7 Ways A Customer Loyalty Platform Boost Brand Engagement

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7 Ways A Customer Loyalty Platform Boost Brand
Engagement
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(No Transcript)
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• Companies in every industry are utilizing
  customer loyalty solutions more often than ever
  before. Brands understand the importance of
  retaining existing customers and are choosing to
  implement a system directed specifically at
  building customer loyalty. Some marketers may
  think of loyalty programs and initially imagine a
  substantial portion of existing resources being
  funneled away into a program that doesnt deliver
  ROI.

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• However, pursuing new customers is the true cost
  burden a February 2018 article in Forbes asserts
  that keeping an existing customer is 5 times less
  expensive than acquiring a new one and increasing
  customer retention by 5 can increase profits
  from 25-95.
• Because marketers recognize that no two customers
  are the same, its clear that loyalty needs to be
  delivered strategically. One-off mass promotions
  that miss the mark for 80 percent of a brands
  customers are no longer efficient or
  cost-effective in an environment where consumers
  are exposed to between 4,000 and 10,000 brand
  messages every day.

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• Organizations need the ability to identify every
  individual that interacts with their brand with a
  data driven platform that provides a 360-degree
  single customer view, appeal to those specific
  needs and preferences, and build a level of trust
  that creates a 11 connection.

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How Loyalty Programs Drive Customer Engagement

• Customizable loyalty programs provide brands the
  ability to incentivize customers to make return
  visits, to purchase more, and refer others.
  Loyalty programs also offer brands a way to
  deliver personalized offers and promotions
  relevant to their members preferences. With a
  loyalty program empowered by FiOs Customer
  Loyalty Platform, brands can also drive true
  omnichannel engagement.

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• Customer interactions continue to expand beyond
  just visits and into many digital spaces, meaning
  loyalty now happens across a range of touch
  points. Driving customer engagement today can
  take many transactional and non-transactional
  forms including sentiment surveys, gamification,
  social feedback, referrals, etc., which are
  valuable components to modern loyalty programs.

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• The spring of 2020 also highlighted the
  importance for organizations to identify their
  customers and have the means to communicate with
  them digitally. The pandemic has created new
  circumstances and changes to daily operations for
  many businesses. Brands need the ability to
  message customers on a digital channel and in an
  appropriate tone about new procedures, updated
  business hours, temporary closures, and relevant
  or redesigned offers, as face-to-faces visits
  continue to be limited.

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• The best customer loyalty programs have responded
  to these new market conditions and look to
  develop customer relationships through
  omnichannel communications and relevant
  incentives designed to create and optimize a
  variety of interactions. With the right
  strategy, brands can quickly and easily gain
  knowledge of the tools and the system to
  successfully promote their loyalty platform to
  all stakeholders.
• The value of building a loyal following provides
  brands with multiple benefits that can extend
  their reach and differentiate them in the
  marketplace.

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Benefit 1 Loyalty Programs Keep Customers Happy

• The simple fact is that every company wants
  people to purchase their products or services. A
  loyalty program helps you reach customers through
  11 connections based on real-time data to
  deliver relevant offers over the channels they
  prefer and at the times they need them.

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• Loyalty programs that also offer added benefits
  like gamification strategies that provide
  innovative and fun ways to drive engagement
  create the additional incentive of having
  customers interact with your brand for pleasure
  as well as for savings. Customers are
  incentivized and rewarded for taking specific
  and/or multiple actions and developing new habits
  through contests, challenges, badges, and
  sweepstakes, the most important of these new
  habits being continually checking in with and
  being exposed to your brand.

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Benefit 2 Loyalty Programs Drive Growth

• A loyalty solution provides marketers with
  program tools such as omnichannel marketing and
  email signups that drive acquisitions, while
  providing every kind of customer a tailored
  program designed with relevant ways to earn and
  redeem points. Ongoing loyalty campaigns and
  offers also deliver valuable same store sales to
  help storefronts as well as eCommerce, and brand
  profitability.

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• Your eCommerce platform should offer
  personalization tools that bolster customer
  loyalty, to enable you to tailor your customers
  experiences. If it doesnt, then its time to
  begin considering a re-platform. FiOs Customer
  Loyalty Platform does exactly that. By providing
  both the data-driven power and capacity needed to
  give you a single 360-degree view of each
  customer, youre able to create deep
  personalization that will keep you competitive in
  2022 and beyond.

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Benefit 3 Loyalty Programs Provide Customer
Data

• A loyalty program provides customers with an
  opportunity to receive rewards in return for
  providing data to the companies. This allows
  brands to obtain layers of data that have been
  inaccessible until now, like first and even zero
  party data, which allows brands to learn
  information about customers such as where they
  are coming from, how frequently they visit your
  website, and which items they have browsed. By
  using loyalty program data for customer
  characteristics, demographics, buying patterns,
  and pain points, you will be able to personalize
  your offers better and use the most effective
  language and incentives that would attract
  customers.

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Benefit 4 Loyalty Programs Help You Learn Your
Customers Behaviors

• Loyalty programs provide brands the ability to
  recognize unique individuals through the layering
  of the data that starts with initial email and
  WiFi signups. Then a brand can begin to learn
  about their customers behaviors and preferences
  as they move across different devices, channels,
  and platforms in your omnichannel ecosystem.
  Understanding a customers history with your
  brand unlocks key insights that help you maximize
  value and return on marketing spend through the
  delivery of a consistent, seamless personalized
  experience. Know more 7 Ways A Customer Loyalty
  Platform Boost Brand Engagement