The most key aspect of running a loyalty program is handling the communication that is to be done to the participants of the program. Almost all the loyalty programs handled by anybody right now rely on manual file creations and uploads to drive the communication. Automating such communication can improve the efficiency of the program by leaps and bounds apart from providing flexibility in designing better and more targeted communication.
While there are many agencies who claim to run loyalty programs, what sets apart the good agencies from the regular ones is the ability to create a perfect loyalty program depending on the target group and market scenario. But what exactly goes into creating a perfect trade loyalty program? In this post we break down the various components of the solution design of a trade loyalty program and understand their importance.
Running Rewards programs for customers or trade partners is an oft used tool for many industries. But many companies still struggle with the decision of whether to manage such campaigns in-house or to hire an external agency with subject matter expertise. In this post we look at some critical benefits offered by agencies like us in handling these programs.
Program Design is the first step of launching a Loyalty Program and is the most key step in making a program successful. The starting point for designing a Loyalty Program should always be mapping out the journey of the target audience. This approach holds for trade programs or influencer programs or consumer programs hence the term partner is used interchangeably for all of them in this post.
An ideal partner journey consists of many steps where the partner starts out from not knowing about the brand, takes an interest, takes a bet, purchases the product (or enters into an agreement), experiences it, becomes loyal, shares experience and promotes the brand further. The exact journeys for individual brands would be more nuanced and need to be accounted for.
The most challenging part of running any large Rewards program is handling the logistics of all the rewards. This is the part where an agency’s experience is most required for any company. Based on our considerable experience of managing large scale loyalty rewards programs, we have identified the following best practices in running any such programs.