The focus of 2020 will always be remembered as the year of COVID and all of its affects on our lives and businesses. Nobody could have predicted several month long quarantines, work from home set ups, and unending zoom calls as the day-to-day norm. This means that in 2021, the focus of the year should be coming back from the setback nobody saw coming- the COVID-19 pandemic and its transformational societal affects.
Stephen Cook, board member of the Incentive Research Foundation, shared that in uncertain times, leadership must double down on retention. Using a loyalty program to build a fence around your current customer base will reduce the churn and allows you to reward your customers for their loyalty during such unpredictable times. It is, however, important for leadership to realize that communication with and appreciation of the audience are the key to success when it comes to retention. The process of gaining back your desired audience is far more costly and less effective than creating a loyalty program to reward them in the first place.
Although we are not entirely out of the woods when it comes to COVID-19, hope is on the horizon with the implementation of 3 different COVID vaccines available to the public. Slowly but surely, we are bound to go back to our normal lives. But unquestionably the prominence of digital workplace environments is here to stay. This means the utilization of a white label Digital Loyalty Platform is the key to reaching your audience during the recovery. Being able to more deeply and pervasive engage customers, virtually fulfill rewards orders of Gift Cards, issue points or SPIFF funds to re-loadable debit cards, and send out thoughtful, relevant messaging is key. A digital platform can also provide you with groundbreaking reporting and key metrics when it comes to your audience. You can even use your platform to “make your customer base your new sales channel” by activating a Referral feature, whether it be solely a Referral Program or an add-on to a Loyalty Program.