What are Five Must-Have Features in A Loyalty Management Solution?| Diksha Technologies
Retaining customers is the biggest challenge faced by most consumer-driven businesses today. In order to reduce customer churn rate, a comprehensive marketing strategy is imperative for organizations. Having said so, it is not only enough to have a strategy. It has to be backed by reliable implementation tools like a Loyalty Management solution.
What are the main objectives of a Loyalty Management System?
Drive Customer Loyalty
Build Strong Relationships with customers
Increase Brand Recall
Vantage over Competition
Build Relationship with Partners
Build an effective relationship with Partners
Delightful Customer Offers from Partners
More Customer at a Low Cost
Personalized Content, Bespoke Offers
Low Cost of Customer Acquisition
Detailed Data Analytics for effective campaigns
One of the biggest mistakes that brands do is bombard their customers with irrelevant mass-offers almost all day long. To win their attention, brand communication needs to engage with consumers on a personal level and make them feel special. Achieving this is not difficult:
Organize and analyze your customer data
Deliver your customers’ desire at the right time
Offer incentives based on the customer’s buying trends
Following are the must-have features that a Loyalty Management Solution must have:
Integration with your CRM Database:
An LMS should always be integrated with your CRM database for understanding your customer better and creating meaningful marketing strategies.
Dynamic Segmentation:
Your loyalty solution must have provision for creating dynamic customer segments based on various advanced filters, such as cart activity, cart content, the gender of the customer, location, etc.
Multiple Reward Schemes
The solution should be able to provide numerous reward plans to fit in your unique customer segments and business objectives. Rewards could be in the form of redeemable points, offers, and discounts, freebies, etc.
Developer Friendly API
An omnichannel approach is one of the pre-requisites of good loyalty management software. Developer-friendly API and with detailed documentation will help to build a solution that is easy to integrate and ensure a shorter time to market.
Self-Service
For any organization, customer support for its loyalty programs is a big deal. The software must have self-service solutions like chatbots or customer support portals, which will make handling and processing of queries semi-automated and faster.
What are the benefits of having a Loyalty Management Software in place?
Elevated Customer Experience & Reduced Acquisition Costs:
Provides existing and new customers with personalized offers to enable higher acquisition at a minimal cost
Detailed Customer Insights
Artificial Intelligence and Machine Learning enabled platform which understands your customer’s behavior and helps you engage them accordingly
Embedded Gamification
Engage and gratify engaged customers with fun games and engagement programs
Real-Time Efficiency
Reach out to your customers through multiple channels at the same time without intrusion
Convenient and Scalability
Run numerous Loyalty Management programs through a single platform
Raised Brand Awareness
Establish a stronger brand recall by engaging with your customers effectively
WHO CAN BENEFIT AND HOW?
A loyalty program gives direct access to customers, making communication more accessible and more effective
- The entire marketing effort will be targeted and thus more effective
- The data can be used for up-selling and cross-selling purposes
- There is a direct impact on the bottom line, and the profit margins receive a boost
To know more about Diksha Loyalty Management Solution, write to us at connect@dikshatech.com
For more information visit: https://www.dikshatech.com/platforms/loyalty_management/
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