The most successful brands know that customer loyalty isn’t bought, it’s built. Rewarding loyal advocates is a great way to build long-lasting customer relationships and keep them coming back to your business time and time again.
Executing an effective loyalty program requires the right approach, platform, and partner—but not all loyalty platform providers are created equal. Let’s look at five must-haves that separate the average loyalty platform providers from the rest.
5 Must-Haves to Look for in a Loyalty Platform Provider
When choosing a loyalty platform provider for your business, there are certain must-have features and differentiators to look for, including:
1. A Collaborative, Strategic Partnership
Your loyalty platform provider should be more than just a technology vendor—they should be a true strategic partner who serves as an extension of your team.
When evaluating potential loyalty platform providers, look for a marketing-first partner that develops strategies and solutions specifically for your business. They should offer loyalty strategy and design, implementation and execution, program management and analytics, and the loyalty platform itself.
Also, choose a partner who is the right size for your brand to ensure you don’t get lost in the fray working with someone who fails to meet your needs. Additionally, your loyalty platform provider should offer exceptional customer service to ensure your program runs smoothly and successfully.
2. Personalization for Each Customer
No two customers have the same wants, needs, or preferences. That’s why personalization plays such an important role in building loyalty.
The best loyalty platforms allow personalization for each customer to improve retention and build stronger relationships. Personalization comes in several forms, such as using customers’ names, offering recommendations, and tailoring your rewards and messaging to each person’s unique preferences.
3. Rewards Customers Love
Not all loyalty programs are equally engaging. To help you stand out in a crowded sea of loyalty programs, your partner-in-loyalty should offer a variety of rewards that customers actually like to see. After all, U.S. consumers belong to 16.6 programs on average.
Examples of different loyalty rewards that customers appreciate include:
- Free merchandise or services
- Early access to sales and events
- Special discounts and upgrades
- Cashback or store credit
- Convenience perks
- Exclusive products
- Charitable donations
- Special events and workshops
Customers today also love gamified loyalty programs. Providing the option for customers to unlock different rewards can incentivize certain actions and engage customers in a fun and interactive way. (And if you can make your loyalty program fun for your customers, why not? It’s a win-win!)
4. An Industry-Leading Loyalty Platform
Of course, even the best loyalty partner needs to offer an industry-leading platform to help you achieve success and see a substantial return on your investment. Look for loyalty program software that both your IT and marketing teams will love.
What does a top-notch loyalty platform look like? They’re custom-configured to align with your marketing and business processes. They’re also API-driven in nature, with the ability to integrate with existing technologies such as eCommerce, messaging, social media, cloud point-of-sale systems, and business intelligence platforms. Additionally, hosting and security support is essential in a loyalty platform to help free your IT team from doing the extra-heavy lifting.
5. Program Management and Analytics
The loyalty platform of your choosing should also have the ability to monitor important loyalty program metrics, such as your reward redemption rate.
Using data and analytics to track your loyalty program’s performance can help you determine how effective it is and whether a new approach is necessary to improve results. Learning what’s working and what’s not will allow you to make strategic adjustments that optimize your loyalty marketing over time.
Keep Customers Coming Back with the Right Loyalty Platform
Strategic, well-executed loyalty programs are beneficial in many ways, but you need the right partner to help you get there.
Baesman offers each of these must-haves and more. Our end-to-end loyalty marketing services help businesses simplify campaign management, achieve stronger and faster results, and measure what’s working well (and what’s not) to track performance from day one. We call our unique approach “loyalty evolved” because we’ve seen firsthand how it helps companies like Shoe Carnival and American Girl transform customer relationships.
Ready to start growing your business with a focus on customer loyalty? Download our free eBook, Customer Loyalty Programs: What You Need to Know, for practical tips and real-life examples to help you on your journey.
