Exchange Solutions Creates Loyalty Boost for Engagement

Exchange Solutions, an organization that designs and builds customer engagement programs for retailers, has created ES Loyalty Boost, a loyalty optimization product intended to produce more engaged, profitable loyalty customers.
 
Exchange Solutions mined data from its existing customer base to design the product. The organization wanted to help solve the common retail problems of generating incremental revenue and profit, increasing customer purchase frequency, growing average order value, creating new category buyers, and shaping demand.
 
The resulting product is a tool for intelligent, personalized offers that addresses pain points for retailers.
 
Ron Gerace, senior vice president of product and marketing at Exchange Solutions, said, “ES Loyalty Boost uses a retailer’s existing customer loyalty data and delivers individualized offers [by] understand[ing] the retailer’s unique business challenges, product offering, member attributes, seasonality impacts, and loyalty program construction.”
 
In addition, Gerace said, ES Loyalty Boost “identif[ies] individual customer purchase patterns, propensities, and opportunities for improvement. [It also quantifies] the value of these improvements.”
 
Furthermore, the product offers ease of integration. A four-step implementation plan enables Exchange Solutions to add ES Loyalty Boost to existing technological frameworks.
 
First, Exchange Solutions provides a one-time member data extract for analysis. Second, the organization allocates space within available communication channels for personalized offers. Third, it sets up an API to transmit loyalty data for ongoing behavior recognition. Lastly, it sets up an API to deposit reward currency from completed offers.
 
“We recognized that retailers need solutions that won’t require them to rip out and replace what they already have and that leverage the large amounts of data they’ve collected,” said Gerace. “We wanted to offer a product that didn’t blow up a retailer’s tech and loyalty roadmap.”  
 
The product is intended to improve acceleration in key loyalty behaviors, lift in member spending, and return on promotional spending.
 
“Our goal,” said Gerace, “is for customers to value participation in the retailer’s loyalty program. When a customer values the program, customer behavior follows and you achieve the goal of the program in the first place. By individualizing customer engagement and respecting each customer’s unique transactional motivation, retailers can make a lasting connection that delivers on the behavior goals of spending more, shopping more frequently and across more categories, and staying engaged and truly loyalty to the retailer.”
 

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