The need for customer data platform (CDP) and loyalty solutions is not a new topic. Yet, many brands might not fully recognize or appreciate the power of CDP and loyalty programs working in tandem. Connecting customer data across all internal systems and front-end interfaces is complex; an inability to do so can result in an underwhelming, fragmented customer experience and, in turn, churn and profit loss.
In contrast, brands that deliver a connected experience to customers by leveraging captured data successfully drive customer retention, brand loyalty, and incremental revenue.
Brands that incorporate a CDP-based loyalty program into their MarTech stacks can now access previously untouched customer data. This helps power hyper-personalized customer experiences at every micro-moment; connecting these moments deepens a brand's relationship with customers.
Many brands think of loyalty programs as a means of capturing transactional customer data. Loyalty programs powered by Oracle CrowdTwist also capture demographic, behavioral, and preference data by incentivizing members to complete engagement activities between purchases.
For example, customers can earn points for completing a survey, answering a poll, leaving a product review, or referring a friend; each of these interactions capture customer behavioral and demographic data. This data can be sent in real-time to your CDP and connected with marketing, ecommerce, service, and billing data sources to form a 360-degree view of the customer.
Leading brands retain customers by recognizing them for every purchase they make and every action they take. Omnichannel loyalty and engagement programs reward customers for every brand interaction across all channels, and customers are incentivized to spend more and often through a loyalty program in exchange for perks and rewards. The more appealing the rewards and perks are to your customers, the greater the participation. This dissuades customers from shopping with the competition and increases customer lifetime value.
By not adopting a loyalty program, brands risk losing customers to brands that offer value beyond the transaction.
Through CrowdTwist and Unity technology, brands can easily build and launch loyalty programs that resonate with customers and keep them engaged and spending with the brand.
Personalizing at every touchpoint across all channels is essential to delivering a connected experience. For example, in your loyalty program communications, include your customer's name, tier status, redeemable points balance, and any product recommendations or promotions you know they're interested in.
By contrast, for example, sending a "Still interested?" communication after a customer has already completed a purchase or sending them a promotion for a product they're not interested in can create poor brand experiences that drive churn.
Data-driven hyper-personalized loyalty marketing campaigns deliver positive and personalized experiences that successfully drive revenue, engagement, and conversion. Partnering with Oracle Unity and CrowdTwist enables brands to combine loyalty data with data captured across the entire ecosystem for better targeting, segmentation, and campaign personalization.
Recent innovations include deeper integrations between Oracle CrowdTwist and the Oracle Advertising and CX suite to provide richer customer data, better ways to communicate, and more flexible tools for managing and redeeming award points.
Learn more about Oracle CrowdTwist and Oracle Unity's integration and other loyalty innovations here.
Jessica Kaufman is a Senior Product Marketing Manager at Oracle with more than 10 years of industry experience.