Purchase Data Reveals Surprising Truths about Customer Loyalty
ATLANTA, Georgia, March 18, 2014 – Cardlytics, the leader in Card-Linked Marketing, today announced the release of its latest white paper: “Understanding True Loyalty – Gaining Insight into Customer Loyalty Based on Whole-Wallet Spend.” This white paper goes into detail on what makes a customer truly loyal and how marketers can more accurately communicate with this important group using Whole-Wallet Analytics. This white paper compares consumer spending within categories to test the predominant theory that a retailer’s most frequent customers are their most loyal customers. Through relationships with nearly 400 banks in the US and the UK, Cardlytics utilizes their patented Cardlytics Automated Transaction System (CATS) to analyze the purchase behavior of consumers within and across categories and geographies. The analysis demonstrated that frequency should not be the only determining factor when identifying an organization’s most loyal patrons. During a 6-month period in 2013, Cardlytics looked at actual consumer purchase transactions in the following retail categories: restaurants, apparel, gas/convenience, grocery and general retail. Cardlytics’ research revealed that consumers who shop frequently with one retailer – at times – actually shop more frequently with competitors. Marketers should take this into consideration when approaching these consumers, as they behave differently from those that shop with their business exclusively. The white paper details the methodology of Whole-Wallet Analytics, including case studies and related data findings for several categories. Readers will take a deeper dive into specifics discovering: • The different customer segments such as New Customers, Infrequent Customers, Heavy Switchers, and Heavy Loyals and how marketers can develop a strategy to reach each type • How the top 20% of loyal customers for any business differ from one another within this group • Examples of loyalty versus frequency in each retailer category “Traditionally, customer loyalty has been gauged by how frequently a consumer shops with a business,” said Kasey Byrne, CMO at Cardlytics. “While frequency does play a factor, we must look at where else the consumer is shopping to gain a complete perspective of customer loyalty. With Whole-Wallet Analytics, we’re able to determine the shopping habits of true loyal customers and develop even more targeted campaigns that cater to the needs of each consumer.” The white paper is available now and can be downloaded: here.
Cardlytics is a leading advertising & technology company and the pioneer in Card-Linked Marketing. Through partnerships with nearly 400 financial institutions, including Bank of America, Lloyds Banking Group and others, the company has insight into consumer purchase behavior for ~70% of U.S. households and ~30% of U.K. households, capturing spending across all stores and categories. Cardlytics’ patented technology allows advertisers to make a direct connection to millions of active buyers, through their online banking and mobile banking applications. Cardlytics is headquartered in Atlanta, with offices in London, New York and San Francisco. The company is funded by leading investors in Boston and Silicon Valley, as well as a strategic investment from the world’s leading loyalty company, Aimia. Media Contacts: Retail/Marketing/Advertising Media: Heedrin Bustamante Grayling 415-442-4019 firstname.lastname@example.org Corporate: Carla McMorris Cardlytics 916-213-1398 email@example.com