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1. 7 Ways A Customer Loyalty Platform
Boost Brand Engagement

3. 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 doesn’t deliver ROI.

4. 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, it’s
clear that loyalty needs to be delivered strategically. One-off mass
promotions that miss the mark for 80 percent of a brand’s 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.

5. 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 1:1 connection.

6. 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 FiO’s Customer
Loyalty Platform, brands can also drive true omnichannel
engagement.

7. 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.

8. 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.

9. 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.

10. 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 1:1 connections based on real-time data to deliver relevant
offers over the channels they prefer and at the times they need them.

11. 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.

12. 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.

13. Your eCommerce platform should offer personalization tools that
bolster customer loyalty, to enable you to tailor your customers’
experiences. If it doesn’t, then it’s time to begin considering a re-
platform. FiO’s 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, you’re able to create
deep personalization that will keep you competitive in 2022 and
beyond.

14. 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.

15. 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 customer’s 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