Loyalty Points Programs
Loyalty Points Program is a practice that is used to encourage and reward customers thus stimulating them to a loyal buying behavior as well as a retention technique. Points can be considered as virtual currency which can be exchanged against goods and services.
With the rapid changing market conditions – new technologies being introduced and the dynamic behavior of the market consumer, it is a challenge to keep the customer loyal to a brand for a long time.
Sixth Sense Media responds to the above market challenges by offering a unique solution (Customer Retention Platform), which goes beyond other competition offerings, by acting as a strong loyalty program enabler and additionally as an enabler for different promotions and campaigns. The promotions and campaigns can be linked to the points program (E.g. stimulate the usage of the program) or independent (E.g. a way to stimulate recharges or data services consumption).
Sixth Sense Media Customer Retention Platform is a generic product specially targeted for rapid deployment of
marketing promotions and programs.
Sixth Sense Media Customer Retention Platform is a framework to launch any new loyalty points promotion and campaigns with:
- No impact on existing BSS / OSS infrastructure
- No expensive SW development and vendor CRs
- Very fast time to market
- Very low TCO
The concept behind the Sixth Sense Media Customer Retention platform is to allow operator to own a centralized solution for managing the activities intended to increase the loyalty of their subscribers.
A Telco has no way of differentiating and understanding which customer is better and who is not without tracking their behavior, quantifying their activities and profitability. Telco needs to differentiate the more profitable customers and treat them better. The idea is not to treat the less profitable customer badly but to treat more profitable customer better. The Sixth Sense Media Customer Retention Platform is the right tool to help Telco’s drive retention as well as revenues using the loyalty program as a medium.
Loyalty Partners Program
Loyalty strategies need to be designed to inspire customer engagement, brand choice and advocacy. The current loyalty points program being offered by the Telcos has become commoditized and there is nothing stimulating in these programs to keep the customer happy. Churn continues and customers are moving from one Telco to another primarily driven by the offerings that are in the market.
With the rapid changing market conditions – new loyalty programs need to be introduced to keep the customers happy and motivated to continue their engagement with the Telco. There are two types of loyalty membership programs in vogue today: proprietary loyalty programs, the most common, where customers generate points by doing business only with the Telco that owns the program; and coalition (aggregate) programs in which customers generate points by doing business with any number of companies participating in the program.
Sixth Sense Media responds to the above market needs by offering a “Partners Program Module” as part of the Customer Retention Platform focused on extending the existing loyalty points program to 3rd party partners.
The “Partner Program Module” enables the marketer to:
Define new partner and enterprises
Manage their details
Define new services
Assign vouchers / coupons
Define eligibility conditions
Execute the redemption
Coupon lifecycle (incl. expiration)
Service Usage Reports
The advantages of the Partner Program include:
New Customer Acquisition
Significant Cost Savings
Higher Return of Investment
Greater earning potential for members
Easy to keep dynamic and vital
Difficult for competitors to replicate
By using the Sixth Sense Media RLM “Partners Program” mobile operators are able to run partner programs as following:
- Creating the concept of own “Partner Benefits” program
- Customers which are part of your “Partner Benefits” can use the bonus point for receiving discounts on partners services and products
- Different discount levels depending on the status of your customer within the loyalty program
- Partners can be managed directly by the operator or can be externalized to 3rd parties
The operator will be able to engage with the following type of third party services:
- Coffee Shops
- Beauty Saloons
- SPA & Gym centres
- Fashion Stores
- Online Retailers
- Travel Insurance companies
- Cosmetic Retailers
- Car Services
- Art Shops
- Clubs & Theatres
- Trainings & Courses
- Electronic Shops
- Sport Events
Viral marketing is nothing new and has been around for ages…the word of mouth communication between peers to influence the choice of a particular brand of product did always exist. However, the effect of such a communication was always limited to a specific geography or within a particular group. With the advent of the internet and the social media, this has had a very big impact on the influencing effect of such a viral marketing on the people – who are all connected via the web.
Most of the marketing teams use viral marketing as a tool to create brand awareness or create a buzz in the market during the launch of new products. These campaigns are primarily done using rich media, typically streaming media.
Sixth Sense Media with its vast experience in mobile marketing offers innovative viral marketing packages to retain customers as well as to address churn. These packages include innovative tactics to address some of the most burning issues of a Telco and allow them to target their subscriber base by launching viral campaigns to retain their subscribers.
The Member Get Member Tactic which is part of the Viral marketing Package addresses the need for customer acquisition. In this case, each existing subscriber is forwarded a voucher which he / she can share with their friends, who in turn will receive a benefit if they register for the services being offered by the telco. The subscriber who forwarded the voucher will also be awarded based on the response.
Member Get Member-Recurrent Freebies is an add-on tactic on top of the Member Get Member template which allows vouchers to be given to the subscribers based on their continuance of the services which they have registered to.
Gift Codes are marketing tactics that allow operators to target specific subscribers and use them to promote specific services. These promoters receive Gift Codes which they forward to their friends and who in turn can use these gift codes to discover and activate services on the network.
The Viral marketing Packages from Sixth Sense Media provides innovative techniques to utilize the relationship to promote usages and subscriptions within the network and helps the operator to acquire customers as well as grow revenues.