Together, software and strategy can save struggling loyalty programs
In the highly competitive and discount-driven retail environment, loyalty programs seem like a smart solution for retaining otherwise fickle customers.
In the highly competitive and discount-driven retail environment, loyalty programs seem like a smart solution for retaining otherwise fickle customers.
But many businesses are finding that traditional loyalty programs – based on transactions and points – aren’t delivering the promised results.
Instead, engagement with the program stagnates, points liability increases and customers still shop around, switching programs based on who’s offering the most points.
The way forward, according to loyalty solution provider HTK, is to shift the focus from standalone loyalty programs to a business-wide loyalty strategy.
Shifting to a Loyalty Strategy
In this approach, the whole business works towards the goal of growing loyalty through relevant, high-quality customer experiences. A loyalty program becomes just one aspect of this experience, and it’s typically based on more than transactions alone.
To enable this approach, though, many retailers will find they need to transition away from their existing loyalty software.
Platforms designed for transactional loyalty will often struggle with siloed data, limited ways to drive engagement, a lack of ROI, or a high cost to innovate. And all of these can make pursuing a loyalty strategy trickier.
A Smooth Transition
Moving to a new platform is a time-consuming and potentially risky project. But for many retailers, it will be a necessary investment in order to keep up with customer expectations and grow true loyalty.
To help retailers manage the transition successfully, and mitigate the risks, HTK has put together a comprehensive ebook with tips and guidance for every stage of the migration process. The Ultimate Guide to Replatforming Your Loyalty Programwill help retail marketers:
- Decide whether they really need to switch to a new platform
- Consider the right factors when choosing a new vendor
- Reduce the risks of a replatforming project
If you’re considering moving your loyalty program to a new platform, this ebook will guide you through the process, from strategy to launch. Download it here.
