Over the past several years we all kept hearing about Big Data and how it was going to revolutionize marketing. I guess the best kept secret was how do we use all this data. Yeah, of course it is great to collect data on what your customers are buying and how they are responding to your campaigns, but are you just collecting data because you can?
What Is Big Data
Now, let’s back it up a bit. Let me briefly explain big data for those that have been living under a rock for the past 5 years. Well according to Gartner:
Big Data is high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.
Yes, I know that is a lot of words for a sentence. So in layman’s terms, big data is analyzing large sets of data to gain better insights into customer buying habits, patterns, marketing campaigns and more. Ideally big data should make it quicker to find valuable information.
Big Data Meets Loyalty Programs
As you can imagine, big data is great for your customer loyalty program. You are collecting information on products that are selling well and what campaigns seem to be working. But something seems to be missing? Big Data was supposedly such a revolutionary term and just collecting this data is okay but nothing ground breaking.
A good loyalty software can not only help you collect big data, but should be able help you figure out what to take away from the data. With SailPlay you collect all sorts of big data, ranging from customer retention information to product sales performance and more.
How to Use Big Data For Your Loyalty Program
As previously mentioned, SailPlay collects all sorts of big data for your customer loyalty program. But through machine learning and pre-configured triggered campaigns, SailPlay can help you see your data clearly and automate next steps.
|Machine Learning: Ability of a machine to improve its own performance through the use of a software that employs artificial intelligence techniques to mimic the ways by which humans seem to learn, such as repetition and experience.|
Using machine learning, SailPlay can help you move new loyalty customers into specific groups based on their history. For example, you are currently running a loyalty program for your pizzeria. Your customer base is pretty diverse, with the following customer groups:
- Work Managers: Typically orders at least 7 pies
- Party Orders: Typically orders 5 pies
- Families: Typical orders 2 pies
- For Two: Typically orders 1 pie
- Just Me: Typically orders 1 personal pie
For each customer group, there are specific promotions and specific packages running. When a new customer, Erik, joins your loyalty program, SailPlay can automate which group Erik is placed under based on his purchase history. If he is usually purchasing 5 pies per order, then Erik will be placed under Party Orders customer group. Now Erik will receive more targeted promotions, keeping him more engaged in your program.
Plus with machine learning, you can provide product recommendations to loyalty customers. If you know customers in the Party Orders group usually order a package of 2 dozen chocolate chip cookies, you can recommend these cookies to Erik. Thus helping upsell your products.
Machine learning can also be used for non-purchase activities, such as rewarding specific customer groups with more bonus points based on the group’s history. Currently your loyalty customers receive 10 bonus for referring a friend to the program. If customers in the Party Orders group have referred a high percentage of friends, then, through machine learning, reward all future refer a friend actions with 15 bonus points. The Party Orders customer group has shown to increase the size of your loyalty program, as a result it is beneficial to provide them with more bonus points to continue growing your program.
What To Do Next
These are just a couple of examples of how SailPlay can help you take the next step with your big data. So stop just collecting data and contact SailPlay today!
SailPlay can help you uncover hidden data gems, providing your customers with the best possible experience in your loyalty software.