Loyalty should be rewarding
June 25, 2012
Loyalty is back in focus for some
of Australia’s major retailers, in
particular Coles, Woolworths and
Myer.
Loyalty programs are proving
themselves to be a real tool in
the marketing mix and in staying
relevant from a customer
decision journey as retail battles
new challenges.
Myer chief, Bernie Brooks,
speaking at the AFR/Macquarie
Group Future Forum on Retail
last week, highlighted Myers’
commitment to loyalty and
focusing marketing on premium
customers (who spend twice as
much as the average customer),
with 50% of their marketing
budget now linked to loyalty
initiatives.
Information is power; we segment
our pharmacy databases in a
number of ways - based on
shopping behaviour, life cycle
and demographics and we have
recently changed our segmentation
to recognise a pharmacy ‘super
shopper’, one who shops more
than 24 times a year.
We know that the top 20% of
the loyalty customers account
for approximately 67% of loyalty
sales – it is clear that being able
to communicate with these
customers directly is good for
business (particularly if they
suddenly stop shopping with you!).
But it is not enough to just have
a loyalty program, pharmacies
need a loyalty communication
plan to ensure the right message
is getting across at the right
time, triggering the desired
action from the customer.
instigo is a consulting company that
focuses on three areas of retail
pharmacy specialisation: people,
marketing and retail solutions.
For more information visit
www.instigo.com.au or call 02 9248 2600.
This week’s
contributor is
Shannon Kerr,
Marketing Manager, instigo.
The above article was sent to subscribers in Pharmacy Daily's issue from 25 Jun 12To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 25 Jun 12
