POSTED : October 12, 2021
BY : Lonnie Estep
Categories: Loyalty & Connected Membership,Strategy & Design
Brands cannot afford to ignore the benefits of loyalty in today’s business environment—selecting the right loyalty SaaS platform is key.
The time to move to a SAAS loyalty platform is now. Brands worldwide are taking stock of their customer engagement strategies and applications to prepare for a post-COVID world. As they do, marketers are realizing that launching a loyalty program or an overhaul of their existing program is the need of the hour.
This trend is being driven by significant tailwinds that include shifting customer preferences, the growth of digital-native competitors, COVID-fueled changes in customer buying patterns, and the vast amount of data brands have been collecting (yet ignoring) for years. Amid these changes, loyalty has grown beyond points and tiers to evolve into an integrated experiential model that drives strategic outcomes for brands.
As a result, brands need to consider where modern loyalty platforms fit within their overall customer engagement strategies and how they can seamlessly integrate loyalty with the rest of their customer-facing touchpoints. We believe that cloud-based SaaS products offer significant advantages over available legacy systems for loyalty platforms:
Brands looking to make the jump to a SaaS solution will face the critical decision of selecting the right platform for loyalty. To ensure oversight and due diligence, the process of choosing a loyalty platform should leverage:
Once the platform is chosen, stakeholders should define short, and long-term action plans and activities needed to achieve the organization’s strategic objectives. At this point, the organization should foster stakeholder collaboration and program management to create a project plan, supply resources, identify key success metrics, and manage the project. Finally, the organization should integrate loyalty with the rest of the tech stack, especially regarding customer-facing applications, underlying customer data platforms (CDP) or customer relationship management (CRM) technology, and analytics.
Applying new strategies is always a challenge, even for the most flexible companies, but brands cannot afford to ignore the benefits of loyalty in today’s business environment. Selecting the right loyalty SaaS platform and leveraging an effective implementation strategy is key to launching successful loyalty programs and building relationships with satisfied customers.
Learn more about how Concentrix Catalyst can help you win with the right loyalty SaaS platform at catalyst.concentrix.com.
Article originally appeared at CIO.com.