What you should expect from a loyalty program in 2021
We're half-way through 2021 now - and things are beginning to look more optimistic.
Was 2020 the pilot episode for a roller-coaster of a decade? Or did we get all the drama for the decade out of the way early on, so we can all now focus on achieving great things?
Only time will tell, but when it comes to customer loyalty, there are a few things we should expect from the coming decade…
2021 offers more loyal customers to all businesses
Why should the multinational corporate giants be the only companies able to run active, profitable, useful loyalty programs?
Why do you need to have a marketing department of hundreds of people, that take up several floors of a sky-scraper, in order to reward your customers?
Today, companies of all sizes and shapes should have access to loyalty programs. That way, their customers can also collect points with purchases, and earn rewards.
After all, customer retention - and all of the positive consequences associated with it - are vitally important to every business.
Enhanced data collection
Data-collection is another increasingly important part of doing business in the 2020s.
For a long time, it was only the big-players who had the means and capabilities to collect meaningful data on the customers - but that’s changed recently.
Now, webstore owners can collect huge amounts of data about their customers relatively easily. They can also see this data, visualised on an intuitive dashboard, quickly and easily.
The only group that are left out are the small and medium sized companies with physical locations. While even they can take advantage of smart POS systems - they are going to need more detailed data collection methods if they’re going to compete effectively.
Back in the early days of the web, a lot of digital prophets speculated that marketing would become easier and more affordable for all companies.
Well, the prophets were both right... and wrong. Today there are so many more communication channels, with social media, SEO, SEA, as well as the traditional channels. Audience groups have never been more segmented and difficult to reach.
Once again, if you’re a huge corporate, and you can afford to hire a small army of marketeers, this isn’t a problem. However for the vast majority of companies out there, it’s a case of trying to the best you can with the resources available.
Then there’s the time sink. In order to put together an effective marketing campaign, even a basic one, you’re going to be looking at many, many hours of learning, building, analysing and refining.
Not adding to the head-count
Wouldn’t it be nice to be able to run a loyalty program without hiring the so-called “loyalty experts”? Of course it would, but they’re usually just the beginning.
Some loyalty initiatives require you to hire designers to create the identity and all of the collateral. Then there’s production of said collateral, which requires more people, printing, and costs.
You’ll also have to hire a few new customer-service people to manage the inevitable questions from customers, as well as training your existing team on how the new program works.
Then there’s the data. To make the most of it, you’ll need data analysts - and possibly a customer data-base expert too.
And what’s that? You’d like to develop an app too? Well, now you're looking at developers, testers, digital designers - just to get started. You’ll also need some experienced tech guys for maintenance - and even more customer service staff.
In 2021 you should be able to offer an effective loyalty program without hiring dozens of people.
Setting and changing the rewards you offer
One of the most important elements of any loyalty program are the rewards that incentivise customers to keep returning, and keep spending.
However the majority of existing loyalty programs don’t let you experiment with the rewards you’re offering.
In 2021, why is it not possible to easily change rewards at the touch of a button, so that you can offer seasonal rewards during festive seasons, or use rewards as a way of getting rid of excess stock?
How on earth are you going to find a loyalty program that offers all of this?
Well, the answer is simple. Instead of a loyalty program, you need a loyalty platform.
And the good news? It’s only 2021 and a loyalty platform offering everything we’ve mentioned already exists.
This loyalty platform offers:
- Easily customisable rewards - and total control over them
- Free presence on the established app
- Millions of existing customers
- A loyalty network of thousands of merchants
- No need for extra hires
- Easy, quick onboarding
- Automatic data collection
- Approachable business dashboard
- Easy marketing campaigns
- Triggered email campaigns
… all for a surprisingly low monthly cost.
The loyalty platform we’re describing is called Piggy. And you can find out more about it here.
With just a few clicks, your business could be building loyalty and enjoying the benefits for the rest of the 2020s... and beyond.