Thursday 4 March 2021

David Schmaier

Salesforce introduces Loyalty Management

DUBAI, 21 days ago

Salesforce, the global leader in CRM, has announced Loyalty Management, a new product for companies across industries, including retail, consumer goods, manufacturing, travel and hospitality, to increase customer trust and engagement. 
Built on the Salesforce Customer 360 Platform, Loyalty Management allows companies to build intelligent loyalty programmes for both B2B and B2C customers with a flexible, configurable, and quickly deployable solution that fits their specific needs. 
With Loyalty Management, companies can provide more personalised consumer experiences, evolve their loyalty programmes to stay current with customer expectations and help drive business value by creating loyal, lifelong customers.  
Since the start of the pandemic, more than a third of U.S. consumers have tried a new brand, and 80 percent of them intend on sticking with it.
While loyalty programmes can help companies develop long term relationships with customers and drive growth, many rely on outdated, fragmented technology that fail to provide integrated experiences and are unable to evolve with industry trends, such as the shift from traditional point-based reward programmes to exclusive experiences and products. These loyalty programmes end up offering little value to the business or the customer and actually lower consumer trust instead of increasing it.
Salesforce Loyalty Management will empower companies across industries, including retail, consumer goods, manufacturing, travel and hospitality, to create engaging and effective loyalty programmes with clicks, not code, so that technology can be quickly implemented and easily customised. Loyalty Management is integrated with Salesforce Digital 360, Service Cloud and Tableau, allowing digital leaders to deliver a connected loyalty experience across the entire customer journey. 
Salesforce Loyalty Management includes the following capabilities: 
Flexible and complete loyalty platform: Loyalty Management is built on the Salesforce platform so businesses can design a variety of different programmes that meet their unique needs. Whether that is a tiered membership programme or points per purchase, businesses can flexibly configure earn and redeem rewards programmes. For example, a hotel chain can easily customise offerings to each local market to account for different experiences and amenities, such as tickets to a local professional sports game or a local winery that offers tastings, and evolve these offerings over time based on popularity and seasonality without having to rewrite code or update antiquated back end systems. 
Personalised loyalty offerings to drive business value: Companies can target different segments of their member base to ensure that offerings to consumers, business customers or partners feel unique and customised to an industry and their customer base. Loyalty Management allows companies to pull in their customer data—including marketing interactions, purchase history and website visits—to create a unified view of the customer and inform the personalised promotions they receive. For example, an outdoor retailer can promote an exclusive ski trip that they are offering in partnership with a local ski resort, or a B2B manufacturer can reward a business customer with credit for attending a webinar or product training. 
Integrate loyalty throughout the entire organisation with a single source of truth: Because Loyalty Management is integrated into the Salesforce Customer 360, customers can easily sign up for loyalty programmes through Salesforce Experience Cloud, and businesses can send personalised content and notifications to customers with Salesforce Marketing Cloud and Customer 360 Audiences. In addition, companies can integrate external systems, like a customer data platform, with APIs and integrate third party solutions from Salesforce AppExchange, such as geolocation-based notifications for when a customer is near a store, to enhance their Loyalty Management programme. This creates a single source of truth and can empower an entire organisation to strengthen loyalty across every customer interaction. 
Measure loyalty programme performance: With Tableau CRM for Loyalty Management, companies can measure programme performance, member acquisition and engagement, and partner performance in a dashboard. As business and customer needs change, Loyalty Management allows companies to determine the best path forward and to adjust their programmes, including promotions and offers, based on real-time data. For example, a retailer can identify when their members aren’t using their points and offer them new incentives to redeem points to reduce the company’s point liability.   
Salesforce partners are equipped to implement Loyalty Management for B2B and B2C customers across industries. Salesforce global strategic partners Accenture, Capgemini, Deloitte and PwC, in addition to consulting partner PK, served as design partners in the development of Loyalty Management and can provide organisations with guidance and solutions to build and strengthen loyalty programmes for customers. 
"Organisations with high levels of customer loyalty outperform their competition, so it's critical they provide their customers with valuable and memorable experiences to build trust,” said David Schmaier, CEO, Salesforce Industries. 
“Loyalty Management allows companies across industries to evolve their loyalty programmes from transactional to human-centric by delivering personalised, relationship-building moments to each customer.” 
“As successful loyalty programmes move beyond simple point and redemption exchanges and focus more on early access, experiences and products, existing loyalty solutions have been slow to adapt,” said R “Ray" Wang, Principal Analyst, Founder and Chairman, Constellation Research. 
“Customers are looking for a loyalty management product that represents the next generation of loyalty and gives companies the freedom to create, evolve and measure a loyalty programme that is capable of providing personalised and engaging offerings.” -- Tradearabia News Service


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