Maritz Motivation, a leader in providing loyalty solutions to US and global companies, led a keynote and panel discussion at the Wise Marketer Group’s 2019 Loyalty Academy Conference, held on March 6 and 7.
Barry Kirk, VP of Loyalty Strategy, presented a keynote titled, “Your Brain on Loyalty: Why Behavioral Science is the Key to Next-Gen Consumer Engagement.” In the session, Kirk:
- Identified the cultural shifts affecting consumer attention and choice.
- Shared frameworks for a more evolved understanding of consumer behavior.
- Offered a vision for a new behavioral science-based toolset for loyalty marketers.
“The holy grail of traditional marketing has always been understanding what will make a customer decide to buy today. But the holy grail of loyalty marketing is how to keep them buying into the future. The latter is a far trickier proposition,” Kirk said.
Following his keynote, Kirk led a panel discussion on the role of behavioral science in the evolution of customer loyalty solutions. The panel included Dr. Chris Summers, assistant professor of marketing at the Darla Moore School of Business at the University of South Carolina. Dr. Summers’ work focuses on how consumers’ past actions, knowledge of marketing tactics and interactions with new technology shape consumer behavior and decision-making.
Kirk said, “As consumers become more digitally-savvy and struggle to deal with vast amounts of information, technology solutions and AI will be part of the answer, but they won’t be the whole answer. This is where behavioral science comes in.”
“Consumers are human beings first, so earning their loyalty requires a better understanding of what makes them tick and what makes them choose one brand over another. More often than not, that is an emotional decision, not a rational one. Understanding human psychology has become be a critical skill in the loyalty marketer’s toolkit,” Kirk added.
The Wise Marketer’s 2019 Loyalty Academy Conference is a leading forum dedicated to exchanging high quality thought and opinions by bringing together the best and most innovative minds in customer loyalty to discuss innovations, trends, and challenges impacting customer marketers. Maritz Motivation is a platinum sponsor of this annual conference, where senior marketers and executives will gather with loyalty marketers and practitioners to share collective insights and strategies that lay the foundation for the industry’s future sustainable growth.