Implementing a loyalty program that sustains and stands-out!

Businesses today are not wanting to be left behind without a loyalty program. The number of programs in the market is surging so fast that it appears to be becoming a rat race showing no symptoms of slow-down.

Given such a boisterous scenario, business leaders are concerned about two fundamental questions:

• Will my program be worthwhile?
• How to make it stand out?

The answers to the questions above lie in the ability to craft or design the program around your brand. It takes a tremendous amount of knowledge/expertise in the field, in addition to being sensitive, to cater to your exclusive needs. Putting oneself in customers’ shoes and visualizing their aspirations are critical.

A well-implemented loyalty program should fulfill some or many of the following:

• enrich customer takeaways (not just products/points)
• transform brand perception in terms of availability, quality, and serviceability
• inspire to attain higher brand-recall
• trigger a strong word of mouth/referrals
• consistent engagement with the brand
• increase recency, frequency, and monetary (RFM) factors
• uphold customer’s values and preferences

The design of a good loyalty program must provide for capitalizing on customer lifetime value (CLTV). The customer journey shall be smooth and a warm experience, as unique to your brand and your offerings. The use of appropriate technologies will further help make their touchpoints available on-demand, including loyalty-care operations. With the high adoption rate of digital technologies today more than ever, programs are now easily accessible and understood even by people who are not so tech-savvy. Such innovative programs cut across different classes of society and, to a great extent, meet their expectations tangibly.

To conclude, loyalty program is a very powerful program. Progressive organizations look up to loyalty rewards as the means, and not the end by itself. It makes complete sense to view loyalty as a mid/long-term strategic initiative rather than operational.

We make your loyalty work. Talk to us today!