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Coalition Loyality Program
Companies work hard to keep their customers -- and their wallets -- securely under one roof.
As loyalty strategies continue to evolve, brand marketers should start rethinking how they look at their loyalty-based customer engagement efforts. Brands should (and have already begun at some levels) teaming up with like-minded companies from a wide range of industries to provide a larger array of incentives and benefits to their customers.
This is what our business is based on. To bring together various business into a single loyalty program.
Coalition loyalty a business model on which our product is based goes beyond simply trying to cross-pollinate audiences. Participants in a coalition loyalty program usually come from diverse industries that often have little customer overlap and include brands from many verticals.
This kind of diversification solves a frequency problem for brands that don't see their customers often. In addition, it solves a brand affinity problem for companies and products that are seen as transactional, or elicit little emotional attachment.
1. Increase social and online activity. Since our platform is centered around an online account where users can track past activity and points, I have easily build in features and incentivize relevant social media activity, web browsing, interaction with branded content, and provided product reviews and feedback. All of these actions are valuable because they result in increased direct interaction with each brand. This is on the app that the use shall be able to download. This app will also serve as a financial advisory app about spending and earnings of a customer.
2. Tie incentives to data. On the incentives side, companies will use what they know about users and their buying habits to greater effect.
By tying incentives to geographically specific data, or by personalizing offers and rewards based on past purchases, the incentives become more relevant, timely, and valuable to audiences.
By promoting and capturing these kinds of activities while improving the relevance of incentives, coalitions will stay on the leading edge of loyalty and provide a truly multichannel, holistic experience that improves customers' lives.
From a business perspective, our coalition program offers a number of benefits: Funding requirements (and risks) are split between multiple companies and don’t all fall on one organization. Businesses can share customer data -- about preferences, lifestyle and demographics, for example. The increased value of multiple incentives may attract new customers to businesses they wouldn't ordinarily patronize. Partners can benefit from cross-promotion and combined deals.
How we shall make money:
- Buy points (for rewards) for less than you sell points to retailers Hold the large float in an investment account that makes a good return.
- Sell additional services (marketing, analytics, IT) to the businesses that belong to your scheme.
- Sell similar services to non-member businesses (effectively becoming a list broker).
- Have a premium membership tier with paid entry
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