Every consumer-centric loyalty provider knows that collecting data, analyzing it, and creating insights from it are extremely difficult challenges. Brands not only have to adhere to increasingly stricter regulations and handle massive amounts of data from innumerable sources, but they also must unify all of the data into usable profiles and personas. Additionally, firms have to manage the entire process in an efficient manner or lose their cost-effect edge.
In turn, the strategies and platforms that brands adopt to tackle these challenges can present obstacles as well, as we’ve seen from Loyalty360’s own research. A company will have to choose a platform with all the functionalities it needs and a data-and-analytics strategy that complements that platform. It may also need to create oversight teams to handle data properly and securely and engage employees so that they buy into the value the company provides.
Click the green button to download the full report.