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Thanks to the expert contributions from LoyaltyLevers’ tech partner network, we’ve curated the most actionable insights and impactful tips on how to boost loyalty program performance and ROI. Key themes include increased use of zero-party data, subscription-based loyalty programs, B2B loyalty, personalized loyalty programs, gamification loyalty programs and loyalty program partnerships (coalitions).
Personalized Loyalty Programs succeed based on their ability to tailor offers, point earning opportunities and/or rewards based the member’s behaviors and interests. The personalization can take place at a segment level, grouping similar members together and customizing accordingly, or at the individual level based on Artificial Intelligence and Machine Learning. While it is a heavier lift from a technology standpoint, the benefits are significant vs one size fits all schemes because the incentives can be structured much more surgically, and test/learn can be applied to optimize. 7-Eleven’s 7Rewards program has over 55 million US members, and has rocketed to the forefront of the loyalty arena with their innovative program. A big part of that is based on personalization of the experience across all channels.
