Cross-Channel Loyalty TechnologySource: Zebra Technologies
Retailers need to incorporate traditional loyalty technology with emerging technology for a seamless loyalty experience. When it comes to core customer loyalty, retailers are transitioning towards an integrated approach to technology. Twenty-four percent (24%) of retailers currently utilize a centralized cross-channel customer loyalty platform, and nearly a third (62%) of retailers have indicated plans to adopt this technology (Figure 6). The centralized loyalty platform encompasses consumer insights, offer creation, offer redemption, and performance metrics reporting. This tool allows the retailer to aggregate all loyalty information across all channels of operation, with a single view of the customer and their purchase and interaction behavior.
This information can then be utilized to create tailored loyalty offers depending on the type of the customer the retailer is targeting: lapsed, high spending threshold, high discount percent, etc. Retailers indicating they utilize a centralized cross-channel loyalty platform are reporting significant benefits, including:
- 20% increase in customer retention rates (compared to 8% for all others)
- 15% increase in customer re-activations rates (compared to 4% for all others)