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Webinar Choose The Right Provider For Your Customer Loyalty Strategy

Webinar Choose The Right Provider For Your Customer Loyalty Strategy. Emily Collins, Analyst September 9, 2014. Call in at 12:55 p.m. Eastern time. @ecollins. What’s the difference between Vendor Y and Vendor Z?. I want to mobilize my loyalty program but don’t know where to turn.

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Webinar Choose The Right Provider For Your Customer Loyalty Strategy

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  1. WebinarChoose The Right Provider For Your Customer Loyalty Strategy Emily Collins, Analyst September 9, 2014. Call in at 12:55 p.m. Eastern time @ecollins

  2. What’s the difference between Vendor Y and Vendor Z? I want to mobilize my loyalty program but don’t know where to turn. Service provider or technology platform? Who can help me with my loyalty strategy?

  3. Agenda • Many strategic paths lead to customer loyalty. • Cut through the loyalty landscape clutter. • Selecting the right loyalty partner

  4. Agenda • Many strategic paths lead to customer loyalty. • Cut through the loyalty landscape clutter. • Selecting the right loyalty partner

  5. “Loyalty” is multifaceted and complex Rational Emotional “I get more points.” “I like the brand.” “I trust the brand.” “It’s close to my house.” “It’s convenient to shop.” Loyalty “The price is reasonable.” “I want to share it.” “I like how I feel when I use the brand.” “The product addresses my needs.”

  6. Companies take two, often overlapping, approaches Structured loyalty Unstructured loyalty

  7. The loyalty landscape casts a wide net Source: July 31, 2014, “Navigate The Complex Customer Loyalty Ecosystem” Forrester report

  8. Agenda • Many strategic paths lead to customer loyalty. • Cut through the loyalty landscape clutter. • Selecting the right loyalty partner

  9. Loyalty vendors offer one or more competencies Strategy: the research, planning, and design of loyalty initiatives and programs Marketing: the execution of loyalty initiatives across channels Management: the back-end orchestration of loyalty initiatives and programs

  10. Native and complementary providers deliver loyalty through tech and services Source: July 31, 2014, “Navigate The Complex Customer Loyalty Ecosystem” Forrester report

  11. Technology-led providers “Do it yourself” loyalty solutions

  12. Native providers Loyalty platforms Self-service, end-to-end loyalty program management technology

  13. Complementary providers Gamification platforms Support the gamification of loyalty programs through behavioral tagging, business rules management, and rewarding for engagement.

  14. Complementary providers Marketing and analyticstechnology platforms Deliver loyalty program modules as part of a larger marketing suite.

  15. C Complementary providers Mobile marketing platforms Mobilize loyalty programs, deliver mobile offers and content, and integrate with mobile wallets.

  16. C Complementary providers POS providers and paymentprocessors Provide integrated earn-and-burn point solutions as part of a larger transaction and payments processing suite.

  17. Services-led providers “Do it for you” loyalty solutions

  18. Native providers Loyalty agencies andconsultancies Offer loyalty-specific strategic consulting to help companies conduct market research, develop strategies, build programs, and select execution partners.

  19. N Native providers Loyalty service providers Deliver a full suite of tools, partners, and services to support loyalty programs and loyalty marketing. Services include strategy and design, campaign and offer management, segmentation and analytics, fulfillment, and operational support.

  20. N Native providers Turnkey loyalty solutions White label, plug-and-play, loyalty, and merchant-funded programs

  21. C Complementary providers Agencies Often provide unstructured loyalty strategy and campaign development and support

  22. Complementary providers BPO services and systemintegrators Provide loyalty technology integration, implementation, and operations services.

  23. Complementary providers Earn-and-burn solutions Offer additional ways for members to earn points through mail networks or loyalty currency commerce and redeem points through gift cards, travel rewards, or physical merchandise warehouses.

  24. Complementary providers Management consultants Provide strategy, loyalty research, change management services, and business technology consulting.

  25. Complementary providers Marketing and analyticsservice providers Support loyalty marketing through analytics and insights development, database hosting and support, and strategy services.

  26. Complementary providers Promotions and offersproviders Source and deliver various member incentives, including coupons, sweepstakes, card-linked offers, and merchant-funded offers.

  27. Agenda • Many strategic paths lead to customer loyalty. • Cut through the loyalty landscape clutter. • Selecting the right loyalty partner

  28. Instead, start your search by answering three key questions What is your loyalty approach? Where does customer loyalty sit within your organization? What resources are available to support loyalty?

  29. Define your business objectives and requirements Source: October 3, 2013, “The State Of Loyalty Programs 2013” Forrester report

  30. Create your vendor list Map your requirements to the core loyalty vendor capabilities: strategy, management, and marketing. Determine whether you are looking for technology and/or service-based support. Narrow down your list of potential partners based on vendor capabilities and delivery mode.

  31. Issue your request for proposal (RFP) Identify and disclose your key selection factors. Ask open-ended questions. Use presentations to make the final selection. Avoid making a “gut reaction” selection.

  32. Recent loyalty research July 31, 2014, “Navigate The Complex Customer Loyalty Ecosystem” June 17, 2014, “Advance Your Approach To Customer Loyalty” October 30, 2013, “The Forrester Wave™: Loyalty Program Service Providers, Q4 2013” For all other loyalty-related research, check out The Customer Loyalty Playbook.

  33. Questions?

  34. Emily Collins +1 617.613.6686 ecollins@forrester.com

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