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Page 80

LOYALTY

LOYALTY OF THE FUTURE –

TO BE INVOLVED IS MORE IMPORTANT THAN TO OWN

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t a time when virtually anything can be purchased, unique experiences and priceless moments are what really counts. It is them, and not the features of a given product or service, although these must be of the highest quality, that can set the brand apart from the competition. To build a leadership position you need an emotional bond with the customer and his loyalty. Only a lasting relationship, identification with the features the brand represents can increase the chances that the customer will be back for more. Keeping a loyal customer is also 6-7 times less expensive than getting a new one. The investment trend in loyalty programmes is evident both in retail trade and services, including banking. Studies show that 7 out of 10 adult Polish consumers use various types of loyalty programmes. On average, a single consumer is registered in almost 9 programmes at a time. According to the ARC “Monitor of Loyalty Programmes 2019", there are more than 100 consumer loyalty programmes in Poland. However, more than half of them do not meet customer expectations. Why? Because today it is not just about collecting points over the years in anticipation of a prize or discount. The consumer expects commitment, he expects his needs to be noticed and to be placed at the centre of the brand's activities. What should the loyalty programme be like these days? Above all, it must be priceless for the consumer. It

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must offer what cannot be bought, something which is worth waiting for. What could it be? For example, the Priceless Moments programme run by Mastercard rewards loyal consumers with the opportunity to pursue their passions. A ticket for a special concert with a backstage option to meet your favourite artist, a ticket to a film festival or a photo session with a selected brand. This opportunity to make dreams come true attracts customers and motivates them to be faithful to brands which offer them these opportunities. The loyalty programme of the future must be tailored to the needs of a specific consumer and put him in the focus, in line with the YOUniverse trend. The offer needs to be personalised and in line with the individual preferences of the programme participant. Research indicates that a loyalty programme which Polish consumers regard as personalised, makes them four times more satisfied than other programmes. “According to a Mastercard study, the vast majority of Polish consumers (66%) has their favourite passion, which makes them happy and allows them to develop, expand their knowledge and acquire new skills. That is why we offer Mastercard users benefits which stem directly from their interests and passions. These are often unique experiences, which remain out of reach for the rest of society,” says Marcin Klimkowicz, director of loyalty solutions and CRM at the Mastercard Europe Polish branch.

The programme must be simple and convenient to use, points should be collected during daily consumer activities. That is why it is convenient to use the bank card as a loyalty card. After all, you always carry it with you (if not inside your wallet, then virtually as a smartphone app) to pay for daily shopping. It is also important that you can always earn points and rewards - both online and offline. In a Mastercard and Harvard Business Review Analytic Services study, as much as 53% of company heads has indicated multichannelling and mobility as the basic success factors of loyalty programmes within the next five years. It is important not only in what way you collect points, but also how fast. One of the main reasons for customers leaving loyalty programmes is that they need to wait for gratification for too long. In the Priceless Moments multi-partner programme, the consumer can easily find a place to receive a large number of points for a transaction. Each cashless transaction carried out by one of 80 retail partners from 19 different retail categories, is rewarded. This significantly reduces the time the customer needs to wait to collect the first prize. This motivates the customer to set another goal and strive to achieve it. And in this way the goal of the programme is achieved: the customer involved in interaction with the brand based on emotion decides to stay with it for longer. •

Profile for Polish Market

Polish Market No.2-3 (293)/2020  

"Polish Market” is a prestigious English-language magazine published since 1996. In its pages, it promotes the Polish economy, businesses,...

Polish Market No.2-3 (293)/2020  

"Polish Market” is a prestigious English-language magazine published since 1996. In its pages, it promotes the Polish economy, businesses,...

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