Loyalty Marketing Software for Building High-Value Customers
Despite the rising cost of living, shoppers are feeling generous this holiday season. On average, consumers plan to spend 8% more on holiday shopping in 2022 than they did last year. How can you make sure they choose to spend in your store?
Discount deals are one of the most popular ways to lure customers in. Black Friday and Cyber Monday deals raked in nearly $20 billion in 2021! But there’s a more effective way to draw consumers to your products.
Loyalty marketing organically encourages customers to return to your business over competitors. It monitors behavior and helps you build a relationship with your consumer base.
What is Loyalty Marketing?
Businesses that prioritize loyalty, win. Loyal customers are more likely to respond to marketing messages. Businesses that develop a loyalty strategy keep customers coming back.
However, building loyalty is a process. It requires marketing in a specific way that targets previous customers. And that’s where the software comes in.
Loyalty marketing software is a custom-built platform for your business. It analyzes data in real-time to assess what your customers want and need. Your marketing teams can then act on that data to build a loyalty marketing strategy.
This is true whether your business is in the retail or other sectors. Custom software helps marketers create the best loyalty marketing plan possible.
But how does this translate to building high-value customers?
Finding high-value customers is one of your business imperatives. The need to focus on consumers who purchase more often is crucial to any growing business.
Instead of focusing on finding high-value customers, this software lets you create them. You encourage and incentivize customers to keep purchasing from your business. That way, you build a high-value loyal consumer base unique to your business.
Loyalty Marketing Software Components
Whatever your industry, your platform should still be comprised of some key components. For it to be effective, these areas work together to deliver the best solutions possible. Here is a list of the most important features to look for in a loyalty marketing software platform.
1. Decisioning Tools
Marketing is a game of constant decision-making. As the news, season, and market changes, so must your approach to retaining customers. The experts say that consumer demands are evolving at a rate that keeping up with them is harder than ever.
Real-time decision-making software answers this problem. It anticipates the best strategy for each type of customer, as well as the best ways to put it into action. And the entire process is completely scalable.
2. Delivery Tools
Loyalty software should do more than suggest the best approach for each customer. It should integrate with delivery tools so the software itself impacts your marketing.
Delivery tools like the Kobie Alchemy Producer allow you to use delivery channels within the software. These create and deliver personalized marketing approaches for each consumer.
3. Measurement Tools
The best software measures and tracks not only your consumers but its own success. Measurement tools allow you to monitor the effectiveness of each loyalty marketing strategy.
It does this through advanced business intelligence and analytics. This approach enables the software to learn as it goes, becoming even more powerful over time. You can then use those measures of success to inform your future marketing decisions.
4. Data Cloud
For these tools to be effective, your software needs to have the capacity for vast amounts of data. More than that, the data should be stored in an accessible way.
That doesn’t just mean having a data cloud available at any time. It’s about using an intelligent database that does more than store data. Your data cloud should be actively building consumer profiles in real time that inform the rest of your software.
5. Types of Data Stored
When people think of marketing data, transactions come to mind. Software monitors when, where, how much, and how often people purchase. Online cart abandonment and returns data also come under this bubble.
But transaction data doesn’t build a complete picture. To effectively build loyal, high-value customers, you need to understand them better.
The best software combines consumers’ transactional data with emotional and behavioral data.
Emotional and behavioral data can be even more powerful than transactional data because they happen earlier in time. Transactions are the last step in the buying process. Affecting the emotional and behavioral steps ahead of transactions is the best way to influence your customers.
When you track consumer motivations and habits, your marketing becomes far more focused. You have the data to understand what each individual is looking for.
But this data would be useless without the previous four tools that show you how to use this information. With this combination at your fingertips, your teams can turn data into strategy. Then each customer receives precise marketing prompts that impact them most effectively.
Start Building High-Value Loyal Customers Today
Are you looking for a marketing solution that revolutionizes your customer loyalty? We have the loyalty marketing software to make it happen.
Kobie’s platforms currently reach over 300 million consumers. We combine strategy and technology to create seamless end-to-end solutions. A custom platform for your company can turn a one-time buyer into a high-value, loyal consumer.
Whether you work in finance, hospitality, or another sector, get in touch today to start reaping the rewards of retention. Let us show you what our tools can do for your loyalty marketing.