Salesforce, the global provider of CRM solutions, has announced Loyalty Management, a new product for companies across industries, including retail, consumer goods, manufacturing, travel and hospitality, to increase customer trust and engagement.
Built on the Salesforce Customer 360 Platform, Loyalty Management allows companies to build intelligent loyalty programmes for both B2B and B2C customers with a flexible, configurable and quickly deployable solution that fits their specific needs. With Loyalty Management, companies can provide more personalised consumer experiences, evolve their loyalty programmes to stay current with customer expectations and help drive business value by creating loyal, lifelong customers.
While loyalty programmes can help companies develop long term relationships with customers and drive growth, many rely on outdated, fragmented technology that fail to provide integrated experiences and are unable to evolve with industry trends, such as the shift from traditional point-based reward programmes to exclusive experiences and products. These loyalty schemes end up offering little value to the business or the customer and actually lower consumer trust instead of increasing it.
“Organisations with high levels of customer loyalty outperform their competition, so it’s critical they provide their customers with valuable and memorable experiences to build trust,” said David Schmaier, CEO, Salesforce Industries. “Loyalty Management allows companies across industries to evolve their loyalty programmes from transactional to human-centric by delivering personalised, relationship-building moments to each customer.”
Ray Wang, Principal Analyst, Founder and Chairman, Constellation Research, said: “As successful loyalty programmes move beyond simple point and redemption exchanges and focus more on early access, experiences and products, existing loyalty solutions have been slow to adapt.”
Wang said customers are looking for a loyalty management product that represents the next generation of loyalty and gives companies the freedom to create, evolve and measure a loyalty programme that is capable of providing personalised and engaging offerings.”