Loyalty Blogs

With thousands of loyalty programs available in the market, businesses are struggling to make a difference in delivering unique and personalised rewards. The top secret to making your brand a winner is to focus on providing meaningful experiences to customers. Your loyalty program may work fine for some time, but without restructuring and redesigning, your program will eventually fail. Take time to elevate your outdated loyalty program by taking the help of a reliable loyalty program platform.

In this blog, we will learn about the top practices and things to avoid while restructuring your loyalty program.

Significance of Loyalty Program Redesign For Long-Term Success

Enhancements and updates in your program are the key to achieving the ultimate program performance. These updates can be anything related to changes in customer behaviour, CX demands, technological innovations, AI capabilities, and more. The redesign process of your loyalty program can involve many scenarios, like adding new features, switching to a digital-first model tier structure, updating to a new tech stack, or even revamping the core concept.

Research by the Global Customer Loyalty Report 2024 says that 9 out of 10 program owners plan to revamp their existing loyalty program within the next three years. This clearly shows that loyalty program revamps are becoming the need of the hour, and it is here to stay. One of the most important aspects of making your loyalty program work is to continue to work on it. After the program launch, business owners must keep monitoring the performance, analyse the results, and pinpoint areas for improvement.

Goals That Can Be Met With Loyalty Program Redesign

As we know, loyalty program revamps are essential to make it a success; it is crucial to learn when rewards program for businesses must be re-designed to achieve several goals.

Here are some of the scenarios that show your loyalty program needs an upgrade-

• When you need to boost Customer Lifetime Value

Keeping your customers engaged at every touchpoint, even after purchase, is essential to improve CLTV. Ensure that your business focuses on switching to a more flexible platform with an engaging program type along with a more elevated integration system for more appealing rewards.

• When you wish to switch from the current platform to the new one

Research by Gartner’s Marketing Technology Survey says that marketers only use 42% of the technology they have purchased. For instance, when your current platform is either too complex or has too many unnecessary features, you may consider investing in a new option with more user-friendly capabilities.

• When you want to boost your marketing team with a flexible platform

Relying on programming language while using a loyalty platform may disappoint many loyalty program users. That is why you may be looking for a flexible platform that enables your marketing team to take control and modify or customise workflows and even send out rewards in just a few seconds with complex coding knowledge.

• When you want to invest in better personalization

If you want to deliver hyper-customised reward experiences to your customers, you need seamless alignment between your loyalty program provider, your CDP, and your marketing automation provider. All this is possible with the help of a reliable loyalty program vendor with advanced API capabilities and a simplified data ecosystem.

• When you want an omnichannel loyalty program

Many loyalty program owners feel that having too many manual processes and lacking a unified customer profile can be problematic for businesses wishing to track offline and online activities. The wise choice is to redesign the existing loyalty program into a mobile-first, omnichannel structure.  

• When you want to boost engagement between purchases

Another scenario where your business loyalty program needs a revamp is when you want to increase customer engagement by rewarding not just transactional activities but also non-transactional activities like charity, fitness, etc.

Many platforms may face issues in properly tracking these customers’ actions and ensuring that they are rewarded effectively. That is why you must switch to advanced technologies with the capabilities of extended integrations for fitness and wearable trackers.

• When you want to update to a feature-rich loyalty solution

Businesses may wish to elevate from their existing technology to a more flexible and feature-rich tech stack by adopting a robust loyalty platform. For this, your business can choose a platform that offers advanced technology, the latest features, and capabilities to choose from at affordable pricing plans, making it suitable for startups and big brands.

• When you wish to reduce overall operating costs

Many smart loyalty platforms are available today that help businesses to lower program costs. Ensure that your business works with platforms like Novus that can help you save more by choosing the plan with desired loyalty capabilities aligned with specific business needs to avoid waste of resources.

• When you wish to integrate loyalty technology with other platforms

Working with a loyalty program provider that can help you seamlessly integrate with a wide range of services can be a great choice. This will help your business unlock creative and personalised marketing strategies like loyalty emails with hyper-personalised product recommendations along with easy processing of rewards.

• When you want to delight customers with an enhanced reward experience

Keeping customers engaged and delighted is essential to make your loyalty program successful. That is why you must revamp your program by incorporating gamified elements like prize wheels or challenge-based reward systems, which will ensure that your tech stack can execute new features effectively.

Final Thoughts

Hopefully, after going through the blog, you have learned that revamping your loyalty program can unlock new growth opportunities for your business and help you boost long-term customer loyalty. Ensure that you go through the practices stated above to re-design your loyalty program and elevate it with a refresh. Whether you want to revamp your existing loyalty program or build a new one from scratch, Novus can help you meet all your loyalty software solution needs. Connect with our experts today and book a demo of Novus to see how we can revamp your program in the best possible way with the latest technology that fits your specific business needs. Say goodbye to your outdated loyalty program and upgrade it for enhanced business results.