Chapter 3: Bring new retail loyalty experiences to market quickly
In the past, customized loyalty programs required heavy investment and took years to deploy, often resulting in outdated functionality by the time they hit the market. This is neither sustainable nor realistic. Changing market dynamics, evolving customer preferences, and competitive pressures necessitate that brands have the ability to easily and constantly evolve their loyalty programs without having to undertake a large-scale IT project.
Loyalty teams need a configuration that allows a faster time to market, greater flexibility, and reduced total cost of ownership. They need the ability to continuously refine programs and measure things like ROI, member engagement, profitability/liability, partnership impact and promotion ROI to ensure that the program is delivering on its goals. This requires: