According to The Center for Retail Management at Northwestern University only 12% to 15% of consumers are loyal to a single brand. The same research indicates that this relatively small group of shoppers generate between 55% and 70% of a retailer's sales. Given these statistics it is easy to understand why so many retailers are focused on identifying and retaining these loyal customers and creating more of them. That said, retail loyalty programs are the least mature and, in many ways, the most challenging to develop and sustain. A combination of data challenges, financial constraints, channel management and cultural issues have made it difficult for retailers to maximize the value of their loyalty programs.
The Mallett Group has worked with some of the biggest and well-known retailers helping them overcome challenges and develop successful strategies and programs. We have supported the launch of retail programs into the marketplace, created strategic partnerships and developed offer strategies and tactics to maximize program returns. We are actively monitoring hundreds of national, regional, and local retail programs allowing us to anticipate consumer trends and gain insight on what's working and what's not. To this end, we see firsthand the erosion in customer loyalty caused by daily discount programs and the need to master the use and integration of social media in growing profitable customer relationships. Using this knowledge, we help retailers create a roadmap for success that ensures loyalty marketing investments are allocated wisely and provide the desired bottom-line results.
Our expertise and experience include:
- Customer Loyalty Strategy
- Loyalty Program Development
- Co-Brand Strategy and Program Development
- Social Media Strategy and Integration
- Technology Assessment, Selection and Deployment
- Partnership Marketing
- Loyalty Program Optimization
- Program Measurement and Analysis
To learn more, visit our Ask Us page and request more information.