We outline the market outlook for loyalty management in consumer and retail – from investment trends and leading companies to recommendations for players in the space.
What is loyalty management?
Loyalty management companies provide apps, software, and web-based tools that enable brands and retailers to design, build, manage, and analyze their loyalty and reward programs.
Alongside infrastructure, these solutions can include customer data platforms (CDPs) and automated marketing tools that send personalized rewards, offers, and promotions via text and email. These companies work with retail and e-commerce brands and retailers, consumer packaged goods providers, and grocers. Some are also able to support omnichannel strategies.
Features & capabilities
Loyalty management solutions provide consumer and retail leaders with a number of capabilities, including the following:
- Dashboards to adjust offerings
- Customer data collection from all touchpoints
- Analytics and reporting
- Marketing automation
- Tagging and customer segmentation
- Integration with platforms (Clover, Square, Shopify)
Benefits
Consumer and retail leaders report substantial benefits from loyalty management solutions:
- Improved customer retention
- Enhanced customer engagement
- Higher return on investment with optimized campaigns
- Customer base expansion
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