The loyalty landscape is changing.
The days of simple loyalty punch cards are behind us. Immediacy and personalization are now the name of the game in the modern loyalty world where consumers expect real-time engagement – in the moment, when it matters. As a result, loyalty has evolved far past a points and rewards engine to become a full suite of sales and marketing tools that includes marketing automation, a customer data platform, CRM, customer engagement, analytics, and more.
The slew of shifts in loyalty programs spans across all industries. One-size-fits-all programs are being replaced by unique customer experiences. The need for more reliable data (direct from the consumer) is clearer than ever. Whether you’re in the restaurant industry, retail, hospitality, or something else entirely, programs are moving from transactional to experiential.
With the rate of digital transformation and competition for loyalty increasing every day, keeping your program up to scratch can feel like an impossible task. Merely knowing where you stand in the grand scheme of loyalty programs is a challenge in and of itself.
That’s why it’s important for brands to know how to identify the strengths and weaknesses of their program in the areas that are most critical to a modern loyalty program such as:
Sign-up – Does your system allow members to sign up in-store, online, on mobile, and via SMS text?
Personalization – Does your system allow you to use member profile and activity histories to personalize all member experiences in real time?
Analytics – Does your loyalty system include a visual designer to create custom analytical reports and dashboards for your brand.
These are just a few of the categories and features to review when assessing how your loyalty program stacks up.
Bottom Line: Static, impersonal approaches to loyalty won’t cut it anymore. Modern loyalty programs are building deeper connections with customers through personalized experiences, which translates to deeper insights for companies with smart solutions in place.
So, is your loyalty program making the grade?
The Essential Guide to Modern Loyalty Programs will help you learn how to navigate the changing loyalty landscape and quickly gauge how your program stacks up in this very competitive space with the Loyalty Report Card. Get your copy here:
To get started checking all the boxes for a modern loyalty program with truly stellar results, contact us at stellarloyalty.com or schedule a meeting here.