Welcome to the weekly round up: a culmination of news, ideas and learnings from the SessionM world.
Quote of the week:
"Targeting "boomers" or "millennials" is a recipe for disaster. Brands need to target Mary vs Paul vs Susan to engage and drive true customer loyalty". - Sherif Mityas, Chief Experience Officer at TGI Fridays
Discussing the Future of Data Strategy
SessionM CEO Lars Albright sat down for an in-depth interview with Martech Advisor to discuss how data-driven marketing has evolved over the last several years, and what the future holds.
How TGIF Drives a Truly Personalized Guest Experience with Technology
Sherif Mityas, the Chief Experience Officer at TGI Fridays also sat down MarTech Advisor and shared both his TGIF’s experiences and his advice - for his marketing peers to learn about AI-driven customer experience, choosing the right martech components, outcomes of their CDP investment and skills that a modern day marketing team needs to thrive.
The General Data Protection Regulation Goes into Effect Today!
The General Data Protection Regulation (GDPR) is an EU law with large scale global impact. The GDPR mandates detailed data protection requirements on entities collecting or processing “Personal Data” of EU Citizens. Additionally, the GDPR grants EU Citizens enhanced rights including: (a) the right to access and control the personal data organizations are collecting/processing, (b) restrict or opt - out of collection/processing and (c) a right to be “erased” or “forgotten” from databases.
Discounting to people willing and accustomed to paying full-price is unwise. It's margin eroding. Discounting, even steep discounting, to people to encourage incremental behavior is extremely wise. If margin preservation is important to you, think about a personalization strategy that allows you to dole out discounts with an eyedropper, not a firehose. For more insights check out our new blog post!
How Many Shoppers Would Pay for Advanced Loyalty Programs?
According to a Retail TouchPoints article dissecting The Loyalty Report 2018, published by Bond Brand Loyalty, more than one-third of shoppers would pay for enhanced loyalty programs. Looking for some more stats to tell your friends? Consumers spend 37% more with brands when they are loyalty program members; 70% of members say they are more likely to recommend brands with good loyalty programs, and 77% say loyalty programs make them more likely to continue doing business with a brand.