In this edition of TheCustomer QT (Quick-Take): At least two good reasons to pay attention to your loyalty program, technology at the expense of loyalty, attempting a national data policy, and more really smart business.
Happy skimming.
LOYALTY
Loyalty Rewards Drive Spending For Large QSRs
Quick-Take: The report found that almost one in three restaurant customers are motivated to spend more when they can order through a mobile app. Additionally, the report found, placing orders digitally increases monthly spending on food orders 54 percent over orders placed by phone call, $190 versus $123.
ABM
Should you go all-in on ABM?
Quick-Take: Scott Vaughan, Chief Growth Officer at Integrate, explains that it’s important to focus on the buyer’s buying process, not the seller’s selling process.
TECHNOLOGY
The CRM Systems Training Issue
Quick-Take: All of this leads me to conclude that there’s already so much tech available that it becomes difficult to see the white space. Most importantly though, is the reality I’ve documented in my research that users aren’t close to maximizing what they already have, in part because they often don’t know about all of their current capabilities.
Click & Collect: Savior of Customers or Killer of Brand Loyalty?
Quick-Take: Even for eCommerce brands, retaining BOPIS customers is a real challenge, as they no longer base their purchase decision on brand love, but rather on the geographical convenience of the pickup points.
Building Loyalty via Meaningful Online CX
Quick-Take: Frederic Fekkai can collect 125 data points just from a picture of hair, which are then enhanced with simple questions such as “What color is it?” and “Is it bleached?” The software also pinpoints the location of the shoppers’ IP address and explains how local factors like air pollution, water pH and heat affects their hair. Adjustments to the algorithm can help the shopper further fine-tune the results.
POLICY
U.S. Companies Eager to Increase International Presence
Quick-Take: An overwhelming majority of respondents (81%) believe their organization’s profitability would increase if the U.S. were to move away from some of the protectionist trade policies of recent years.
CX
COVID-19 drives demand for better customer experience
Quick-Take: Despite a large number of respondents engaging in a variety of digital business interactions for the first time during 2020, only 54% of them rated their experience as “excellent.”
The sophisticated consumer and need for adaption
Quick-Take: While many businesses have prioritized the shift to meeting digital, our research found that supporting customer needs across the digital journey still needs some attention. Only 1 in 4 consumers can get the real-time help they need when engaging a business online.
DATA & PRIVACY
Bill Would Set National Data Privacy Standard
Quick-Take: The House will soon consider legislation that would create the federal government’s first data privacy standard and force companies to write their privacy policies “in plain English.”
How to Protect Your Customer Data
Quick-Take: The Ponemon Institute’s 2020 Insider Threat Report, 65% of security incidents are a result of employee negligence, with insider threats growing 38% in the retail industry over the past two years. Passwords are a top culprit, with SecureLink finding that 81% of malicious breaches start with compromised passwords.
DESIGN THINKING
Blind Optimism to Sober Responsibility
Quick-Take: The thing that IDEO made a great argument for was that whether or not you’re designing a space, a physical product, a digital product, or a service, fundamentally, all of those things actually differ only in the end point of their expression.
SMART BUSINESS
Merging e-commerce with social good initiatives
Quick-Take: Overall, the data showed that brands saw 18% higher AOV on orders with donations in 2020, with a 21% quarter-over-quarter increase from $103 in Q3 to $124 in Q4.
Find past editions of TheCustomer QT here.
Photo by Paris Photographer | Février Photography on Unsplash .
