Loyalty Blogs

Loyalty programs are key to meeting customer retention goals in the age of distraction. Software-as-a-service (SaaS) loyalty platforms have emerged as a powerful alternative to traditional loyalty solutions. Additionally, there is a wide range of non-SaaS loyalty solutions having their own set of unique features and benefits.

Businesses today have several options when they look for options of loyalty programs, each having its set of advantages as well as disadvantages. Many Enterprise Loyalty Program Providers offer loyalty solutions as per business needs. In this blog, we will find out some of the pros and cons of both SaaS and non-SaaS loyalty solution to help you choose the most suitable program for your business.

Options To Consider While Choosing Loyalty Solutions for Your Business

If you are planning to build your Customer Loyalty Software Solution & meet your business goals, we suggest you go through the sections below that can act as a guide to choosing the best among the wide range of loyalty solutions available in the market.

Without wasting further time, let’s check out the options below that you must know while choosing a loyalty solution for your business-specific requirements.

1. Simple & Basic Loyalty Platforms

To build a simple digitized version of the old cardboard punch cards, we can make use of a basic loyalty platform. Such types of loyalty programs are quite popular with high purchase frequency firms as they are a great option to reward repeat purchasers. The only downside of such programs is limited functionality and capability.

2. Email Service Providers

The second option is not exactly a loyalty program, but it is a simple way to collect a database of email addresses that enable brands to communicate with their customers. Having such an email strategy can help to collect basic information from customers and communicate with them on a regular basis.

3. eCommerce-Based Loyalty Platforms

With the increasing number of loyalty solution providers that are focused on loyalty for e-commerce, brands can choose the desired option that has a wide range of features such as tracking transactions, monitoring spend to a specific amount, and triggering discounts. Others may even offer the capability to earn points, and then redeem online. Go for this option if you wish to expand your brick-and-mortar business or collect customer data.

4. Tailor-Made Loyalty Programs

The next option is the loyalty platform which allows organizations to build customized loyalty programs that help to meet specific needs. If you want to build a program that will have exactly what the specifications of the strategy are, go for a tailored loyalty platform. The only disadvantage is that it takes significant time and money to build such solutions.

5. PaaS-Based Platform

PaaS, also known as Platform as a Service platform has a main element of data management such as rules engine & other core loyalty functionality. Choose this option if you want to build your loyalty strategy based on your business specifications. The best thing about such loyalty platforms is that they are less expensive & faster to market than a custom solution. However, you need an extra budget to add features and functionality.

6. SaaS-Based Platform

With one code base that all customers use, the Software-as-a-Service platform ensures that all the features are made available to every customer. Each customer can configure the (no code) platform based on their specifications where they can add programs or run new campaigns with a simple re-configuration in just a few minutes.

The main benefit of using a SaaS platform is that the platform gets richer with each new client as several customers are using a single code base. Additionally, whenever a client has extra requirements, they are fulfilled through frequent sprints without any additional costs.

SaaS Loyalty Solution with Its Pros and Cons

As we can see from the above section, Saas Loyalty Solution offers immense features like data security, scalability, and faster time-to-market capabilities & more than traditional loyal approaches hardly offer. Along with integration with cloud-based systems like CRM & eCommerce platforms, these solutions offer a better comprehensive view of customer behavior.

Listed are some of the best benefits of using a SaaS loyalty solution-

· Capability to accommodate business growth with time

· Get access to new features & functions to gain your competitive advantage

· Extract customer behavior insights to create timely/relevant campaigns

· Increase meaningful customer engagement using customized experiences

· Use built-in smart analytics feature to evaluate performance

· Help in making informed decisions with targeted marketing campaigns for the best results

· Anytime and anywhere access to loyalty solutions with an internet connection

· Opt for a Pay-as-you-go subscription model to manage budget

· No heavy upfront capital outlays and ongoing maintenance cost

From the above points, SaaS loyalty solution can be built to grab immense benefits at minimal costs. Whether it’s about the latest features, functionalities, flexibility, scalability, or analytics capabilities, SaaS loyalty programs offer all. If you work with a leading vendor like Novus, you can get solutions aligned with the latest technology to help you gain insights about customer behavior & drive customer engagement with customized loyalty experiences.

Final Takeaways

Loyalty programs are becoming essential for any business to retain its customers for a long time. Ensure that you go through the points stated above to know the difference between SaaS and non-SaaS loyalty solution. Irrespective of what kind of loyalty platform you choose to use, every solution has the potential to encourage customer loyalty and generate repeat business.

Being a reliable SaaS-based Loyalty Platform, Novus has years of loyalty experience that enable brands across the world to make the most of their loyalty programs. Aligned with the best loyalty features that can be easily configured to fit specific brands’ needs, we help businesses to keep track of their customer behavior, reward loyal customers, and build targeted campaigns. Get in touch with our experts to deliver unique & memorable loyalty experiences for your customers.