Salesforce Loyalty Management System

2020 was the year of changing trends, needs and demands across the globe. The year was particularly challenging for brands trying to offer personalized experience to customers. Apart from dealing with the changing demand and supply, customer loyalty was at stake for all brands globally.

Brands did their best to offer what their customers are looking for. They not only rolled out new schemes to attract new customers but launched subscription schemes, loyalty offers, levelled up their online presence, offered quicker logistics, and much more to take care of their existing customer base.

With the vision to let brands continue and strengthen an initiative to help brands, both B2C and B2B, Salesforce has recently launched loyalty management tool kit. This would enable brands to build and customize loyalty programs. This new product is for all companies across industries including retail, consumer goods, manufacturing, travel and hospitality, to increase customer trust and engagement.

Salesforce Loyalty Management Service leverage Customer 360 platform, which we all know is the platform to create a single customer profile by collecting all customer data and bringing it at one unified place. Customer 360 aims at removing data silos, allowing brands to improve customer engagement.

Every customer always and even now want a personalized experience where they feel that the brand knows them, recognizes them and offer them recommendations on the basis of their past interactions with the brand.

Some of the key metrics for customer loyalty programs involve:

• Customer retention rate: An indication of the duration for which customers stay with you. In a successful loyalty program, customer retention should increase over time as the number of customers grow.
• Negative churn: Churn indicates the rate at which customers disassociate themselves with the company. A negative churn indicates that customers stay with your brand by upgrading or increasing their purchases.
• Net Promoter Score: The degree to which people would recommend your company to others is the net promoter score. It measures customer satisfaction on a scale of 1-10.
• Customer Effort Score: The specific effort customers have to make to solve a problem with the brand should be low as it measures the overall experience of the customers.

In the words of David Schmaier, CEO of Salesforce Industries, "Customers join loyalty programs for the promise of a more personalized, relevant experience but too often encounter a generic approach that is broadly applied to every member. Loyalty Management allows companies in all industries to evolve their loyalty programs from a transactional to a human-centric approach capable of creating personalized, relationship-building moments with each customer."