Monday Morning Insights - 6th March 2023

Written by Tom Peace

Loyalty technology is developing faster than ever, and many companies realize that mastering emerging technologies is pivotal to winning customer engagement and retention.

Loyalty executives are starting to utilise AI and other new technologies such as Web3, blockchain and NFTs within their loyalty programs, but it's vitally important to implement wisely if you want to successfully invest in fostering customer loyalty.

Here’s our simple 3 step guide to implementing new tech:


🚀 Analyse your customers thoroughly

To build a strong emotional connection with their customers, businesses must perform in depth research on the needs, desires and habits of their customers. You must also figure out the best ways to employ new technology. You shouldn’t start choosing which technologies to invest in until you've understood their needs and developed the customer strategy.

🚀 Planning is essential for restructuring around emerging technology

Making beneficial use of new technologies in customer facing businesses requires careful consideration of additional areas, such as retraining, process change, and mindset change for all business activity. Planning all the stages with key stakeholders across the business ensures success!


🚀 Using new technology can be more forgiving

Companies should implement new technologies using a careful approach, but be mindful that the new solutions will save time and resource, as well as boost performance, when used correctly. Businesses are still learning how to use AI and new technology innovations in the corporate environment through trial and error. This way the business can experiment and work out what is the best way to fully implement the new technologies in a positive way for the business and the customer.


Are you looking for a new technology partner? We can help...

We work around 50 different technology and service providers that can provide...

⚙️ SaaS loyalty technology
⚙️ Full Enterprise loyalty services
⚙️ Redemption partners
⚙️ CRM automation
⚙️ Data strategy and CDP solutions
⚙️ Insight, analytics and research
⚙️ Innovations for loyalty, such as sustainability and Health & Wellbeing

Find details on all our partners and get in touch below

https://www.theloyaltypeople.global/partner-directory?utm_campaign=79bc4f30-60a4-431e-af30-3e96476061c2&utm_source=so&utm_medium=lp