Congratulations! You’ve likely come across this page, because you are considering a Customer Loyalty Program for your company and are searching for the right Customer Retention and Loyalty Software.

A very wise decision! The advantages of Loyalty Reward Programs fueled by the right tech stack, are immense – if you know how to unlock them!

This is precisely the reason why we have poured our decades of experience in the Loyalty Industry into a winning formular for success: The Loyalty 007 formula!

Our Customer Retention Software – Your Personal ‘Loyalty 007’:

You might’ve heard a bit of buzz about the advantages of loyalty reward programs for your business. But what exactly are these advantages and how can you unlock them for your company?

We have condensed the answer into one easy-to-remember formula: The Loyalty 007 formula, that summarizes the 7 key advantages of Loyalty Programs for you. And the best part? This formula is already built into our award-winning Customer Retention Software ‘Prime Cloud’ as a blueprint for you to unlock!

Ready to learn more about how the advantages of Loyalty Reward Programs work, the methods you can use make them a reality, and the Customer Retention Software Features you need to power them within your business?

Then read on!

“Loyalty 007”? Why a Secret Service Agent Has Inspired the Name of Our Formula

Readily built into Prime Cloud, the Loyalty 007 Formula borrows its name from no other than a superhero that has inspired a fiercely loyal fan base across the globe for decades: James Bond 😉.

The Agent 007 is known for his invincible spirit, smart tactics, high tech weapons and heroic deeds. He knows exactly what he wants and achieves that no matter how tough the challenge.

With the same invincible spirit, Prime Cloud delivers the tool set you need to drive your marketing and business goals to new levels of success. Consider it your personal ‘weapon’ to deeply understand and successfully drive customer behavior, outshine your competitors, and grow your top and bottom line.

Curious to find out how? We have got the answers!

Advantages of Loyalty Reward Programs

The 7 Advantages of Loyalty Programs Powered by Our Customer Retention Software Prime Cloud

Your Goal:

You want to gain a comprehensive understanding of your customers in order to succeed in today’s immense levels of market competition. You need to learn what makes your customers tick, how to continually satisfy them in a way that’s superior to your competitors, and how to incentivize your customers to drive certain behaviors that are valuable for both them and your business.

Advantages of loyalty reward programs How to Achieve It With a Loyalty Program Powered by Prime Cloud

The first key benefit of the Loyalty 007 Formula powered by Prime Cloud is to help you unlock the deep insight that you’re looking for, something we refer to as having a 360° view of your customers.

With our Customer Loyalty and Retention Software in place and a well-structured Loyalty Program design, you have the power to collect comprehensive customer data and act on it to drive your individual marketing and business goals. Here is how:

RICH DATA COLLECTION

  • With a Loyalty Program powered by Prime Cloud you motivate your customers to opt-in to data collection and usage for marketing purposes, as they receive the benefits of your Loyalty Program in return (especially relevant in regions with data privacy laws).
  • You motivate your customers to identify themselves with their Program identifier (such as their loyalty account number or card) at each interaction with your brand by making this the prerequisite to receive their rewards & incentives.
  • You use our Customer Retention Management Software to track the desired customer behavior.
  • You incentivize your customers to share additional personal profile details and to take part in surveys and customer focus groups to extend your understanding of their motivations and needs even further.
  • You accumulate all these data points into a highly relevant 360° view on your customers.

DATA USAGE FOR HIGHLY EFFETIVE MARKETING (across the 4 Ps)

And then? Time for action! Here are some examples of how you can make use of the treasure chest of 360° customer data with the help of our Customer Retention Software Prime Cloud:

  • Identify your high-value customers to focus marketing spend on where it delivers the highest ROI.
  • Identify customers with a high propensity to churn and win them back with targeted campaigns.
  • Identify customers that have a high converting probability for up- and cross-sell campaigns – and deliver successful promotions to drive incremental revenues!
  • Use rich customer data to personalize communication – making it highly relevant and successful.
  • Use data on spending patterns and shopping cart analysis to optimize your pricing strategy and category management.
  • Use customer feedback for the continuous optimization of your customer experience and innovation processes.

The Key Customer Loyalty and Retention Software Features that Empower #001:

  • Advantages of loyalty reward programs Loyalty Program Design Configuration & Set-Up: Custom Data Structures
  • Advantages of loyalty reward programs Loyalty Program Member Management
  • Advantages of loyalty reward programs 360° Customer Behavior Tracking & Incentivizing
  • Advantages of loyalty reward programs Loyalty Marketing Suite
  • Advantages of loyalty reward programs Reporting & BI
  • Advantages of loyalty reward programsLoyalty Program Admin & Management

Your Goal:

You want to stay at the forefront of your customers’ minds (and hearts) in a positive manner so that they continually give you a share of their wallet, happily refer your brand to peers, and also share feedback back with you on how to optimize your customer experience. And of course you would like to do so in a cost-effective manner.

How to Achieve It With a Loyalty Program Powered by Prime Cloud

This is where the second advantage of Loyalty Reward Programs powered by Prime Cloud comes in: Number #002 of our Loyalty 007 Formula empowers you to build direct communication channels with your customers and keep them engaged with positive, personalized Loyalty Program communications.

This is a great benefit especially for companies that:

  • Currently do not have any direct communication channel established with their buyers yet (example: brick & mortar retail and manufactures that work with distributors in a multi-tier sales structure).
  • Do have some direct communication channels established but want to optimize these via personalized, data-driven communication methods.

So how does this work in detail?

1. Program-Membership:

A strong benefits package convinces your customer to enroll in your program, share their direct contact details (such as their email address), and to opt-in to data collection and usage – making one-to-one communication a reality.

2. Communication Channels:

You now have the contact data from your customers and can build direct communication channels with them: whether by email, via your other digital channels (your website or app) or via occasional white mailings.

3. Status Level & Segmentation:

Using 360° customer data you segment your customers based on suitable attributes and speak to these customer groups (or status levels) individually.

4. Personalization:

You personalize communication based on the interests and needs of your customers making it highly relevant and fostering an emotional connection to your brand.

5. Positive Communication Reasons (“Springboards”):

Your Loyalty Program powered by Prime Cloud delivers a plethora of positive reasons to regularly connect with your customers. For example, you can congratulate them on newly acquired benefits, inform them of a reward that will be available very soon (such as with the next booking or purchase), or surprise them with a gift on their birthday.

6. Targeted Promotions and Campaigns:

Prime Cloud also gives you access to an additional and highly effective form of personalized communication: promotional campaigns. With our Promotion Engine, you leverage 360° customer data to run targeted promotions that incentivize your desired (transactional and non-transactional) behavior in relevant customer segments.

The Key Customer Loyalty and Retention Software Features that Empower #002:

  • Loyalty Program Member Management
  • 360° Customer Behavior Tracking & Incentivizing
  • Rich Loyalty Program Types
  • Loyalty Marketing Suite
  • Reporting & BI
  • Loyalty Program Admin & Management

Your Goal:

You want to make your customer experience an amazing and highly rewarding one. You want to delight your customers along their complete customer journey with you to provide them with the much-needed reason to choose you over your competitors – time and again!

How to Achieve It With a Loyalty Program Powered by Prime Cloud

The third part of our Loyalty 007 Formula empowers you to do just that! With our Customer Retention Software, you have a plethora of effective tools on hand that allow you to reward your customers and make them feel amazing about being loyal to your brand. And you are able to do so in a way that’s profitable for your business!

Here is how:

1. Targeted Incentivizing:

With Prime Cloud, you can easily configure which customer behavior types you would like to reward. In this way you can profitably incentivize and foster exactly the behavior that you seek. This spans transactions of course but also other valuable interactions that your members have with your brand along their customer journey with you (for example on social media or when referring your brand, see Loyalty Formula #006 for details).

2. Rich Rewarding Options:

Our Customer Retention Software gives you access to a whole bouquet of exciting rewarding options that include:

  • Virtual currency (such as points or miles) earn functionality
  • Virtual currency redemption functionality such as pay-with-points, donate points, gift points
  • Physical & digital rewards
  • Experiential rewards
  • Vouchers
  • Benefits
  • Gamified Incentives
  • Surprises
  • Cashback

The result? Your customers do not only benefit from your great products and services, but they also benefit from a highly rewarding loyalty experience that keeps them coming back for more!

The Key Customer Loyalty and Retention Software Features that Empower #003:

  • Loyalty Program Member Management
  • 360° Customer Behavior Tracking & Incentivizing
  • Rich Loyalty Program Types
  • Loyalty Marketing Suite
  • Reporting & BI
  • Loyalty Program Admin & Management

Your Goal:

As the basis of any great marketing 1×1, you want to deliver compelling USPs (unique selling propositions), meaning convincing reasons why customers should choose you over your competition.

With an ever-increasing level of competitive pressure, delivering on this key marketing foundation is, of course, a highly challenging task.

How to Achieve It With a Loyalty Program Powered by Prime Cloud

The fourth key advantage of the Loyalty 007 Formula powered by our leading Customer Retention Software is to give you access to a plethora of tools to truly stand out from your competition, helping you build on that essential USP you need so urgently.

Here are some examples:

  • Value-Add:

    With a Loyalty Program powered by Prime Cloud, your members do not only benefit from your products and services, but they also receive appreciation for their loyalty in the form of great rewards and recognition (Loyalty Formula #003).

  • A Loyalty Experience That Stands Out:

    Our Customer Retention Software offers rich options for Loyalty Program types and incentive types, as well as offers comprehensive configuration capabilities. These combined elements enable you to deliver a Loyalty Program that truly turns heads and outshines your competition.

  • Appreciation & Engagement:

    With a Loyalty Program powered by Prime Cloud, your members feel appreciated, understood, and valued: they are engaged with personalized communication, they are allowed to actively co-create your brand, and you go the extra mile to listen to their feedback. (Loyalty Formula #001 and #002).

  • Belonging:

    Your Loyalty Program empowers you to give your members the valuable feeling of being part of a special brand tribe or community club, which greatly fosters emotional loyalty.

The Key Customer Loyalty and Retention Software Features that Empower #004:

  • Loyalty Program Member Management
  • 360° Customer Behavior Tracking & Incentivizing
  • Rich Loyalty Program Types
  • Loyalty Marketing Suite
  • Reporting & BI
  • Loyalty Program Admin & Management

Your Goal:

You know how important customer retention is for the financial success of your company. This is why you want to systematically work towards retaining your customers – in a way that’s profitable to your business.

“Mature brands derive over 85% of their growth from their most loyal customers.”

KPMG International | 2019 Customer Loyalty Survey

“It costs 5 times more to win a new customer than to keep an existing customer.”

Harvard Business Review | Fred Reichheld | Author & Inventor of Net Promoter Score

How to Achieve It With a Loyalty Program Powered by Prime Cloud

By systematically putting our Loyalty Formula ingredients #001-#004 into action, you successfully drive one of the keys to your business success: customer retention.

In a nutshell:

  • With a Rewards Program powered by Prime Cloud, you unlock a deep understanding of your customers based on 360° data.
  • You use this insight to deliver highly relevant value add and clarify your USPs to your customers.
  • You engage your members with personalized communication.
  • You make your members feel highly valued, appreciated, and satisfied by being loyal to your brand.

But not only that. With a Loyalty Program powered by Prime Cloud, you are able to drive customer loyalty in manner that is profitable to your business:

  • With Prime Cloud as your Customer Retention Software, you can identify the most valuable customers and invest more of your efforts in them to deliver on your ROI.
  • With Prime Cloud, you can define exactly which customer behavior types are of value to your business and focus on incentivizing these.
  • With numerous automations available, you can set up an engine that drives the customer loyalty you seek without requiring unnecessary manual work that wastes money and resources.

The Key Customer Loyalty and Retention Software Features that Empower #005:

  • Loyalty Program Design Configuration & Set-Up
  • Loyalty Program Member Management
  • 360° Customer Behavior Tracking & Incentivizing
  • Rich Loyalty Program Types
  • Loyalty Marketing Suite
  • Reporting & BI
  • Loyalty Program Admin & Management

Your Goal:

You know which customer behavior will propel your business forward. This spans not only transactional but also non-transactional behavior types, such as brand referrals and inspiring your customers to actively co-create a strong brand. You now want a reliable tool to successfully incentivize your customers to behave in exactly those ways that are beneficial for your business.

How to Achieve It With a Loyalty Program Powered by Prime Cloud

With Prime Cloud as your Customer Retention Software, you unlock access to an efficient tool set to help you do just that. You can decide which customer behavior types you would like to drive and do so by incentivizing them with a rich tool set of effective reward mechanisms.

The result? You sustainably push all 5 dimensions of customer loyalty that are key to business success in today’s highly competitive markets:

  1. Transactional Loyalty:

    Increase repurchase rates, basket sizes, purchase frequency, upselling, cross-selling, and customer lifetime value.

  2. Social & Advocacy Loyalty:

    Drive member referrals, positive activities on social media (such as likes, shares, mentions), or sharing product reviews.

  3. Brand Engagement Loyalty:

    Increase website visits, opt-ins to your communication channels, app downloads, participation in brand events, and more.

  4. Intimacy Loyalty:

    This means getting to know your customers deeply, including 360° customer behavior tracking, encouraging the sharing of personal profile data, and participation in customer surveys or focus groups.

  5. Emotional Loyalty:

    The final key loyalty dimension is the emotional one: Do your customers feel a fond appreciation and connection to your brand? Are they brand fans that as a result love being loyal to you and happily recommend you to others? This dimension can be measured by KPIs such as customer satisfaction rates and Net Promoter Score (NPS).

Now which tools will help you succeed with the above? Basically, all of the Loyalty 007 components described above. In a nutshell:

  • Incentivize spend volume and frequency as well as advocacy & brand engagement loyalty with highly effective reward mechanisms such as points, tiers, benefits, and targeted promotions.
  • Drive emotional loyalty with “surprise & delight mechanisms”, gamification, a community feel, personalized communication, and more.

The Key Customer Loyalty and Retention Software Features that Empower #006:

  • Loyalty Program Design Configuration & Set-Up
  • Loyalty Program Member Management
  • 360° Customer Behavior Tracking & Incentivizing
  • Rich Loyalty Program Types
  • Loyalty Marketing Suite
  • Reporting & BI
  • Loyalty Program Admin & Management

Your Goal:

All of the above goals and advantages of Loyalty Reward Programs culminate into one overriding goal: sustainably growing your top and bottom line.

How to Achieve It With a Loyalty Program Powered by Prime Cloud

Now how does a Loyalty Program, powered by the right Customer Retention Software, help you do do just that? Here are a few examples:

Deliver a High Marketing ROI Through Data-Based Loyalty Marketing:

Leading consulting and analyst firms have repeatedly proven the ”holy grail“ of customer loyalty for your growth and business profitability: the cost of acquiring new customers typically surpasses the cost of retaining existing customers by far. In fact, increasing your customer retention rate by just 5%, can increase your profits by 5-95%!

A Loyalty Program powered by Prime Cloud helps you to systematically focus your marketing spend on this highly effective tactic of customer retention.

And not only that – it also enables you to make use of highly profitable direct loyalty marketing tactics that are based on data:

With a Loyalty Program powered by Prime Cloud, you have the tools on hand to deeply understand your customers. As a result, you are able to identify which customer segments need which type of incentives to behave in the way you desire, and which types of tactics provide the ROI you are looking for.

All of this combined empowers you to spend your marketing budgets in the most effective manner – which helps both your top and bottom line! An easy example: why offer a 20% discount if the customer would have likely made that purchase even without the discount?

Drive Customer Behavior – Without a Discount Culture That Deteriorates Your Pricing Strategy:

While discounts can help in temporarily driving customer behavior, they have strong downsides. Not only do they negatively affect your pricing strategy (as customers easily get used to discounts and develop a “bargain hunter” mentality by only buying from you if a discount becomes available), but they also tend to wear off in their effectiveness and often do not sustainably drive incremental revenue and profit growth.

On the other hand, a Loyalty Program helps you drive customer behavior that grows your top and bottom line without these negative side effects.

One example: Points tend to be valued higher as a direct discount as it speaks to the “hunter gatherer instinct” of humans: seeing your points balance grow over time delivers a feeling of satisfaction no one-off discount could ever deliver. This is why a 5x Bonus Points Promotion typically delivers much better results than a 5% discount promotion, as studies of leading Points Reward Loyalty Programs show.

The accumulated points are then often used by customers to “treat” themselves to something special, which they would have not purchased otherwise (incremental revenue for you!).

Sustainably Stay Ahead of Your Competition:

Finally, a Loyalty Program helps you develop emotional loyalty by providing customers with unique value and appreciation. The reason for buying from your company becomes more price-independent and receives a personal, sustainable foundation. As customer satisfaction and “brand love” grow, this produces a multiplier effect by transforming your top customers into active brand advocates.

And there is more! With a Loyalty Program powered by Prime Cloud, you can transform your company into a truly customer-centric organization that listens to its customers. Through active listening, you learn what to improve and how to innovate to not only stay successful today, but also in the mid- and long-term game.

The Key Customer Loyalty and Retention Software Features that Empower #006:

  • Loyalty Program Design Configuration & Set-Up
  • Loyalty Program Member Management
  • 360° Customer Behavior Tracking & Incentivizing
  • Rich Loyalty Program Types
  • Loyalty Marketing Suite
  • Reporting & BI
  • Loyalty Program Admin & Management

Cutting-Edge Loyalty Program Success Made Simple:
With Our Test-Proven ‘Calibrate – Configure – Go – Achieve’ Methodology

At the heart of Loyalty Prime lies one core mission: making the immense power of loyalty programs easily accessible to B2B and B2C companies across all industries.

We know how difficult it can seem to anticipate which Loyalty Program design and set-up will help you achieve your goals. But we also know that the path becomes clear when you have deep expertise in Customer Loyalty like us.

So we did something amazing:

We poured our decades of Loyalty experience into an easily accessible path to success with: the Loyalty Prime ‘Calibrate – Configure – Go – Achieve’ (CCGA) Methodology.

This Methodology systematically reduces the complexity of conceptualizing, designing, setting-up and managing a high-performing loyalty program to an absolute minimum. And it ensures an extremely fast time-to-market – no matter your business scenario or industry!

Curious to find out more? Contact our Loyalty Experts today!

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Loyalty Prime is a global expert in Loyalty Programs and Loyalty SaaS Solutions. We’ve empowered countless B2B & B2C companies to quickly launch and drive their Loyalty Programs to success. With Prime Cloud as the powerful engine of your Loyalty Program, get ready to launch a whole new level of business performance!

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