The smartest of marketers have developed and relied on an offer taxonomy based on the four "p's" — product, price, place and promotion — for the last 50 years or so. For years these four p's have helped marketers measure, classify and optimize different offers against one another based largely on these trigger points, allowing for an organized and optimized marketing mix that drives revenue with the most efficiency. And that taxonomy (i.e., the process of determining how all the offers from brands should be broken down into distinguishable pieces) has held its grip on the marketing industry.
Engagement is a buzzword of late, with every marketing firm and brand waking up to the notion that — stop the presses — engaging with and rewarding customers in relevant, timely ways generates positive word-of-mouth and increases sales. For one segment of the population, however, engagement strategies have always been at the center of the sales pipeline. I'm speaking of course about loyalty marketers.