go.
"Whether it’s a discount, a premium item, exclusive buying opportunities, or some other reward, it’s a retailer’s responsibility to do its research and implement the conclusions of the same," Santos said.
Point of sale or payment counters for example can help produce data that can be mined later, he said.
Retailers should also interact with consumers to make loyalty programs relevant.
"She (consumer) must be reminded – frequently, if possible – of how that adds value to her life. A retailer who strives to maintain these links will remain top of mind," he said.