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Together, software and strategy can save struggling loyalty programs

In the highly competitive and discount-driven retail environment, loyalty programs seem like a smart solution for retaining otherwise fickle customers. In the highly competitive and discount-driven… View Article

RETAIL SOLUTIONS

Together, software and strategy can save struggling loyalty programs

In the highly competitive and discount-driven retail environment, loyalty programs seem like a smart solution for retaining otherwise fickle customers.

In the highly competitive and discount-driven retail environment, loyalty programs seem like a smart solution for retaining otherwise fickle customers. 

But many businesses are finding that traditional loyalty programs – based on transactions and points – aren’t delivering the promised results. 

Instead, engagement with the program stagnates, points liability increases and customers still shop around, switching programs based on who’s offering the most points. 

The way forward, according to loyalty solution provider HTK, is to shift the focus from standalone loyalty programs to a business-wide loyalty strategy. 

Shifting to a Loyalty Strategy 

In this approach, the whole business works towards the goal of growing loyalty through relevant, high-quality customer experiences. A loyalty program becomes just one aspect of this experience, and it’s typically based on more than transactions alone. 

To enable this approach, though, many retailers will find they need to transition away from their existing loyalty software. 

Platforms designed for transactional loyalty will often struggle with siloed data, limited ways to drive engagement, a lack of ROI, or a high cost to innovate. And all of these can make pursuing a loyalty strategy trickier. 

A Smooth Transition 

Moving to a new platform is a time-consuming and potentially risky project. But for many retailers, it will be a necessary investment in order to keep up with customer expectations and grow true loyalty. 

To help retailers manage the transition successfully, and mitigate the risks, HTK has put together a comprehensive ebook with tips and guidance for every stage of the migration process. The Ultimate Guide to Replatforming Your Loyalty Programwill help retail marketers:

  • Decide whether they really need to switch to a new platform
  • Consider the right factors when choosing a new vendor
  • Reduce the risks of a replatforming project 

If you’re considering moving your loyalty program to a new platform, this ebook will guide you through the process, from strategy to launch. Download it here.

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8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
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AI in Retail Conference 2019
16 October 2019
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Future of Retail Marketing 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The Future of Retail Marketing for Customer Engagement