With all loyalty programs gradually beginning to look very similar to one another, it is now more important than ever to make sure that what your business is delivering to its client base is fresher and more unique than anything your competitors are doing. Adding digital assets to your current customer loyalty offering is a great way to make your business appear very different to what your competition may be doing.
Digital assets are online assets that can be issues to your consumer based on certain pre-requisites that you are able to set as a brand and give you the flexibility to tie any related benefit to them, to achieve the goals that your marketing team has in mind.
Here are 4 ideas for how digital assets can become part of your loyalty program:
1) Replace discounts with digital assets
Discounts are a great way to make sure that any dead stock that you have remaining is sold off to customers. It is also a way to make customers feel the FOMO during certain specific days. The biggest issue with constantly having large “SALE” or “CLEARANCE” banners across your site is the damage that the value of your brand sustains from it. These words and connotations automatically reduce your brand identity down to the idea of getting something at a discount.
Replacing these sales and clear-outs with carefully branded digital assets that represent rewards such as specific discounts on items from certain collections or additional benefits to customers, who have completed certain milestones allows the brand to achieve the same sales strategy, but to do so in a way that is more tasteful and that preserves the branding. It is important for brands to find the right balance between brand perception and discounted offerings. By using digital assets instead of blanket discounts, you are also able to create more customised markdown solutions that are tailored to the needs and wants of individual customers— each digital asset can be predicated on historical values and thus can be customised in a way that will incentivize purchases.
2) Revamp your brand ambassador program through digital assets
The cornerstone of most companies that are looking to challenge established names in a given industry is the affiliate marketing and creating a robust network of brand ambassadors. To make the connections between your the brand and the ambassadors of the brand even stronger, you should consider rewarding brand ambassadors with digital assets. This gives them an additional asset that can be used when posting about your brand, it allows customers to enter the brand via the ambassador in a more creative way, and it also allows you to reward the brand ambassador with different digital assets based on how effective their campaign has been, which unlocks different levels of rewards for them. As a marketing professional, you will be able to create communities with brand ambassadors of different levels based on their digital collectibles and create powerful events or activations that will only be accessible to those brand ambassadors with specific levels of collectibles.
3) Create new layers of brand interaction for your customers
Storytelling is an important part of branding. The ability for your customers to understand exactly what this brand stands for and the philosophy that the brand goes by when executing anything from day-to-day decisions to large strategy shifts. In the current state of affairs, messaging is delivered to consumers through advertising. Specifically the themes, the language, and the tone of voice that is being used by the brand when communicating with customers in ads. The versatility of digital assets allows you as a brand to create a two way communication with your customers to push ingrain your brand identity even further with them.
Create quizzes, learning opportunities, brand questionnaire, video content that can be consumed by customers in exchange for receiving digital assets. In a world where attention span is decreasing and the competition for these precious moments of attentiveness is fierce, as brand must make opportunities for content that is engaging. Being able to create a way for the client to actively participate in branding moments is very valuable and is something that is possible with the implementation of digital assets in your brand loyalty solution. Gamification is the way forward!
4) Collaborate in new and inventive ways
Collaboration is the name of the game at the moment. Every brand out there is looking to secure great partners to make items that stand out. To push your digital marketing further, add in collaboration into the digital asset creation process to make your masterpieces even more talked about. Partner with an artist, a singer, an influencer to make co-branded digital assets which will get picked up by the public and the media.
Use digital assets as an opportunity to further your collaboration into the digital sphere, which can help the physical collection at the core of it, by implementing a deeper level of relationship that will forever live within customer profiles.
This is just a taster, and there is so much that can be done for your brand if you implement digital assets into your loyalty ecosystem. If you’re interested in learning more, or in implementing some of these solutions into your loyalty, feel free to reach out to Bubblehouse. We are excited to chat with you!