All You Need To Know About Loyalty Management by Salesforce

By Rajat Kesarwani| Thursday, February 25, 2021 16:20 PM | 4 min read

The global leader in CRM - Salesforce announced Salesforce Loyalty Management, enabling businesses to provide more personalized experiences, evolve their loyalty programs to stay current with Customer expectations, and help develop business. This eventually will point to improved customer satisfaction and revenue-generating loyalty programs.

By providing a manageable, configurable, and efficiently deployable solution that fits their particular loyalty, Salesforce will help B2B and B2C companies across industries, including retail, consumer goods, manufacturing, travel, and hospitality needs. Salesforce Loyalty Management is also combined with Tableau and Service Cloud, enabling you to produce a connected loyalty experience over the entire customer journey using clicks, not code.

The Loyalty Management program is built on the Salesforce Customer 360 Platform, and with this, customers can quickly sign up for loyalty programs through Salesforce Experience Cloud. Companies can send customized content and information to customers with Marketing Cloud and Customer 360 Audiences.

What Capabilities do Loyalty Management programs offer?

Flexible and complete loyalty platform: Loyalty Management is built on the Salesforce platform so businesses can design different programs to satisfy their needs. Companies can flexibly earn and redeem rewards programs, whether that is a tiered membership program or points per purchase. Let’s say you own a hotel; with this program, you can easily customize offerings to each local market to account for different experiences and amenities, such as tickets to a local professional sports game or a winery that offers tastings, and develop these offerings over time based on reputation and seasonality without having to edit code or update old-fashioned back end systems.

Personalized loyalty offering to increase business value: With the Salesforce Loyalty Program, businesses can target different segments of their member base to ensure that offerings to consumers, business customers, or partners feel unique and customized to the industry and their customer base. It also helps businesses pull in their customer data – including marketing interactions, purchase history, and website visits to create a unified view of the customer and inform the personalized promotions they receive.

Integrate loyalty during the entire system with a unique source of fact: Because loyalty management is integrated into the Salesforce Customer 360, customers can quickly sign up for loyalty programs within Salesforce Experience Cloud, and businesses can send customized content and information that can integrate external systems, like a customer data platform, with APIs and integrate third-party solutions from Salesforce AppExchange, such as geolocation-based information for when a customer is near a store, to improve their Loyalty Management Program.

Monitor loyalty program accomplishment: With Tableau CRM for Loyalty Management, companies can control program performance, member acquisition, and engagement, and partner performance in a dashboard. As business and customer needs improve, Loyalty Management enables companies to decide the best way forward and improve their programs, including promotions and offers, based on real-time data. For example, a retailer can identify when their members aren’t using the points and offer them new incentives to redeem points to reduce the company’s point liability.

Why Does Customer Loyalty Matter?

It might seem like getting customers should be your top strategy when it comes to marketing. But, good customer loyalty is a significantly more productive avenue to attempt.

For one, it costs five times as much to get a new customer as it does to preserve an existing one. Additionally, loyal customers spend 67% more than new customers, and they are significantly more likely to refer other customers. Finally, US companies miss out on $135.8 billion per year due to avoidable customer switching.

There are plenty of reasons to make customer loyalty a priority when it comes to your marketing efforts, particularly during the COVID-19 Pandemic that has seen one in three US consumers trying a new brand for the first time, and 80% of them planning on sticking with it.

Should you Choose Salesforce for your business?

If you own a business and look for a CRM, we highly recommend you consider Salesforce, a global leader in CRM. Salesforce offers extensive characteristics with an unlimited array of third-party integrations and a support team ready to help with any queries that might arise.

David Schmaier, the CEO, Salesforce Industries, said, “Companies with high levels of customer loyalty beat their competition, so it’s important to give their customers valuable and interesting experiences to develop trust. “Salesforce Loyalty Management allows businesses to improve their loyalty programs from a traditional to a human-centric method able to create personalized, relationship-building moments with every customer,” he added.

At Dreamstel Technologies, we are excited about the prospect of companies integrating Salesforce Loyalty Management and Tableau, providing them with new insights to effectively measure program performance, member acquisition and engagement, and partner performance in a dashboard. We are looking forward to helping our customers explore Loyalty Management’s capability, so they can continue to enhance their customer loyalty experienced. The loyalty management is available by the end of February 2021. Contact our experts today to know more about Salesforce Loyalty Management.