2023 Q1 Open Loyalty product update

In Q1, the Open Loyalty team has successfully delivered several key updates and enhancements to our platform, all focused on maximizing the value we bring to our customers - such as:

• Campaign triggers based on achievement progress: Enabling our customers to create targeted campaigns based on their members' progress towards specific achievements; encouraging higher engagement, and further strengthening their brand loyalty.
• Global limit settings for loyalty currencies: Driven by the desire to provide our customers with greater control over their loyalty programs, we have implemented global limit settings for loyalty currencies, facilitating effective budget management and abuse prevention.
• Business intelligence data export: With the addition of the S3 BI data export feature, our customers can now seamlessly integrate their loyalty program data with their existing BI tools, enabling comprehensive data analysis and informed decision-making.
• Badges and member attributes as campaign effects: We have expanded our campaign effects to include the ability to give badges or set member attributes, expanding our customers; range of options with regards to personalizing their loyalty campaigns and recognizing member achievements.
• White-label mobile application: Our new white-label mobile application enables our customers to customize the look and feel of their loyalty program's mobile experience, ensuring a consistent and branded user experience that aligns with their brand image and marketing efforts.
• Dashboard analytics - general overview: The introduction of enhanced dashboard analytics offers a general overview of key metrics and trends, equipping our customers with valuable insights into the performance of their loyalty programs, thus helping them to identify areas for improvement.
  

Below, we go into more detail as to the above-mentioned updates, so you can get a feel for how they can benefit your business and bolster your brand image.

Campaign triggers based on achievement progress

This functionality allows program owners to reward and engage customers every time they get closer to reaching an achievement. Rather than waiting for customers to complete a challenge, you can now offer smaller rewards for partial completion. This feature reinforces target behaviors and keeps your program at the forefront of your customers’ minds. 

Some key use cases of this functionality include:

• Rewarding members with a badge or a coupon for 2 out of 4 monthly transactions
• Offering different cashback tiers depending on a members’ total spend, e.g. 1% for a total monthly spend of $0-99; 1.5% for $100-299

Global limit settings for loyalty currencies

Budgeting and fraud prevention are critical components of loyalty program management, especially during times of economic uncertainty. To help you better manage these aspects, we have created  "global limit settings". This allows you to set weekly, monthly, annual, or member-specific limits whether that be the wallet or the program itself. A such, you can set limits on points wallets to cap loyalty campaign budgets and daily limits per member to prevent fraud.

• Setting a limit of 10000 points a month for a points wallet to cap the budget of loyalty campaigns based on points
• Setting a daily limit of 200 stars per member to avoid fraud

Business intelligence data export

The functionality allows you to export your campaign data to an S3 bucket in CSV format. What’s more, it also makes it easier for you to manage and analyze your campaign data, as the data can be easily downloaded for further analysis or integration with other tools.

With this feature, you can also export data related to Campaigns Usage, Members, Campaigns, and Tiers. This includes information such as campaign name, member name, tier level, campaign start and end date, and campaign status. By exporting this data, you can get a better understanding of how your campaigns are performing and how your customers are engaging with them.

Exporting data to S3 is a simple and efficient way to manage large datasets, as it provides a scalable and cost-effective storage solution. You can also use other tools to analyze and visualize the data, such as Tableau or Power BI, granting you access to valuable insights, and make data-driven decisions.

In summary, the use cases of the ability to export to S3 feature allows you to:

• Easily export your campaign data to an S3 bucket in CSV format
• Analyze and manage large datasets efficiently
• Gain valuable insights into campaign performance and customer engagement
• Integrate the data with other tools for further analysis and visualization.

Give badges or set member attributes as campaign effects

It hardly bears repeating that personalization is key to delivering excellent customer experiences, while advanced segmentation is now more important than ever. With our new campaign effect functionality, you can now give, update, or remove custom member attributes. This includes the introduction of badges, which can be used to reward users and facilitate segmentation. The feature also means you can reward customers with badges for meeting specific criteria, segment based on badges or other automatically assigned customer attributes, and set new member attributes to trigger subsequent marketing campaigns.

Some key use cases of this functionality include:

• Awarding a customer with a badge after meeting specific criteria e.g. a “Big Spender” badge to customers with a monthly spend of $500 in the Golden tier
• Segmenting based on badges or other automatically assigned customer attributes
• Setting a new member attribute as an effect of the campaign to trigger subsequent marketing campaigns e.g. mark a customer “vegetarian” to display relevant dietary offers
• Updating member attributes to track and display them later, e.g. update an existing member attribute with an additional value of 15,000 steps taken in the past week
• Saving additional information on member profile, such as the day campaign was last activated

White-label mobile applications

This new product has been designed (and continues to be iterated, as needed) to enable our clients to enhance customer engagement and loyalty with a customizable mobile application framework that can be tailored to meet their specific needs.

Our white-label loyalty application framework is built on Flutter technology, which allows for seamless compatibility with both iOS and Android devices. With this framework, clients will have full access to the source code and can customize the application to match their brand identity.

The loyalty application comes with a range of ready-to-use features, including reward catalogues, tiers, point transfers, campaign lists, and transaction history. These features can be easily integrated with the application to create a unique and engaging loyalty program that will strengthen customer relationships and boost sales.

Dashboard analytics - general overview

Measuring success and reporting it to stakeholders are two crucial elements of loyalty program management. After all, how else are you going to know whether you’re on the right track or what strategic decisions you should take next to propel your brand forward? 

To help our clients stay on top of their most important metrics, we have added a new report to the loyalty manager’s dashboard. With the general loyalty program overview, loyalty managers will now be able to:

• Track all key business metrics like number of new members, active members, revenue, average spending, average transaction value, or number of transactions per member
• Monitor how key metrics change over time 
• Filter metrics and graph by various date ranges 
• Report on the performance of the loyalty program fast and with confidence

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These deliverables showcase our commitment to continuously growing our platform, and so ensuring that Open Loyalty remains a leading solution for businesses seeking to build and maintain strong customer loyalty relationships.

We believe these updates will help you find new ways to improve and expand your loyalty program. For more details on these new features, including some use case examples, please visit our website. Don't hesitate to contact us if you have any questions or need assistance in implementing these features into your program.

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