They claim that first impressions matter greatly. Making a strong first impression is something that businesses want to do. Due to the fact that every business wants to provide its customers with the best experience possible, Antavo’s loyalty experts frequently receive inquiries asking when the ideal moment is to establish a loyalty programme.
However, the solution is more involved than simply marking a date on your calendar. Even though it may sound cliche, your company needs to be mature enough to ensure the introduction of a loyalty programme. Here are a few of the most crucial elements in choosing the appropriate date.
How to Choose the Right Date on Your Calendar
Your peak season should be taken into account when organising the launch of your loyalty programme. Which season of the year has the most traffic, according to you? Do you have any important shopping occasions in mind, like Black Friday, Christmas, or Valentine’s Day? It goes without saying that introducing a loyalty programme ahead of a busy shopping season will help you stand out from the competition since people will flock to your business to take advantage of the gleaming, new rewards programme.
It would also make sense to launch your loyalty programme at a time of year when things are less hectic. There is less of a marketing bang in this scenario, but you will still have plenty of time to test the waters, determine community interest, and make some modifications. With this strategy, users can learn more about the programme and even spread the word on social media, which will increase the number of members you have.
Integration Time Depends on Scope
Whatever strategy you find more appealing, having a strong MVP is essential for success. After all, if you deliver the essential elements on schedule and then keep adding new features to them, you can’t go wrong. But take my word for it: scoping is how an MVP lives and dies. Why does that matter? You must identify all the important factors before beginning the planning process.
This comprises, but is not restricted to:
languages, countries, and currencies
Elements of structure like programme type and point value
The program’s look, feel, themes, and names, as well as its tiers and currencies
What types of prizes will be offered
Choosing whether to begin with a mobile app
A strong scope makes it simpler to create a budget plan and integration schedule, as well as to find the ideal loyalty technology supplier. If you want to launch before a major retail holiday, the timing is especially crucial because there is less likelihood of unanticipated delays when the scope is rock-solid.
Getting Ready for a Business Loyalty Program Launch
“Perfect timing” for a loyalty programme introduction considers the present stage of an organization’s development in addition to a certain day on the calendar. Simply defined, businesses must develop to a particular level of maturity and preparation before they can truly profit from a reward system. Your ability to develop a thorough scope directly connects to your maturity since, in order to map out the proper reward path, you must be knowledgeable of your business’s primary strengths, your core audience, and their needs and goals.
The availability of staff for the program’s administration is another factor in organisational development. You cannot cut corners on this because an internal development and strategy team is necessary to independently design a programme. It is very expensive to hire a company to implement and run it on your behalf if you don’t want to do it alone. Or you may choose the cosier middle ground—a no-code loyalty platform that integrates quickly and requires little assistance from the IT department. Then, all you have to do is hire a group of CRM professionals to oversee your campaigns and rewards.
Organizational Requirements to Consider
If you’re prepared to start a loyalty programme, you should also consider the following factors:
Possess you a data strategy? The foundation of a rewards programme is customer information, which enables you to properly customise the programme.
What KPIs are the most crucial to you? You can utilise loyalty programmes for community building, acquisition, and retention, but you must choose and customise the features carefully.
What vertical do you belong to? Businesses with a high purchase frequency should take into account gamification and earn-and-burn systems, whereas luxury brands profit most from focusing on privileges and experiential tiers.
When Will Your Loyalty Program Begin?
Hopefully, you now have a clear idea of when to introduce the ideal loyalty programme. The likelihood that your launch will be successful is great if your organisation is prepared and you have a clear idea of its scope.
If you still have concerns or would like to learn more about how Antavo’s no-code loyalty platform can make your loyalty concept a reality, please contact our experts by scheduling a demo or submitting us an RFP.