Loyalty Program Trend Analysis
Customer loyalty programs are not a new concept; rewarding or incentivize customers for shopping is followed by all businesses. The trends in the loyalty program keep evolving to fit in the current society.
Here is an interesting look into the trends:
Customer Experiences
The customer experience will determine the success of the loyalty program. Great customer experience translates to successful loyalty programs.
Customers are willing to pay more for services if loyalty programs support charity. Thus, social corporate responsibility is a vital role in the success of loyalty programs.
Omnichannel: Personalizing Customer Experience
The Omnichannel strategy combines technology with customers’ personal experiences to deliver relevant and compelling offers. The offers are made at the exact right times to promote repeated customer visits. It delivers an improved personalized experience as desired by the customers.
Online retailers are using omnichannel in a bid to improve customer experience. It is helping businesses to implement effective and efficient marketing strategy.
Over 50% of customers have a desire to be recognized as the same customer across multiple shopping platforms — both at the stores or online.
Also, 75% are open to having their information used by retailers, with the prospect to receive personalized shopping experiences.
Involvement of Small & Medium Enterprises
Traditionally, loyalty programs have been only centered to involve the larger stores like supermarkets. But, current studies of the markets and online stores show that there is a shift.
More small and medium enterprises are exploiting loyalty programs. It is an attempt to keep customers happy and faithful. Besides, the loyalty programs are helping businesses to grow the customer base by means of promotions.
Blockchain Entry in Loyalty
2017, was the year of blockchain. Every technology enthusiast was out to study the new developments that involved blockchain.
The slightest of thoughts of a decentralized and trustless community in every sector is phenomenal. Loyalty programs have not been left behind. Now, Dewber enters the blockchain based loyalty sector.
Blockchain based loyalty programs are now seen as the future of loyalty. They reduce the cost, are secure, and provide a real time experience.
Loyalty programs have a fantastic future and the application of Dewber by retailers will guarantee that everyone is going to benefit from this development.
Customers would love loyalty programs that make their personal experiences exciting. Also, the loyalty programs will go beyond the large enterprises and involve the SMEs.
Besides, the loyalty program will see a growth in the blockchain involvement. Dewber, being an early bird in this field is shaping the future of loyalty programs.