Thanks to Venkat Ramana Bhat, Senior Principal Product Manager in the Oracle Siebel CRM team, for providing a detailed insight to the latest Siebel Loyalty innovations. Starting with the Oracle Crowdtwist integration, available with the Siebel CRM 22.1 Release Update.

Fact #1: Typically, we think of loyalty programs only in terms of transactional-based rewards—as just a points-and-rewards activity.

Fact #2: A paradigm shift is underway—Organizations need to start thinking beyond the point of transactions and track behavior for different kinds of engagement.

Fact check: Historically loyalty programs have been static, spend-and-get programs that only provide incentives and rewards for past purchases. But customers are increasingly looking for recognition and reciprocity at every interaction point, not just during a transaction. The shift to engagement-based loyalty programs and increased need to offer personalized customer experiences are all converging to set the stage for this opportunity.

The underlying question: How can organizations deliver personalized engagement and extend loyalty and reward programs that promote continued engagement and spend?

The answer: When building a customer loyalty program, work to ensure that it has the following characteristics:

  • It captures data every time customers engage with your brand that can be used to personalize interactions and offerings
  • It allows organizations to interact with your customers beyond the purchase activities and add surveys, polls, quizzes and, social connections
  • It offers diverse reward offerings including sweepstakes, digital downloads, coupon codes, code redemption, automatic rewards, and more

Which leads us here: How do you evolve from “spend-to-get” programs to loyalty programs with an engagement focus?

You need to: Create meaningful relationships with your customers that extend beyond one-dimensional transactional interactions.

How do you do that: If you’re looking at either a transactional loyalty solution or an engagement-based solution, a complete suite that joins both functions together is the way to provide both creative opportunities for members to engage with the brand and equally appealing opportunities to redeem points.

The bottom line: Delivering engagement-based loyalty programs isn’t a matter of if, but rather ‘when’, and ‘who’ is able to grasp new opportunities. A recent analysis by Capgemini found that consumers with high emotional engagement buy the brand 82% of the time whereas consumers with low emotional engagement buy it only 38% of the time. 

Get started: Oracle powers the most innovative and engaging loyalty programs across industries, including retail, consumer goods, manufacturing, travel and hospitality. Using Oracle Integration Cloud, Oracle brings together Siebel Loyalty and CrowdTwist , and ensures that customers get the best of both worlds—the modern engagement capabilities of CrowdTwist and the comprehensive transactional capabilities of Siebel Loyalty in one integrated solution. With an integrated solution, many functions that span the customer loyalty lifecycle—earning, burning and lifecycle programme engagement—work better together to empower staff and deliver an experience customers crave across every touchpoint. 

Take the case of a cross-industry loyalty program. Once deployed, the Siebel Loyalty integration with Oracle CrowdTwist, enables organizations to discover these value additions:

  • Deepen relationships and make every customer interaction matter—including nonpurchase activities
  • Improve customer retention rates with adaptable programs tailored to the needs of the customer
  • Understand your customers’ true lifetime value by merging customer loyalty program activity and redemption data with engagement data
  • Transform progressively with a risk-mitigated approach that will give you least amount of disruption to the existing programs’ structure and configuration

Siebel Loyalty and Oracle CrowdTwist – a winning combination.

To learn more, feel free to visit the Oracle Crowdtwist webpage or message us to have a conversation. Technical details of the integration are available in Oracle iLearning.