By John Gaffney
Loyalty Lab is stretching out into the consumer packaged goods business. After bringing on-demand loyalty programs to retailers, the company announced this week that Loyalty Lab Link will provide a "substantial" update of its existing code management capabilities. Loyalty Lab generates unique codes to be distributed with products or at events. These codes allow marketers to link transactions or activities with customers down to the SKU and channel level.
For CPG companies it provides an acid test to measure the "bounce" that quick hit promotions or trade efforts give a product. It's a win for retailers, too. Instead of relying on trade promotion management systems, or anecdotal sales figures, the codes provide a common ground for CPG companies and retailers. So when that FSI drops on Sunday, sales on Monday won't be a mystery.
Oh yeah. There's this little matter of the economy, too.
"With the current state of the economy, the long-standing relationships between marketers, their channels and consumers have fundamentally changed." notes Loyalty Lab President Matt Howland. "Campaigns are pretty ineffective at creating long-term customer value, so our solutions let strong brands have a real stake in the consumer relationship. Our job is to make that happen swiftly and economically."