By Russ Harty, SVP Key Accounts and Partner Channel, Merchant Warehouse
Resellers looking to add value for merchants should explore all of the possibilities for loyalty programs brought about by the proliferation of mobile payments and other commerce applications. Merchants value loyalty programs because they allow them to build relationships with customers over time, exchanging valuable data for a better, more personalized customer experience. Consumers value loyalty programs because they are able to get deals, discounts, and offers that they would otherwise miss out on in exchange for visiting their favorite stores. All that’s left is for resellers to identify the right loyalty programs to offer that increase the value for everyone who touches the transaction.
Every successful loyalty program solution needs four main elements:
Convenience is key for both the merchant and the consumer. Loyalty programs have historically been the pinnacle of inconvenience. Remembering to carry around loyalty cards, stuffing your wallet or keychain with them and sifting through to find the right one … Add it all up, and the loyalty experience to date has been less than stellar. However, mobile has the power to change that. With the best-designed mobile payments and loyalty apps, consumers can use loyalty programs easily — sometimes without even taking their smartphones out of their pockets. Merchants, in turn, can accept them quickly and painlessly using contactless technology or QR code scanners. This kind of convenience can’t be overstated. Avoid any loyalty solutions that add an extra step to the process or require a lengthy sign-in process for merchants or consumers. These are likely to deter anyone from using them.
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