Loymax solution - software for loyalty program and marketing campaign management
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The document outlines the creation of an effective loyalty program in six steps, emphasizing the importance of engaging with customers through personalized communication and data analysis. Statistics highlight consumer preferences for loyalty programs and the need for retailers to develop strong relationships with their members. Key points include leveraging customer data for targeted marketing, managing loyalty rewards effectively, and the significant impact of good software on program success.
Loymax solution - software for loyalty program and marketing campaign management
- 1. to Create a Good Loyalty Program with 6 Steps
- 2. Membership cards aren’t of any benefit to a retailer as long as they remain in a shopper’s wallet. Retailers must build fostering member relationships to achieve success and additional value.
- 3. Loyalty World Statistics 74%of consumers choose a store based on a strong loyalty or discount program (IRI Consumer Connect survey) 73%of Members are more likely to recommend brands with good loyalty Programs 49%don’t know if there is an app for their program 79%of consumers look for deals in loyalty and reward programs before making a purchase (Hawk Incentives Research) Only 23%of consumers were satisfied with the way rewards and benefits are earned for loyalty programs (Bond) MORE OPPORTUNITY WITH MOBILE 57%of members would like to engage with loyalty programs via a mobile device
- 4. Is a Loyalty Program Right for Your Business? FIRST DECIDE! To invest more money on: Developing new customers Retaining and developing the ones you already have With a good customer loyalty program, you will most likely boost your sales to existing customers at a much lower cost.
- 5. The Value of a Customer How much does IT COST TO ACQUIRE ONE? The Value of a Customer Formula MARKETING AND BD YEAR BUDGET NEW CUSTOMER COST TOTAL NEW CUSTOMERS/=
- 6. Value of a Customer? It’s easier to persuade a customer who already knows you to buy again or buy more from you. Good Software is 50% of Your Loyalty Program Success 20% of customers are typically responsible for 80% of a company’s revenue. Keeping an existing customer costs up to 5times less than winning a new one.
- 7. Loymax IT solutions allow you to succeed in main business cases of Loyalty Marketing: Gather Big Data Base of your customers via offline/online data collection and analysis. Identify your most loyal customers via data base and analytics Drive important marketing strategies and fatten the profits. Control your clients’ bonus and point accounts (collection and redemption) Make a complete customer profile, including commodity bundle, buying behavior, and receipt history. Identify sales growth opportunities based on loyalty program data Manage your massive and personal offers and messaging at Mobile App and Marketplace Create customer segments based on purchase patterns, demographics and more Performance analysis of marketing campaigns and communication tools Manage your Loyalty cards, coupons and gift certificates output 1 4 7 10 2 5 8 3 6 9
- 9. Study Your Current Customers 1. How much does your customer buy in a day/week/year? 2. What type of products do they buy and how frequent are purchases? 3. Can we sell them other products? 4. Do they use other suppliers, and, if so, who are they? 5. How much profit do we earn on their purchases? 6. How could we encourage them to spend more and visit more often? 1st STEP: ?
- 10. Study Your Current Customers 1st STEP: Active Buyers Customers who have made purachases in the past and continue to make purchases that are in line with their own porsonal buying cadences At-Risk Buyers Customers who have deviated from active buying cycles and are potentially on track to become a lost buyer Non Buyers Customers who have never made a purchase Lost Buyers Customers who have deviated from their active buying cycle for so long that they are unlikely to buy again
- 11. Loymax CRM Loymax CRM allows you to Gather and Manage Your Customer Big Data Base: • Gathering customer data Base using different registration channels: Contact Center, Web-site, Mobile App, POS • Complete customer profile including a market basket of the customer goods and a purchasing power (clients’ cards activity, a purchasing history, a social media activity history) • Client identification using different information: Phone number, card number, e-mail and etc. • Customer segmentations based on purchase patterns, demographics and more. • Managing your static and dynamic target audiences • Data quality increase: 1. Automatic data combination Between your offline stores and E-commerce sites. 2. There is no any duplicated information about one customer.
- 12. Create customer segment. Use CRM 2nd STEP: Loymax CRM allows you to combine the data from loyalty program members and can offer enormous insight into customer segments and how to strategically allocate marketing dollars to each group. Determining a customer’s value should never be a guessing game! Create customer segments based on purchase patterns, demographics and social context and define the customer’s persona. RFM MODEL TO SEGMENT: Recency the time between customer visits Frequency which customers come very often, regularly, once in a while or not anymore Monetary which customers have high spend, medium spend or low spend
- 13. Prepare your customer loyalty program 3rd STEP: To identify loyalty program goals and strategies for each defined segment. • Protecting? • Growing? • Acquiring? • Reactivating? To create promotional activities and outreach strategies tailored for each customer segment and its goals • Points Loyalty System • Loyalty Card Program • Tiered Program • Fee-Based Loyalty Program • Coalition Loyalty Program • Cash-Back Loyalty Program • Mobile Loyalty Program 1 2
- 14. • Points and Bonuses processing (online and offline). • LP card management: plastic and virtual cards’ Issue and processing. • Setting up and combining LP offers and other activities. • Managing offers’ priorities • Controlling clients’ bonus and point accounts (collection and redemption) • Supervising production and output of diverse coupons and gift certificates. • Flexible and customizable activity settings. • Test opportunity for all LP offers and activities before the real POS launching. • Managing rates and life circle of the points and bonuses. • Grouping goods and services • Cross-marketing with any external partners. • External Partners’ cards, points and bonuses processing (collection and redemption) inside the System. • Managing offer levels: red price labels, VIP offers, personal offers, adopter categories and etc. • Complete user roles management and the System audit opportunity Loymax Loyalty Management is your main Loyalty Program management device Loyalty Managment
- 15. Public Coupon Consumer Coupon Loyal Customer Coupon Coupon of Your Partners • UNlimited quantity • Multiple use • You can share it in all Media, Internet channels and by any promotional tools. • Helps to draw new buyers • Manageable and limited quantity • Unique ID number • Single use • Any useful promotional channels for distribution (Receipt, Cashier’s Display, Sms, Push, Viber, E-mail etc.) • Only for your loyal customers • Includes special and relevant offers • Unique ID number • Your client can make the coupon by himself and spend his points for it at Mobile APP and Marketplace • You can use and mange all partners and cross marketing coupons in the System The System Allow You to Sett Up any Type of Coupons and Gift Certificates • Receive relevant offers according to his/her buying activities and shopping preferences. • Remember of your store while shopping in your Partners’ stores. • Recommend your store for his/her friends and hand out coupons that is not relevant for him/her. Your Client will be able to:
- 16. Set up Budget and KPIs 4th STEP: SALES PENETRATION Percentage of sales that are generated by loyalty program members. TRANSACTION PENETRATION Percentage of transactions for which a loyalty card was swiped. ACTIVATION RATE Percentage of registered members who have made a minimum of one transaction over a particular time period and etc.
- 17. Loymax BI Platform is based on main tools of MICROSOFT BUSINESS INTELLIGENCE AND ANALYTICS PLATFORMS (SQL SERVER + POWER BI), the Big Data Analysis world leader (Gartner). More than 40 presetting reports and segmented groups Use Loymax BI Platform Loymax Business Intelligence platform is designed to retrieve, analyze, transform and report customer’s big data collection for your business success. 4th STEP:
- 18. Build Relevant Communications 5th STEP: yet only 53%describe the communications they receive as relevant. According to Maritz Loyalty Report: 94% of loyalty members prefer to receive communications from their programs
- 19. Loymax Communication • Massive and personal messaging using SMS, e-mail, push, viber • Cost Communication Planning • Automating underlying messages: Reminders, running out of points, birthday congratulations and etc. • Messaging on a customer’s receipt with a new relevant and personal offer • Setting up and sending messages to a cashier display • Creating advertising banners for Mobile App and Marketplace Omnichannel Communications is the Main Approach to Serving Customers
- 20. Omnichannel Communications Social Media Receipts Mobile App Coupons Customer Contact Center Personal account Gamification Events Gift cards Info-desks Offline store Website POS
- 21. FREE of Charge ! Mobile Loyalty Constructor: In two clicks you can create mobile app and marketplace and launch a loyalty program To Engage 49%of Customers more
- 22. Launch Your Successful Loyalty Program 6th STEP: Create a loyalty program with clear objectives and benefits to customers and with simple mechanism to earn and burn points. Loymax System allows you to use virtual POS and to test all LP offers and activities before the real POS launching. Good software is 50%of your Loyalty Program Success
- 23. • Grouping different offers and bonuses into one marketing campaign for each segment. • Making relevant personal and massive offers to different segments within one marketing campaign. • Managing different type of communications in single-window service of the System. • Creating communication chains depending on the Offers’ performance results. маркетинговой компании • The System automates and captures your plan targets and operational performance. • Evaluating each of your marketing campaigns’ KPI weekly / monthly / yearly The Single-Window Service of Marketing Campaign Management Any Time You Can Stop an Ineffective Offer, Mailing or a Whole Marketing Campaign Offers Communications Plans 6th STEP:
- 24. How To Choose the Best Loyalty Software Partner 1. What IT solutions do you offer and do you provide support services that eliminate the risk of software outdating? 2. Do your IT solutions meet entirely CRM, LP management and communication requirements? 3. Can you provide the necessary tools and services needed to measure and analyze the performance of a LP on an ongoing basis? 4. Does the implementation process include training sessions that our team members are fully acclimated and able to launch any new loyalty program tools? 5. How easily can your loyalty and gift card platform integrate with today’s leading POS and payment processors? 6. Can loyalty programs be enhanced with custom promotions, a member portal website or even mobile apps for greater engagement ?? ?