How do you compare and evaluate different Loyalty Program software and tools providers and vendors?

For me, there need to be first be a single-minded vision for the program - not even a list of goals. There are too many loyalty programmes trying to do a multitude of jobs and failing to impress the actual customer, so everyone loses out!

Remember: "Don’t buy a Lamborghini if a Toyota does the job." The question should not be “What is the best Loyalty / CRM software?”. But rather: "Why do you need a Loyalty platform?". Ask yourself these things when choosing a platform: 1. What are your goals and what features do you need to achieve them 2. What is stopping you from achieving your goals with the current platform? 3. What are the current pain points of the platform users? Your tech stack is only as good as those running it.

The first step is always identifying your goals, and I’m using our Rowad program as an example here to increase customer retention, boost engagement, and enhance brand loyalty. You must set clear metrics to measure success, such as repeat purchase rate or customer NPS, And based on your customer persona, determine the rewards that resonate with them and align with your brand values. Plan communications & determine how you will engage with your program members through personalized interactions. Segmentation is essential, it is not launch-critical. However, having that set from day one will save you time later in the program when you want your customers to have a tailored experience and maximize the program's effectiveness.

Comparing loyalty solution's features & functionalities is the easiest step. Most, if not all, solutions (if they align with your goals) offer all the necessary capabilities, points system, wallets, tiers, referrals, gamification, coupons, analytics...etc. The list is endless. Case studies could be one of the major reasons you choose one solution over the other. Take your time to evaluate other programs running with the same solution. You will be surprised by how it can be a decision tool and the ideas you will get for your program just by researching other programs and solutions. In our case, we chose Open Loyalty due to its API-first approach. It provided seamless integration and significantly reduced the development time and hassle.

Once you define the objectives of the loyalty program, you will automatically gets aware about the features which are required for the program. Prepare the features list and based on that functionality to be assessed.

Na minha vis?o, definir seus objetivos é o primeiro passo crucial antes de se aprofundar na busca por software e ferramentas para o programa de fidelidade. Na Cuponeria, sempre destacamos a importancia de ter uma vis?o clara do que queremos alcan?ar. Quais s?o nossos objetivos principais? Como planejamos medir e aprimorar nossos resultados? Que tipos de recompensas e benefícios aspiramos oferecer aos nossos usuários? E como pretendemos comunicar e envolver efetivamente com eles? A segmenta??o e personaliza??o do programa também s?o fatores cruciais a serem considerados. Todos esses elementos nos ajudam a estabelecer metas claras e a escolher as estratégias mais eficazes para o sucesso do nosso programa de fidelidade aqui na Cuponeria.

Even though the main goals of loyalty marketing may appear to be the same, each tool offers different features and functionalities. There are some resources available online or some communities of like-minded professionals (like Loyalty 360) where you can ask for recommendations on which tool is right for you and hear from many experts about their experiences. But it ultimately comes down to you and your loyalty team to make the final choice. So ask for free demos of the softwares your are interested in and don't be afraid to ask how each one of these tools compare to their competitors. It's your right and duty to know before you buy.

2 key aspects to consider while comparing the features and functionality is : 1. Customization: What level of customization does the platform allows and supports. Ask for the right case studies/ use cases. Do not go with only what platform can deliver , ensure if platform can do what your program requires or will require in future. Tool's capabilities and flexibility should compliment your strategy and objectives. 2. User friendliness: How easy & friendly is the interface for the users and the customers.

Before getting into pricing, one must be aware about the structure of Loyalty Management Software (LMS). The LMS consists of below modules. 1. Points engine 2. Rule Engine 3. Campaign Engine 4. Reward Engine 6. Customer Database engine (CRM) Traditional LMS comes with all the five modules which are embedded together, but the biggest limitations with these LMS are Cost and flexibility. Modern LMS follows the modular approach which would be cost effective, scalable and far flexible .

When considering pricing and value for loyalty program software and tools, it's essential to look at initial costs as well as total ownership costs, to provide a clearer investment picture. It is also important to assess the value in customer retention, loyalty, satisfaction, referrals, revenue, and profit. At Paytm, leading business development, I successfully closed deals with Automotive (OEM's and suppliers) and O&G brands by showcasing how our loyalty software could deliver strong ROI and drive growth. For instance, despite our quotation being the third lowest in the tender, our platform helped a leading lubricant brand increase its market share from 2% to double digits, demonstrating the value of a well-implemented loyalty program.

This is a very important consideration and a common mistake made by companies. They sometimes go with the cheapest platform. There is a reason why they are inexpensive - they will not be as robust, won't provide good support, will not provide any strategy consultation and have limited reporting abilities. If you are serious about making the loyalty program work for you, it is better to invest in a robust platform

When comparing loyalty program software, consider pricing and value. Choose software that fits your budget and offers a strong return on investment. Evaluate upfront costs and ongoing expenses like maintenance, updates, support, and fees. Compare the value proposition of each software, considering its impact on customer retention, loyalty, satisfaction, referrals, revenue, and profit. The most cost-effective software is the one that delivers the best results for your specific business goals.

Do meu ponto de vista, outro aspecto crucial a ser avaliado é o pre?o e o valor oferecidos por diferentes softwares e ferramentas de programas de fidelidade. é fundamental encontrar op??es que se encaixem no or?amento e proporcionem um retorno significativo sobre o investimento. Além dos custos iniciais, é essencial considerar os custos em curso, como manuten??o, atualiza??es, suporte e taxas. Também é necessário analisar a proposta de valor de cada software e ferramenta, especialmente como contribuem para aumentar a reten??o de clientes, a fidelidade, a satisfa??o, as referências, a receita e o lucro. Na Cuponeria, sempre buscamos equilibrar o investimento com os benefícios tangíveis que cada solu??o oferece.

It’s crucial to choose loyalty software that integrates smoothly with existing platforms like CRM, POS, e-commerce, and email marketing systems. These integrations ensure seamless data flow, allowing customer behavior, purchase history, and engagement data to sync in real-time. Always prioritize platforms that offer seamless data flow and scalable solutions, ensuring the technology can grow alongside your business and handle increased traffic and transactions seamlessly.

While a smooth Integration of the tool with your existing systems is crucial , also explore how futuristic the platform is and how they have evolved in the last few years. With the ever changing world, your programs needs will change and you would not want to stuck with something which is fixated in nature.

Integration challenges can kill a loyalty program. One big challenge is getting clean data, which is data that is well-structured and regularly updated. All the Loyalty Platforms in the world won't help if clean data is not available because these systems are garbage in, garbage out. Thinking about clean data at the start, especially data updates, is also a good way to surface integration challenges. Another best practice is to get clear on who owns each part of the process to get clean data. This is tricky when data spans platforms and vendors. One way to limit integration work is to pick platforms with plug-ins available for your major systems like your ecomm platform/CRM. E.G. Shopify's App store has many loyalty platforms plug-ins.

Integration is a crucial component when it comes to choosing the right software for you. When the tool you are looking for integrates with other platforms (i.e., a loyalty and customer engagement software that integrates with a gamification platform) you can score great deals and discounts by leveraging the combo choice of those 2 platforms. Additionally, you are going to benefit from a pre-existing collaboration and ease of integration that can pay dividends (hard and soft) for your overall bottom line.

Your loyalty program should become an integral part of your overall marketing workflow. It should be integrated with your email service provide, CRM, reviews platform, customer service platform, CDP, SMS and other martech stack. Seamlessly exchange of data will increase the performance of all the systems, not just your loyalty program

This is a crucial and oft neglected point. Loyalty platform is useless without the right strategy. 'Support' should not cover just tech support and answering your questions quickly. It should be proactive. Your vendor should be invested in your success. They should guide you in optimizing the program, implementing the right strategy and teaching you the best practices.

Ao avaliar fornecedores de software e ferramentas para programas de fidelidade, é crucial considerar o nível e a qualidade do suporte oferecido. Buscamos parceiros confiáveis, responsivos e úteis, capazes de auxiliar em qualquer quest?o ou dúvida que surja. Além disso, valorizamos fornecedores com avalia??es positivas e depoimentos de clientes, demonstrando sua eficiência e compromisso em atender às necessidades dos usuários. Priorizamos parceiros que solicitam e agem com base no feedback dos clientes, buscando constantemente melhorias em seus produtos e servi?os

Join organizations like Loyalty 360 to connect with fellow loyalty marketers and ask them questions! Create your own support system made of other professionals who had to make the same decisions you are faced with right now. The saying "it takes a village" applies here, too.

As a Loyalty Program Manager, comparing and evaluating different software providers was essential for our program’s success. In my evaluation process, I prioritized assessing support and feedback from current users. I reached out to existing clients of potential vendors, asking about their experiences regarding responsiveness and issue resolution. I also participated in product demos, paying close attention to the level of customer support offered, from onboarding to ongoing assistance. Gathering this feedback helped me gauge not only the software’s capabilities but also how well the vendor supported their clients. Ultimately, this thorough assessment ensured we chose a provider that would enhance our loyalty program effectively.

One useful approach is to use the suggestions provided by one vendor as the source of questions for another vendor. For example, if one vendor recommends a gamified program vs a straight up rebate program, then ask the other vendor about the pros and cons of gamification in your situation. And then take the cons from the second vendor, which in this case would be the cons of gamification, and then ask the first vendor about them. Repeat as necessary. This will reduce the risk that you are depending on solution suggestions that fit the vendor's interests vs yours.

Basis mu experience I would evaluate basis 4 broad factors. 1. Agility & Customization of the platform: Can the platform easily adjust to your requirements and construct and offer personalized experiences basis different cohorts and segments. 2. Team Expertise: Does the founders and the team have solid relevant experience in loyalty program domain and can deliver results? Often this becomes a big hinderance in the success of the program specially when its not a vanilla program. 3. Data Security: How well do they protect customer data and follow privacy rules? 4. Analytics & Integration: Are the reporting tools strong to assess health of the program? Also can the platform connect smoothly with other systems both internal and external.

While features and integration are important, there are additional factors that can significantly impact the effectiveness of your loyalty program. Data Security: Ensure the platform complies with data privacy regulations like GDPR and protects customer data with encryption. Customer Support: Look for a provider with responsive support and resources to assist during implementation and troubleshooting. User Experience: Choose software that offers a seamless experience for both customers and internal teams, with easy-to-use interfaces. Reward Flexibility: Look for a platform that allows you to choose from various reward types (points, vouchers, discounts, gift cards, cashback) that can be tailored to customer preferences

Start with detailed end-game scenario, prioritize the features and come up with step-by-step implementation and development scenario. Use these as a requirements specification and get the cost estimate, list of ready features and those needs to be improved from pre-selected vendors. Compare, combine.