During the first quarter of 2024, the Open Loyalty team introduced important updates and enhancements to our platform, with the goal of helping our partners improve their loyalty programs.
Here are the latest enhancements:
Import data from other platforms into custom segments that power up personalized campaigns
Daily time-based campaigns that give you continuous opportunities to engage members
Grant users points that expire, creating a sense of urgency
Nudge users into performing desired actions by using tiers with multiple conditions
Easily track program performance over time with historical charts
Track points usage and detect issues early with six new wallet statistics
Note from the Open Loyalty team
“At our core, we understand that data fuels every loyalty program. Our latest feature, enabling the seamless import of data from various sources with API into custom segments, underscores our commitment to personalized experiences. In today's landscape, where every loyalty platform thrives on data, ensuring smooth ingestion and synchronization between systems remains a pivotal challenge we're dedicated to overcoming.”
Cezary Olejarczyk, CEO
Feature 1) Import data from other platforms into custom segments that power up personalized campaigns
The loyalty mechanic
Custom member segments provide a tailored approach to organizing your customer base, enabling highly personalized campaigns aligned with your business goals.
What’s new
Seamlessly import custom segments from external databases using a CSV file, either from the admin panel or by using API.
Why it matters
Businesses can import their existing customer data from CRMs, CDPs and other platforms into OL, saving precious time. By using API, businesses can also automate the data migration to fit their needs.
These precise custom segments, in turn, allow tailored campaigns that enhance member engagement.
How it works
Export member data from your platform of choice, edit it if necessary, and then import the CSV file into OL (via the admin panel or via API) as a custom segment. You can select the most suitable unique identifier for that file – whether it's ID, loyalty card number, email, or phone number.
Retail: A retail chain wants to target its high-value customers with exclusive offers based on their purchase history. By importing custom segments from its CRM database into Open Loyalty, the chain can efficiently tailor promotions to each customer segment, driving higher engagement and loyalty;
E-commerce: An online retailer seeks to increase customer retention by offering personalized discounts and recommendations. By importing custom segments based on browsing behavior and purchase patterns, the retailer can deliver targeted marketing campaigns through Open Loyalty, fostering stronger relationships and driving repeat purchases;
Finance: A bank can boost loyalty by importing spending habits and investment preferences into Open Loyalty. This enables tailored financial advice and rewards, fostering better saving and investment habits among customers for lasting loyalty;
Fuel: Gas stations can enhance loyalty by importing fuel usage data into Open Loyalty. Tailored rewards, like discounts on fuel or free car washes, attract specific customer segments, driving repeat visits and engagement.
Feature 2) Daily time-based campaigns that give you continuous opportunities to engage members
Loyalty mechanic
Open Loyalty allows you to create and manage loyalty program campaigns by mixing and matching multiple loyalty mechanics.
What's new
Campaigns that activate automatically every day. They are part of a wider feature being rolled out gradually: time-based campaigns.
Why it matters
Time–based campaigns offer versatility in engaging customers with tailored rewards, enhancing loyalty efforts.
How it works
You can set up daily campaigns easily within Open Loyalty's platform, specifying parameters such as points distribution and target audience.
Daily point allocation: Implement a daily reward system where all members receive 10 points each day, fostering consistent engagement and loyalty across your customer base.
Tier-based rewards: Elevate the experience for premium members by granting 15 points daily to Gold-tier members, reinforcing their loyalty and incentivizing continued patronage.
Promotional QR code incentive: Run a time-limited daily campaign during April, offering 30 points to users who scan a designated QR code each day. This will stimulate participation in promotional activities and boost engagement levels.
Feature 3) Grant users points that expire, creating a sense of urgency
Loyalty mechanic
Open Loyalty's wallet feature enables the creation of multiple types of points wallets, which can be used to reward users with virtual currency.
What's new
Points can now be set to expire after a set chosen amount of time.
Why it matters
Expiring points introduce a sense of urgency, encouraging users to utilize their points promptly.
How it works
The program manager can set up certain points in a wallet to expire after a certain amount of time. The same wallet can contain points in multiple situations: points that are permanent, points that expire at the end of the day, points that expire 1 year from the transaction, and so on.
Seasonal Promotion: Launch an Easter Sale campaign where customers receive 500 points upon logging into the app during Easter. However, these points expire at the end of the day, motivating shoppers to use them promptly. This prompts increased store visits and encourages customers to combine points with real money for purchases;
Limited-time Offer: Create a time-sensitive promotion where customers earn bonus points for making purchases within a specific timeframe. For instance, offer double points on all purchases made within a week, with these bonus points expiring after the promotional period. This drives immediate sales and boosts customer engagement during the promotion;
Product Launch Incentive: Incentivize early adoption of a new product by offering bonus points that expire within a short timeframe. For example, customers who purchase the new product within the first week receive extra points that expire within a month. This strategy encourages quick adoption of the new product and drives sales during the launch period.
Feature 4) Tiers with multiple conditions to nudge users into performing desired actions
Loyalty mechanic
Open Loyalty enables the enrichment of campaigns by categorizing members into tiers. Members are compelled to perform chosen actions to advance tiers and receive rewards.
What's new
Tiers can now require multiple conditions so that the users attain them.
Why it matters
Multi-conditional tiers give loyalty managers more tools to nudge members to perform desired actions. By allowing up to eight conditions, tiers can address even the most complex use cases.
How it works
When creating a tier, the admin can now choose up to eight conditions based on active units, total units, and months since they joined the program – all conditions must be met for the member to advance.
Progressive reward system: Implement a tier structure where members start at the "Starter" tier by default. As they accumulate points in their wallet, they advance to higher tiers such as "Silver," "Gold," and "Diamond," unlocking progressively greater rewards and privileges.
Longevity and loyalty recognition: Introduce tier criteria based on membership duration and points held to recognize and reward loyal members. For instance, members who have been with the program for over six months and hold at least 50 points qualify for the prestigious "Senior" tier, receiving exclusive benefits as a token of appreciation for their commitment.
Nudging users: Establish tier criteria tied to specific actions to encourage active engagement and point accumulation. For example, members who have earned a total of 300 points and maintained a balance of 100 points for at least six months qualify for the elite "VIP" tier, unlocking premium perks and incentives.
Feature 5) Easily track program performance over time with historical charts
Loyalty mechanic
Open Loyalty enables advanced loyalty analytics so you can track and improve the performance of core parts of your loyalty program.
What's new
When examining charts in several dashboards, users will now find data from the previous period for easy comparison.
Why it matters
Access to historical data simplifies informed decision-making by allowing loyalty teams to identify trends, patterns, and areas for improvement within their loyalty program.
How it works
Past data is available in three dashboards: General Overview, Units Wallet Overview, and Campaign Overview. It is presented subtly and clearly as dashed lines, ensuring ease of interpretation. This feature is available across various date ranges, enabling detailed comparisons.
Comparative Analysis of Points Spent: Program managers can analyze member points spent for the current week and compare them with the previous week's data on a day-by-day basis. This allows for a nuanced understanding of changing redemption patterns over time;
Revenue Evaluation by Period: By examining program revenue for the current month and comparing it to data from the previous month, users can track daily fluctuations and identify factors influencing revenue generation;
Assessment of Transaction Trends: Users can assess the average transaction value for the previous year and compare it month by month with data from the previous year. This facilitates the identification of seasonal trends and fluctuations in customer spending behavior.
Feature 6) Track points usage and detect issues early with six new wallet statistics
Loyalty mechanics
Open Loyalty’s loyalty analytics include the wallet activity of users.
What's new
The wallet dashboard now displays six new statistics for the chosen timeframe:
active units,
pending units,
spent units,
expired units,
redemption rate (percentage of issued points spent),
breakage rate (percentage of issued points that expired).
Why it matters
These updates address crucial optimization queries, such as "Are we adequately rewarding our users?" or "Are points going to waste?"
How it works
Access the the units wallet overview to see history history of different types of units per wallet.
Early detection of issues: By regularly monitoring these metrics, businesses can promptly identify and address any anomalies or inefficiencies within their points system, ensuring optimal performance and customer satisfaction;
Optimization of point allocation: Analyzing the redemption rate helps businesses determine whether they are providing users with an appropriate number of points for their interactions. Adjustments can then be made to ensure that points are neither underutilized nor wasted;
Mitigation of point expiration: Monitoring the breakage rate enables businesses to assess the rate at which points are expiring unused. This insight allows for the implementation of strategies to reduce breakage, such as targeted promotions or reminders to encourage point redemption before expiry.
