Every business uses (or needs to use) a loyalty program to build brand loyalty as part of a marketing strategy. Building loyalty is important because according to a study by Harvard Business Review acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. More surveys show that:
- Increasing customer retention by 5% can increase profits from 25-95%.
- The success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%.
Thanks to the advent of marketing automation, there are a lot of ready-to-use Softwares as a Service (SaaS) based products that help you build and manage excellent customer loyalty programs to make your vision true and reward your customers the right way. But the changing dynamics of consumer preferences due to the advent of the COVID-19 pandemic has tested the strength and innovativeness of every customer loyalty program and the flexibility of the software that manages it. Hence, let us understand the 5 best CRM and Enterprise loyalty Platforms for 2022.
1. Advantages of loyalty program software
While there are many unsaid benefits of using software or a platform to manage your loyalty program, let us have a quick look at a few major benefits.
1.1. Replace Cards with Apps and mobile numbers
The software gives us the flexibility to go headless and manage a customer’s loyalty points using a mobile app or website. This means a customer can say goodbye to physical cards that are either lost, misplaced, damaged, and more importantly forgotten when you need them the most. This ensures maximum convenience and minimum intervention.
1.2. Flexibility and customization
Software is very flexible to mold, upgrade and change your rewards programs according to your brand partners, changing the needs of customers and expanding segment landscapes. It also allows you to set up multiple programs, rewards, reward structures and update the terms and conditions based on the laws of the state.
Many platforms have built-in intelligence and learning that can understand individual customers’ preferences and behaviors to give them the right choices based on them.
The major benefit by far is the ease of distribution, updating, and scalability a software offers at an individual level. These include simple gestures such as sharing birthday greetings to complex sales actions such as giving customized coupons to cross-sell complementary products. All this by saving you a lot of effort, time, and overall costs.
2. 5 Best CRM & Enterprise Loyalty Platform
2022 will be a special year for every company because if things go right, they might get a chance to meet their customers in person after a very long wait caused due to the COVID pandemic. That said, companies cannot do away with the convenience that came in place due to the pandemic. Hence, a loyalty platform should have the capability, flexibility, and intuition to adapt to those needs. This is exactly the reason why we have put together this list of the 5 best CRM Loyalty Platforms for your enterprise for 2022.
2.1. Open Loyalty
Open Loyalty is the most popular and trusted Headless Loyalty Platform. It has a flexible set of loyalty blocks to build personalized loyalty programs. It takes an API-first approach and has more than 50 pre-built loyalty mechanics (eg. points, tiers, rewards, coupons, referrals) to bring your vision to life. With help of them, you can quickly introduce rewarding loyalty programs with your brand-specific user experience at any touchpoint. Open Loyalty has built-in elastic loyalty program tools that give developers the freedom to integrate it with other platforms and guarantee cost-effective scalability.
Open Loyalty is available both as SaaS and On-premise editions that can be deployed depending on the scale of your program and organization. This makes it a go-to platform for organizations of every size and sector such as retail, finance, insurance, travel, convenience, restaurants, FMCG, fuel, automotive, or B2B.
Ascentis CRM solution integrates easily existing POS systems or other customer acquisition channels. This facilitates brands to easily identify, capture and collect customer information. With the power of this consolidated data collected from various touchpoints, you can gather insights to satisfy, impress and re-engage not just the loyal customers but customers from every stage of their journey.
Ascentis allows you to engage your customers in real-time with the help of targeted personalized communications through various channels including email, mobile, social media, and more. Executives get a unified customer view of the customers that can offer amazing insights to help you use the preferred tools to engage methods to drive not just sales and loyalty but also brand advocacy.
Ascentis has a wide range of APIs available, that allow integration with existing applications to give you that single, unified view to be part of every customer’s journey, and engage them at every step.
Talon.One was founded in 2015 by people who understand disruptive marketing. One has evolved into the premier promotion engine for growing companies and businesses. Ticketmaster, National Express, Just Eat, JD Sports, and other companies around the world count on it. Marketers and developers alike adore the product we’ve created.
Talon.One is a sophisticated Promotion Engine that allows you to create targeted, personalized marketing and sales promotions based on your customer and session data. All discounts, coupon codes, referrals, loyalty, and product bundles can be created, managed, and tracked in one place. Once you’ve integrated with Talon.One, you’ll be able to personalize promos using the Campaign Manager UI and use the extensive API to get real-time access to any data related to your business.
With Talon.One, you’ll have the flexibility to customize promotions through the Campaign Manager UI and access any data linked to your businesses in real-time through the robust API. By executing highly targeted and personalized promotional programs with Talon.One, you can increase consumer engagement, expand your brand, and reduce promotional spend.
Birdeye is an all-in-one Experience Marketing platform for multi-location businesses. Every day, more than 60,000 businesses of all sizes use Birdeye to be found online and chosen through listings, reviews, and referrals; engage with leads and customers on the channels of their choice; and provide the best customer experience possible with survey, ticketing, and insights tools.
Birdeye, which was founded in 2012 and is based in Palo Alto, is led by Google, Amazon, Salesforce, and Yahoo alumni. Salesforce founder Marc Benioff, Yahoo co-founder Jerry Yang, Trinity Ventures, and World Innovation Lab are all investors in Birdeye.
Influitive helps organizations to build the most engaging customer communities. This easy-to-use platform is the combination of top-notch customer advocacy tools, intelligent automation based training, expert services, gamification, and personalized features drives big scale engagement, whilst cutting-down the administrative efforts and time spent. The customer advocates drive a higher rate of engagement and positive interactions with customers through creating and sharing enriching content. Integrating with CRM and marketing automation platforms, members can easily visualize the activity, get reports and review ROI.
The members can complete challenges, do referrals and product reviews and earn points and badges that can be redeemed as professional perks and privileges. Top organizations in the likes of ADP, Adobe, Cisco, and IBM rely on Influitive for fostering collaboration and building trustful relationships with their customers.
Customer loyalty, as we know it, will change in 2022 because customer preferences and habits will change drastically due the experiences they have faced during the pandemic year with forced lockdowns. Brands need to stay flexible and on their toes as it’s extremely important to adapt to the new normal in the post-pandemic world. A reliable software development partner such as Kyanon Digital can help keep your loyalty program on track with your customer preferences. We are authorized solution partners for Open Loyalty, Ascentis, Talon.One and also have a truly capable team that can build a loyalty platform that meets global standards from scratch if required.
Drop us a line to understand the best CRM & Enterprise Loyalty For Platform that can guide you through 2022 and beyond.