What to Analyse Through a Loyalty Program Software?


Loyalty Program software these days offer rich data to businesses. This data can be used in various ways to make sound business decisions.

Data gathered from loyalty programs is essential, as it gives you a broader picture about what your customers like over a period of time.

Here are a few types of Loyalty program software data you can benefit from:

1. Product type

Loyal or repeat customers give you clear indication of what products or service people are coming back for. You can offer more of similar products or complementary products to your customers.

2. Season or time

You can understand customer behaviour related to the time, day or season they prefer to shop certain products or services in. Such information can be used to promote products at the right time to bring customer back or to encourage potential customers to buy with you.

3. Prices

Price points that your loyal customers prefer is a great indication of the what your target market likes. You can experiment with different price points to see what expands your target market and revenue.

4. Reward type

Data on which rewards brings in more customers can be useful. You can do A/B testing on reward types and see which reward kinds work more for your target market. Your customers should see value in the rewards you offer—monetary, value-based, prestige-based, etc.

5. Demographic

Loyalty program software data can help you understand the demographics including age, location, gender, marital status, etc. of your target market segments. Detailed study of those customers can help you understand the products, time, prices and rewards they prefer.

With such Loyalty Program software data, you can enrich your understanding of the market and optimise product offerings, marketing effort, operations and loyalty programs, as per customer preferences.

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