Is your loyalty program performing at the top of its game?
Loyalty programs are constantly evolving, in fact, you could say the key to survival is adaptation and constant evolution.
There are some clear signs your existing program isn’t working as well as it should. If you’re struggling to get member engagement and are seeing a decrease in earning or redemptions; are finding it hard to get new members signed up; or are fielding more complaints than you’d like, it’s time to consider a loyalty program revamp.
The same applies if your program is proving too expensive to run or just doesn’t support the overall company strategy anymore. While we want our customers to get great benefits from our programs, it can’t be at the expense of the business itself.
Revamping your program shouldn’t be a negative: It is just part and parcel of the process.
Adding more engaging features, such as new perks or a badge system, and offering a range of great rewards, can help bolster the customer lifetime value and address issues of decreasing earnings and redemptions.
Gamification elements can also add more fun to your program, and increasing personalisation to ensure relevant, meaningful offers is always a winner.
For companies wanting to rectify an underperforming program, or indeed quickly scale a successful program, there can often be one big stumbling block – their loyalty program software.
Loyalty programs aren’t static or simple. There are a lot of moving parts to navigate from tracking points earned and redeemed to sending comms to encourage engagement, or out sending rewards.
The flexibility to configure your program the way you want to, to integrate it with any data source and scale it affordably and get the data you need to personalise the program and reward customers with relevant meaningful offers, are crucial in your customer loyalty software, but they’re not a given.
Having the right technology in place can remove the burden of time consuming management requirements, freeing you up to focus on delighting your customers.
So what are some of the key areas you should consider with our loyalty program software?
- Technology that is flexible enough to allow you to configure your program the way you want it. Whether it’s adding new features or redemption options, changing how you engage with members, or even adding a surprise bonus offer, you want your customer loyalty platform to be fully customisable and flexible, in a way that is quick and easy.
- A solution that doesn’t require expensive integration. Your loyalty program will have multiple touchpoints, from commerce solutions, payment gateways and the latest fintech offers to ERP and CRM platforms. Integrating it shouldn’t be expensive, time intense or systems prohibitive.
- The ability to quickly and affordably scale with your needs. Making changes and scaling can often be a costly exercise, with long development cycles and the need to bring in tech expertise to assist, further adding to expense. What you want? A self-managed solution, with merchant funding and scalability.
- A solution that helps you stay ahead of the competition in the long run. In a competitive market, with rapid change and member fatigue, you want a solution that provides technology innovation and exciting new reward propositions such as equity and carbon offset options.
- The ability to use data to personalise rewards and provide members with relevant, meaningful offers. Loyalty programs live and die by their data – without it, your program is a shot in the dark. Your members want personalisation, but you also need to consider the implications of increasing privacy regulations. Effective analytics and business intelligence features also allow you to track the performance of your program, and any changes you make, more accurately, enabling you to further fine-tune it to maximise returns.
Gratifii’s Mosaic loyalty platform solves these common headaches, making it easy to deliver tailored loyalty programs and content.
A fully configurable rules engine supports any program proposition while an interop microservices structure supports fast, easy plug-and-play integration with any external system, including PoS, ERPs and partner systems.
An extensible enterprise cloud platform, Mosaic leverages modern technology to provide an affordable solution that scales with you and enables you to keep ahead of the competition with constant innovation and the data and personalisation you need. Plus our highly skilled loyalty team can help you manage the program.
Interested to hear more about how Mosaic can help lift your loyalty program to new heights? Request a demo now to find out more.