Keeping Your Loyalty Program Off The Naughty List!

By: Ray Chelstowski / Hilton Barbour

If your letter to Santa didn’t get posted in October, you might just be getting a lump of coal this Holiday season. That’s because, across the globe, supply chain issues are reportedly so severe that inventory projections for the coming season are incredibly dire. For some inventive organizations and loyalty program marketers, this spells opportunity, not threat.

Best Buy is leaning into this and showing their famously loyal customers that remaining loyal – which includes a $200 annual fee for their premium program - genuinely pays. They’re giving members access to hard-to-find holiday items throughout the season, as well as special pricing. Expect to see more loyalty programs following this loyalty-first trend. A recent survey found that 55% of companies will focus on loyalty-specific marketing events during the holiday shopping season.

It can be easy to only see your loyalty program as a well-understood “earn & burn” construct that ticks away in the background of your business, but that’s a limiting belief. Astute loyalty marketers recognize the enormous potential – and access – that a highly engaged loyalty program provides. They also recognize that keeping those customers loyal requires constantly tweaking, refining, optimizing, testing, and re-inventing the program. And that applies to the unique value that program delivers as well.

In times like these, where inventory is low and consumer frustrations are high, having the ability to offer new rewards, new experiences and new value becomes paramount. Kognitiv’ s collaborative commerce solution enables just that. An ability to find and collaborate directly with peers to create new rewards and enhanced value. A capability to effectively scale your current partnerships or to add new partners with relative ease. And as year-end approaches and we’re all watching our pennies, collaborative commerce provides a mechanism to source new funding from peers driven to achieve the same business goals as you. This all begins with loyalty.

As the Holiday season rapidly approaches, think of us as Santa’s Little-known Helper.

Find out how collaborative commerce can put you on the "nice" list.

ray.chelstowski@kognitiv.com

hilton.barbour@kognitiv.com

Comments

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