It’s really important to give preference to the right type of loyalty programs in automotive industry and other areas, so it’s important to find out their task: an increase in the check amount or an increase in the frequency of purchases. The selection of several goals at the same time will lead to the complication of the loyalty program (LP) conditions and more difficulties for clients to use it.
LP choosing is a very complex process that requires careful analytics and marketers with high professional competencies who can correctly determine the concept and prepare informed decisions. An incorrectly LP is the company’s lost money that can’t be perceived as an investment in the client and his/her loyal attitude to the enterprise and brand. A separate task of any LP is to obtain information about the client, analyze his/her current behavior within the enterprise, and most importantly, predict future desires and interests. This is precisely the task that should be performed by an LP, even in those enterprises that are retail market monopolists.
What does it consist of?
The main stages of LP creation:
● Determine the goals of the program according to industry special aspects.
● Develop discount schemes and conditions for issuing cards.
● Choose a technological platform for the CRM system.
● Identify technology and software vendors.
● Evaluate the LP economically.
● Conduct legal due diligence.
● Develop a brand platform for the program and prepare a set of promotional materials.
● Train the staff and put the program into operation when the platform is ready.
● Evaluate the results of the trial operation and, depending on them, expand or refine the LP.
According to conservative estimates, the simplest LP will cost at least 80 000 US dollars. This amount includes the development of an IT platform, the creation of a brand LP, and payment for the services of an HR agency to search for employees who will serve all this. Monthly expenses for the LP are formed from 2 main parts: maintaining the CRM system and investing in its development. Budgets can be completely different and depend on the goals and business objectives.As you can see, the classic way of LP development is long, hard, and expensive, so it’s recommended to pay attention to the innovative white label solutions made by M-Loyalty Company (https://walletfactory.com/en-de/white-label-loyalty-app/). Everything is already made and quickly adjusted to the business peculiarities, so it becomes easy to develop and launch the mobile app. Visit the M-Loyalty website and find all the information online. The LP will always be in the customer’s smartphone and the company’s professionals will be ready to support the product along the way, correct it, and periodically improve it, adapting to the wishes of the client and the customer company itself. M-Loyalty knows that it’s really important to explain to the consumer in an accessible language all the benefits of a purchase or other action in the digital software, so it does everything properly.