forecourttech February 20

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forecourttech According to the report, mobile apps are the most popular method of tracking rewards. pageten In the increasingly competitive retail fuel industry, loyalty schemes can be a key tool in driving profitable customer behaviours. But, to engaging today’s tech-savvy consumers it requires more than just creating an appealing offer. Customers want personalised experiences and instant reward, and this requires retailers to think not just about what they are offering but also how they’re offering it. The Road to Rewards Report examines the needs of CPG brands, grocers, convenience store operators, and consumers with the aim of providing a comprehensive view of the retail loyalty landscape and what is driving consumer behaviours. The trends unearthed in this year’s report are clear: rewards programs that leverage loyalty currencies with universal appeal and offer everyday value can help Data is perhaps the most valuable asset that retailers have, and it’s probably still the most under utilised. Brandon Logsdon President & GM of Marketing Cloud Solutions for PDI retailers compete as well as fast-track them on the road to loyalty success. But it is retailers who are fully utilising customer data and applying it with industry-specific marketing and loyalty technologies that are reaping the biggest rewards. “Data is perhaps the most valuable asset that retailers have, and it’s probably still the most under utilised,” explained Brandon. “To effectively use data, you have to have a holistic view of the data, or you run the risk of using the data inefficiently or just being wrong about an outcome. Fuel marketing and convenience retail, more so than any other retail space, has a lot of point solutions, and each collects valuable customer data. If you don’t have a well thought out plan with tools to rectify the disparate nature of all of those data points, then you’re going to have a really hard time having a holistic view of the customer, and that’s going to be a big barrier to how you effectively use the data,” added Brandon. Since the report first launched in 2015, there has been a huge shift in how customers interact with retailers and consumer attitudes towards technologies. The report highlighted that the least engaged group with fuel station loyalty programs is Generation Z, those born after 1995, who have grown up with technology and tend to disengage from traditional marketing techniques. “With Gen-Z, and also the millennial generation, you can’t be singularly focused on a communication channel, you’ve #forecourttech @forecourttech www.forecourttech.com
forecourttech got to be omni-channel. These generations want offers, they want rewards, they want to be spoken to on a one-toone basis with strong personalization, but they also want a little bit more. They want to understand the ethical nature of what is being delivered to them in the products, and they want offers that align with their core beliefs. That’s a challenge for retailers, but I think it’s also a huge opportunity,” explained Brandon. When it comes to crafting an offer, everyday savings are the biggest hit with customers, with survey participants highlighting fuel savings as the most desirable. “To recruit customers, you have to know what the customer wants. If you know what the customer wants and needs from you, then you can craft an offer and a reward that will be appealing to them. If you’re just putting a reward in market for the sake of having a reward program or because your competitor has one, you may not always have success getting customers interested in it,” said Brandon. As well as getting the right offer, customers want this delivered in the right place at the right time: “We know that if you don’t have real-time redemption involved, consumer adoption, consumer interest, activity data—all the key metrics of a loyalty program—start to fall off,” said Brandon. Couple this with the fact that over 70 percent of transactions in the US occur at the dispenser, then having the right technology in place to create an innovative fueling experience for the customer is essential. The use of instant savings at the dispenser is hugely appealing to customers, and for retailers, it can be a useful tool in combating one of their biggest business challenges. Retailers in the report expressed concern over the rise of the digital consumer and its impact on store footfall, but Brandon believes this actually presents a great opportunity: “What drives a lot of our program success is getting customers to come in the store and buy convenience items that then earn them a discount on gasoline. They can then go to the pump and redeem that discount. In that type of model, even though the gasoline is ultimately what you are discounting, what you are actually driving is in-store sales.” In addition to providing marketing solutions and offering decades of industry expertise to help businesses craft meaningful loyalty programs, PDI also manages its own “We know that if you don’t have real-time redemption involved, consumer adoption, consumer interest, activity data—all the key metrics of a loyalty program—start to fall off. rewards program, the Fuel Rewards® program. The program’s 20 million members earn rewards when they shop, dine, book travel, and make other day-to-day purchases, which can combine to drive down the price of fuel at the pump. Brands partnered with the Fuel Rewards program in the scheme include T-Mobile, Lyft, Dunkin’ and The Home Depot. The points earned between fill-ups can be redeemed at over 13,0500 Shell locations for instant fuel price rollback. These joined- up or coalition models are increasingly popular with consumers globally, but Brandon believes that there is still an opportunity for retailers to go it alone: “I think there’s room in almost every major country or market for both models. Relevance always wins, whether you’re doing a singular private label program or you’re in a joined- up program, consumers demand personalisation. Consumers have all been exposed to programs and opportunities where data has been used effectively, and what we have found, time and time again, is that consumers love that. They love it when they are served the right offer, at the right time in the right place. So, the question is how do you deliver that? Wherever you are, how do you deliver a program, irrespective of construct that leads to right offer, right time, right place?” For more information on PDI, visit www.pdisoftware.com. pageeleven Brandon Logsdon is the President and GM, Marketing Cloud Solutions. Brandon joined PDI in 2018. He oversees the Loyalty solution, in addition to the MarketLink and Data monetisation services. Prior to PDI, Brandon served as Excentus’ President and CEO, and was the driving force behind the launch of the most successful national coalition marketing program in the U.S., the Fuel Rewards® program, as well as robust loyalty solutions for the convenience retail and grocery industries. #forecourttech @forecourttech www.forecourttech.com
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forecourttech February 20

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