How to Evaluate a Loyalty Platform Provider

In a landscape where direct-to-consumer (DTC) competition escalates by the day, brands find themselves in a perpetual quest for that golden ticket to stand out. Loyalty programs emerge as a beacon in this sea of competition, offering a means for brands to not only distinguish themselves but also to cultivate lasting relationships with customers. 

As the battle for consumer attention intensifies, the significance of a robust loyalty platform provider cannot be overstated. In this blog, we explore the importance of loyalty programs and lay out what you need to know to evaluate the best loyalty platforms so you can propel your brand toward sustainable growth and enduring customer loyalty.

Why Is It Important to Carefully Choose a Loyalty Platform Provider?

Loyalty programs prove highly effective in fostering a sense of community among customers and building a connection with your brand. This bond not only deepens their loyalty but also encourages them to engage in activities that attract new customers. According to research by Okendo, 77% of customers are more likely to be loyal to a brand long-term if they offer a loyalty program. Creating a successful loyalty program starts with choosing the right Shopify loyalty platform provider.

Jason Anderson, Chief Operations Officer at Andzen, says, “Choosing your loyalty provider is a crucial step in the creation of your program as you want to maintain a consistent experience for your customers on-site.

Anderson adds, “It’s vital the platform can provide key insights into how people engage with the program via points redemptions and moving between tiers. You want to see tangible improvements in CLTV and the frequency of orders per year. The platform should be clear in showing this value.

“A strong suite of integrations is also key to ensuring people engage with the program. Being able to incentivize things in your loyalty program like leaving a review helps you create a consistent, rewarding experience across your website.” 

Above all, you want a provider that helps make it easy to accomplish your goals. The last thing you need is a platform that introduces more problems than it solves. By carefully evaluating your options and choosing a provider that aligns with your specific needs and objectives, you can safeguard against potential pitfalls and set up your loyalty program in a way that maximizes the program’s full potential.

How to Choose a Loyalty Platform

When it comes to selecting the ideal loyalty platform provider for your brand, navigating through a myriad of options can be overwhelming. However, armed with the right knowledge and criteria, you can make an informed decision that aligns with your brand’s objectives and customer needs. 

Here are the key features to look for when choosing a loyalty platform provider:

Does the Platform Offer Flexible Options to Reward Your Customers?

VIP Tiered Program

Implementing a VIP tiered program within your loyalty initiative can instill a sense of exclusivity and accomplishment among your customer base. As customers interact with your brand, they ascend through different tiers, each offering unique rewards and privileges. This tiered structure not only incentivizes continued engagement but also cultivates a deeper sense of loyalty and affinity toward your brand.

Points Program

Incorporating a points-based system into your loyalty program can have a huge impact on customer engagement and retention. Okendo’s approach empowers customers to collect points through a diverse range of actions, including purchases, account sign-ups, review submissions, and social media interactions. This flexibility not only promotes widespread participation but also fosters deeper engagement across various touchpoints.

Is the UI Intuitive and Easy to Use?

Ease of use is another crucial factor to consider. A user-friendly interface ensures that your team can quickly grasp the platform’s functionalities, minimizing the learning curve and maximizing productivity. Efficiency is paramount in today’s fast-paced business environment, and you can’t waste time on a complicated setup process. A provider that offers a streamlined onboarding experience ensures that you can get up and running fast, quickly experiencing the rewards of your loyalty initiative. A platform that is intuitive and easy to navigate also fosters a positive user experience, both for your internal team and your customers.

Does the Platform Offer Performance Reporting? 

Tracking performance is paramount for optimizing outcomes and driving continuous improvement. A comprehensive reporting system enables you to monitor key customer loyalty metrics and assess the effectiveness of your loyalty initiatives.

Your loyalty program should allow you to measure two customer loyalty metrics in particular:

• Engagement metrics: Like member signups, points earned, and points redeemed. By monitoring these metrics in real-time, businesses can gain valuable insights into customer behavior patterns, identify areas for improvement, and refine their loyalty strategies to drive greater success.
• ROI: Ultimately, the success of a loyalty program hinges on its ability to deliver tangible returns on investment. You should be able to easily track metrics such as customer lifetime value, repeat purchase rates, and revenue attributed to loyalty program members, so you can accurately assess the financial impact of your loyalty initiatives.

Can You Access All Features without Paying More? 

Your brand should have the freedom to adapt and adjust its strategies as needed without paying more. Okendo understands this necessity, giving you access to all features of the loyalty platform without any of the added costs. This flexibility allows you to define, customize, and manage your loyalty program at scale according to your evolving needs, ensuring your brand remains agile and responsive in a dynamic market landscape. 

In addition to access to all Loyalty features on all plans, you’ll save money when you bundle Okendo products, so you can tap into the power of Reviews, Quizzes, Referrals, and Surveys, in addition to Loyalty, all in one platform.

Does the Platform Provide Strong Customer Service and Support? 

A loyalty platform is only as effective as your ability to utilize it to its full potential.  You also want a platform that makes building your program easy and customizable, but if there is an issue, you don’t want to face delays in receiving the support needed to resolve the problem.

With Okendo, you get expert loyalty program strategy services and support. Okendo offers hands-on, strategic support with every step of building your program. Experts help you ensure that your program is designed in a way that meets your unique customers’ expectations and is optimized for success from the moment you start to build your program. 

Okendo also offers 24/7 support to address any issues or concerns that may arise, ensuring your brand receives timely assistance whenever you need it. Additionally, Okendo provides personalized onboarding and dedicated account management to guide brands through every stage of their loyalty program journey. This comprehensive support ensures customers can leverage the full potential of the Okendo platform and achieve their desired outcomes with confidence.

Can You Consolidate Your Tech Stack and Customer Data? 

You want a platform that seamlessly integrates into your existing tech infrastructure, forming a cohesive and consolidated stack. This not only streamlines operations but also enhances efficiency by eliminating silos and reducing the need for manual intervention.

Consolidating your tech stack not only saves precious time but also enhances cost-effectiveness. Okendo stands out as a pioneer in this regard, offering the unique advantage of combining Reviews, Surveys, Referrals, Quizzes, and Loyalty within a single, unified customer marketing platform. 

Here’s why consolidating your most important customer marketing products benefits you: 

• Easy setup: Time is of the essence in today’s dynamic business environment. Choose a platform that prioritizes swift setup. Getting up and running should be a breeze, allowing you to start leveraging the power of a loyalty program without unnecessary delays or complications.
• Streamlined workflows: You don’t want a pieced-together solution. Choose a platform that recognizes the importance of interoperability and offers robust products and integrations. This ensures your loyalty program works seamlessly alongside your CRM, email marketing and SMS software, and other essential tools.

Centralizing customer data is crucial for enhancing personalization, streamlining operations, and maximizing the effectiveness of your loyalty program. With Okendo, your brand can gather data from multiple sources, including Reviews, Referrals, Quizzes, Surveys, and Loyalty interactions, and consolidate it into unified customer profiles. These profiles provide a holistic view of each customer, allowing your brand to understand their preferences, behaviors, and engagement across different touchpoints.

This means you can easily: 

• Deliver personalized communication and experiences tailored to individual preferences. Whether it’s sending targeted product recommendations, personalized offers, or tailored marketing messages, your brand can leverage unified customer profiles to deliver relevant and timely interactions.

• Streamline operations. By consolidating customer data into unified profiles, you eliminate the need to switch between multiple platforms to access information. This streamlines operations, saves time, and improves efficiency, as there’s no longer a need to piece together data from disparate sources.

Conclusion

Maximizing the impact of a loyalty program means choosing a platform provider that’s not only capable of boosting engagement, but integrates seamlessly into your existing stack. 

With a provider like Okendo, your brand can start its journey towards sustainable growth, strengthened by robust customer data, streamlined operations, and personalized experiences that foster lasting customer loyalty. By leveraging our customer marketing platform, you can navigate the modern marketplace with confidence and pave the way for enhanced customer advocacy, consistently great experiences, and tangible business growth.