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We live and work in exciting times - revolutionary times. Technology continues to recast the media industry.
The extraordinary advance of affordable personal digital technology and the stellar rise of social networks are both distrupting and transforming the media market making this a unique moment to be involved in the convergence sectors we focus on.
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Wednesday, 5 September 2007
Its all about loyalty stupid
For many years I have wondered why media companies have not used loyalty programmes as a way of engaging and rewarding customers. Seems a bit of a missed trick given the competitive nature of the industry and the repetitive nature of the meduim.
Surely now is the time. Im sure newspaper readers would appreciate some organised recognition and generous (revelant) reward for their continued support of the meduim. Ditto tv, radio and so on.
As a specific example isnt it (finally) time for UK newspapers to cease with the senseless give aways and replace with thoughtful rewards programme that builds purchase frequency and strengthens reader relationships etc.
Maybe the reason for this missed trick is that there arent any loyalty marketing specialists out there? We know this isnt the case there are a few really great and intelligent shops out there. The real reason I fear is that building enduring relationships with customers requires thought, effort and long term committment.
Sound possible in a media company?