The Loyalty Leap - by Bryan Pearson
Collecting data is easy for marketers. Figuring out what to do with it is hard.
Technology has made it almost routine for companies to know exactly when, where, and how their customers shop, both online and off. As soon as someone pulls out a credit card—or even better, a membership rewards card—the data floodgates open. United Airlines knows if you think it’s worth $25 to check a suitcase. Verizon knows how often you call your mom. Hilton knows if you prefer a higher floor and a room away from the elevator.
But after gathering and crunching all this customer data most companies have little or no idea how to use it. They either let it go to waste or abuse it with ill-considered, irrelevant, or even creepy marketing pitches. There’s a much better option, as Bryan Pearson has discovered after twenty years of studying the hidden patterns of consumer behavior. It really is possible to turn customer information into customer intimacy— systematically, efficiently, and without invading anyone’s privacy. And intimacy is the key to long-term loyalty, growth, and profits. As Pearson writes:
Customers can only be acquired, churned, and reactivated so many times before they tire of your brand. There is a proven marketing equation in which customers willingly share information with you in the expectation of being better served and valued during future transactions. Capitalizing on that equation is our business responsibility.
Pearson believes this is one of the most exciting times in the history of marketing, and that loyalty marketing will be increasingly essential for years to come. His book will take you behind the curtain to show how the best companies are doing it.