Do you need a brand partner?

In 2016, technology investments are expected to continue to be at the top of the agendas of the world’s leading CEOs, just as they were in 2015. It is forecast that of those with plans to invest in technology, 37% will spend on customer experience management, 32% on digital marketing and 28% in data mining and business analytics. In short, the importance of technology in customer relations keeps increasing, and in the chase for strong returns additional investments are being made all the time.

We are now in the Loyalty 3.0 era and those who do not recognise the importance of their customers are already falling behind the competition. We are now in a position where even your local grocery store can envisage itself using loyalty applications and handing out reward cards. In addition, companies are now able to examine big data gathered from its customers, business partners and employees and combine this intelligence with studies of human motivation in order to obtain genuine customer loyalty. The three approaches below were previously unsuccessful because they were applied separately, but have now been combined under the Loyalty 3.0 umbrella with excellent results:

a) Motivation: The latest scientific studies can clearly define the kinds of motivations that shape human behaviour and explain the reasons why people do or don't do certain things in their private or work lives. Knowing what motivates and demotivates people improves customer interaction and brand loyalty. Approaches that ignore the differing needs and wishes of individuals are doomed to failure, and the best loyalty solutions are those that take into full account the motivations of every individual.

b) Big data: nowadays technology dictates how people communicate, socialise, work or even play games. The data produced by people who interact with these systems is multiplying in volume day after day and, thanks to new technologies, we can now capture more detailed data. Smart companies can now find ways to motivate their customers that were never possible before by processing and understanding this information.

c) Gamification: Game designers have been using data-driven motivation techniques for years and these techniques can now be combined with big data to add value to other fields. The key message in recent times in the loyalty field is clear: satisfy your customers and the rest is easy. Businesses that use reward points, customised campaigns and gaming techniques are already moving in the right direction. However, the new trend is now for companies to provide discounts to customers through their business partners.

Let's say you set up your loyalty system and you have an amazing customer base. Sales numbers are good and customer satisfaction is high. What’s the next step? You can use your CRM system to offer your customers discounts from partnering companies in return for choosing your products. This would inevitably be welcomed by those who are already customers of those partners, but the approach also invites others to purchase from them for the first time.

With the PayFlex Brand Partnership application you can send your customers discount codes using mobile applications, SMS or email. What’s more, setting up this system does not require you or your partners to make costly hardware investments, since even your small business partners can verify codes simply by using a tablet computer or smartphone. You can also monitor the effectiveness of your campaigns by using the system’s advanced campaign management and reporting options in order to make better judgements when choosing your next business partner based on your customers’ interests. The latest trend in customer satisfaction lies in brand partnership solutions, and the PayFlex Loyalty structure is capable of answering all your loyalty system requirements.