Webinar On-Demand: The Power of Analytics to Drive Loyalty
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The document discusses the importance of analytics in driving customer loyalty, highlighting TIBCO Loyalty Lab's offerings in loyalty technology and services. It presents insights from a survey of over 100 marketers on the current and desired methods of measuring loyalty program success and the effectiveness of various analytics capabilities. The document emphasizes the need for businesses to leverage data-driven decision-making to enhance loyalty programs and improve customer engagement.
Webinar On-Demand: The Power of Analytics to Drive Loyalty
- 1. THE POWER OF ANALYTICS TO DRIVE LOYALTY © Copyright 2000-2012 TIBCO Software Inc.
- 2. Your presenters today David Rosen Strategy, Analytics and Consumer Insights TIBCO Loyalty Lab Brett Hannath Director, Marketing TIBCO Loyalty Lab 2 © Copyright 2000-2012 TIBCO Software Inc.
- 3. TIBCO LOYALTY LAB WHO WE ARE © Copyright 2000-2012 TIBCO Software Inc.
- 4. TIBCO Loyalty Lab LOYALTY TECHNOLOGY LOYALTY SERVICES • Loyalty Lab On-Demand Loyalty • Program Strategy and Design Platform • Analytics • Predictive Analytics & Data • Creative Visualization • Program Support • Data Matching, Cleansing, • Data Integration Standardization, Enrichment • Customization • Messaging and Integration • Real-Time Contextual Marketing © Copyright 2000-2012 TIBCO Software Inc.
- 5. TIBCO Loyalty Lab clients Over 260 million consumer records managed © Copyright 2000-2012 TIBCO Software Inc.
- 6. What do marketers need? Offers Social Loyalty Context Programs Great Relevant Service Messaging LOYALTY Effective Real-time Mobile Engagement Single View Customer of the Insights Customer 6 © Copyright 2000-2012 TIBCO Software Inc.
- 7. What do marketers need? Offers Social Loyalty Context Programs Great Relevant Service Messaging LOYALTY Effective Real-time Mobile Engagement Single View Customer of the Insights Customer 7 © Copyright 2000-2012 TIBCO Software Inc.
- 8. WE WERE CURIOUS 8 © Copyright 2000-2012 TIBCO Software Inc.
- 9. We surveyed over 100 marketers… © Copyright 2000-2012 TIBCO Software Inc.
- 10. … to find how analytics are used to drive loyalty © Copyright 2000-2012 TIBCO Software Inc.
- 11. Who responded? Your company's Size of your company Your role in your industry by number of company employees C-level Financial Services / Banking 1 - 99 1,000 - 4,999 Manager Retail 100 - 499 5,000 + VP or Director 500 - 999 Don’t know Other Travel / Hospitality Other 2% 12% 15% 10% 18% 19% 19% 32% 20% 34% 54% 39% 9% 17% 11 © Copyright 2000-2012 TIBCO Software Inc.
- 12. Organizational culture The principle driver of analytics for Do you agree or disagree with the our company is: following statements when it comes to the culture of your organization? Top 2 Top 3 A third party We actively use the results to analytics inform our campaigns The loyalty firm team None of 7% 22% the above Test & learn is the foundation 16% of our culture Our organization has internal Our expertise in predictive analytics vendor 11% We have invested in significant predictive analytics / business intelligence The software and/or services analytics team We don’t have time to test – 44% we move too fast 0 20 40 60 80 100 12 © Copyright 2000-2012 TIBCO Software Inc.
- 13. Measuring the success of your loyalty program Current vs. Ideal Tools and Tactics Considered: • Use tools to measure social buzz and sentiment • As it relates to our loyalty program, analyze customer lift by basket size and frequency • Measure specific campaigns with A/B testing • Measure specific campaigns with rigorous test and control • Measure program ROI down to a specific number for overall program performance • Measure consumer satisfaction and attitudes 7-point scale 7-Strongly Agree, 1-Strongly Disagree 13 © Copyright 2000-2012 TIBCO Software Inc.
- 14. Current loyalty program measurement How do you CURRENTLY measure the success of your program? Top 2 Top 3 Measure consumer satisfaction and attitudes Measure program ROI down to a specific number for overall program performance Measure specific campaigns with rigorous test and control Measure specific campaigns with A/B testing As it relates to our loyalty program, analyze customer lift by basket size and frequency Use tools to measure social buzz and sentiment 0 10 20 30 40 50 60 70 80 90 100 14 © Copyright 2000-2012 TIBCO Software Inc.
- 15. Desired loyalty program measurement Ideally how would you LIKE TO measure the success of your loyalty program? Top 2 Top 3 Measure consumer satisfaction and attitudes Measure program ROI down to a specific number for overall program performance Measure specific campaigns with rigorous test and control Measure specific campaigns with A/B testing As it relates to our loyalty program, analyze customer lift by basket size and frequency Use tools to measure social buzz and sentiment 0 10 20 30 40 50 60 70 80 90 100 15 © Copyright 2000-2012 TIBCO Software Inc.
- 16. Current vs. desired measurement 7.00 How do you CURRENTLY measure the success of your 6.50 6.00 5.50 Measure consumer program? satisfaction and attitudes 5.00 Measure program ROI down to a specific number for overall program performance Measure specific campaigns using rigorous test and Analyze customer lift by basket size and frequency control Measure specific campaigns using A/B testing 4.50 Use tools to measure social buzz and sentiment 4.00 3.50 3.50 4.00 4.50 5.00 5.50 6.00 6.50 7.00 Ideally how would you LIKE TO measure the success of your loyalty program? 16 © Copyright 2000-2012 TIBCO Software Inc.
- 17. Are dashboards and reports important/effective? Effective vs. Important Dashboards / Reports: • Breakage rate • Point accrual • Point redemption/conversion • Channels • Products (SKU) • Offer performance • Segment migration 7-point scale 7-Extremely Effective/Important, 1-Extremeley Ineffective/Unimportant 17 © Copyright 2000-2012 TIBCO Software Inc.
- 18. Performance dashboards/reports effectiveness How effective do you rate your Performance Dashboard / Reporting capabilities? Top 2 Top 3 Segment migration Offer performance Products (SKU) Channels Point redemption / conversion Point accrual Breakage rate 0 10 20 30 40 50 60 70 80 90 100 18 © Copyright 2000-2012 TIBCO Software Inc.
- 19. Performance dashboards/reports importance How important are the below Performance Dashboards / Reports? Top 2 Top 3 Segment migration Offer performance Products (SKU) Channels Point redemption / conversion Point accrual Breakage rate 0 10 20 30 40 50 60 70 80 90 100 19 © Copyright 2000-2012 TIBCO Software Inc.
- 20. Importance vs. effectiveness in reporting 7.00 How effective do you rate your Performance Dashboard / 6.50 6.00 Reporting capabilities? 5.50 5.00 4.50 Point redemption / conversion Segment migration Offer performance Point accrual Products (SKU) 4.00 Breakage rate Channels 3.50 3.50 4.00 4.50 5.00 5.50 6.00 6.50 7.00 How important are the below Performance Dashboards / Reports? 20 © Copyright 2000-2012 TIBCO Software Inc.
- 21. Are certain capabilities effective/important? Effective vs. Important Analytics Capabilities: • Modeling and predictive analytics • Liability measurement and management –auditing • Matching members to offers/ Offer optimization 7-point scale 7-Extremely Effective/Important, 1-Extremeley Ineffective/Unimportant 21 © Copyright 2000-2012 TIBCO Software Inc.
- 22. Importance vs. effectiveness in analytics 7.00 6.50 How effective do you rate your capabilities? 6.00 5.50 5.00 4.50 Liability measurement and 4.00 management - auditing Modeling and predictive analytics Matching members to offers / Offer optimization 3.50 3.50 4.00 4.50 5.00 5.50 6.00 6.50 7.00 Within your loyalty program analytics, how important are the below? 22 © Copyright 2000-2012 TIBCO Software Inc.
- 23. WHY SHOULD WE CARE? © Copyright 2000-2012 TIBCO Software Inc.
- 24. Retail cross-sell modeling Customer/offer scoring; finding associated retailer and customer behavior © Copyright 2000-2012 TIBCO Software Inc.
- 25. Offers looking for people © Copyright 2000-2012 TIBCO Software Inc.
- 26. What we do when when we have something to sell, Earn double points to do, to promote… on Greek-style yogurt … who is the best candidate to convert without sacrificing profitability? • Category promotions • Cross-sells Buy three and get a • Product introductions coupon for a free • Partner offers frozen treat © Copyright 2000-2012 TIBCO Software Inc.
- 27. People looking for offers © Copyright 2000-2012 TIBCO Software Inc.
- 28. What we do when we want to change the behavior of specific members … … what is the best offer to most efficiently motivate the next action? • Come back, we’ve missed you • What to buy next • New member lock-in Welcome to yourRewards. Happy Birthday. Enjoy a Earn double points on your frozen yogurt on us! third entry © Copyright 2000-2012 TIBCO Software Inc.
- 29. WHAT’S HIDING IN YOUR DATA? © Copyright 2000-2012 TIBCO Software Inc.
- 35. A BETTER APPROACH IS NEEDED User Driven Freedom to Explore Power to Discover Collaborative Responsive to Events Any and All Data!
- 36. …visualization-based data discovery tools have far-reaching implications for how business information is consumed….end-user organizations should adopt use as a way to improve the success of their BI program. - Gartner, June 2011 ANALYTICS & DATA DISCOVERY Visual, Intuitive, & Interactive REPORTING STATS Dynamic, Fast, & Easy to Use Useful, but Limited Powerful, but Highly to Static Complex Information Ad-hoc Q&A, Customizable Difficult to Predetermined Customize Questions Only Empowers All For Advanced IT-dependent User Populations Users Only
- 37. Spotfire Value Drivers Universal Adaptability Visibility Into the Unknown Leverage a single analytics and data discovery platform Discover insights hidden in Big Data and Real-Time to empower anyone, anywhere to make insightful Events to immediately identify strategic business decisions opportunities or threats . Self-Service Discovery Fastest to Actionable Insight Freely explore data to any level of detail, radically Instantly turn insight into action by enabling anyone to accelerating decision making, while dramatically reducing rapidly discover hidden insights and quickly collaborate in dependence on IT context
- 38. DEMO © Copyright 2000-2012 TIBCO Software Inc.
- 39. Thank you! • Event follow-up email – presentation, survey results, whitepapers • More information @ www.loyaltylab.com • Email questions to [email protected] • Nov 6 Webinar - Success with Social Loyalty forms.loyaltylab.com/webinar_ssl © Copyright 2000-2012 TIBCO Software Inc.