Maritz Motivation Solutions Adds Decision Sciences to Loyalty
Maritz Motivation Solutions, a provider of loyalty programs, has introduced decision sciences to the loyalty space, combining traditional data analytics with behavioral science and machine learning to uncover leading indicators so marketers can better predict customer defection.
"Maritz decision sciences is the next evolution of loyalty analytics. Traditional analytics treats customers as rational actors, who make every decision on a cost-benefit analysis. We know this simply isn't true. Brand choices are always a combination of rational and emotional drivers. With decision sciences, we help marketers intervene and retain customers before they have mentally checked out," said Barry Kirk, vice president of loyalty solutions for Maritz Motivation Solutions, in a statement.
Services offered by the new decision sciences group include the following:
- Strategic design assessments: analysts evaluate the structure of programs and make data-driven recommendations.
- Predictive modeling: using machine learning, analysts create algorithms to predict customers most likely to engage, disengage, spend, defect, or any other behavior pertinent to the program.
- Conjoint-based research: provides a window into customer preferences and their likely reaction to multiple program change scenarios.
- Persuasive design labs: expert-facilitated experiences through which marketers can apply data and behavioral sciences to iterate evolutionary changes to loyalty programs.
- Dynamic segmentation: using advanced clustering methodologies, analysts segment customers based on behavior, allowing for targeted communications, custom strategies, and a more efficient marketing spend.
"Traditional predictive models used in today’s loyalty programs often fail because customers are humans, not robots. Our new decision sciences group sets our loyalty solution, LoyaltyNext, apart allowing us to see ahead and design experiences based on what program customers actually want and what they are most likely to do," said Jesse Wolfersberger, Maritz Motivation Solutions' senior behavioral economist, in a statement.
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