Does your brand employ a loyalty services provider in addition to a loyalty technology provider? If not, you should consider it. Brands continue to increase spend on loyalty technology and programs, but they often don’t tie their loyalty initiatives to broader corporate goals, negatively impacting their success. Services providers help here. This blog answers key questions about these providers.
What is a loyalty services provider?
Marketing service providers offer loyalty-specific consulting to help companies conduct market research, develop their loyalty strategies, build and manage programs, measure performance, select execution partners, and offer operational support.
What value do they offer?
Loyalty marketers engage with loyalty services providers to improve their brand’s approach to loyalty — both strategic and tactical. These providers bring a holistic approach to brand engagements across strategy, people, process, data, and technology and often combine management, marketing, and technology consulting to drive improved loyalty results.
What services do they provide?
In The Loyalty Services Providers Landscape, Q3 2023, we identified the top 10 business scenarios that these providers offer. The scenarios are categorized as core and extended and include:
- Enterprise loyalty strategy design.
- Customer understanding.
- Loyalty member experience and engagement.
- Loyalty program design.
- Partnership and loyalty ecosystem consulting.
- Platform-agnostic technology consulting.
What capabilities do they offer?
We identified 15 core capabilities and aligned their importance to each of the business scenarios. They range from database management and processing to data science and analytics services to business case development.
Who are the notable loyalty services providers?
We categorized 26 providers into three revenue buckets and indicated their geographic focus, industry focus, and the type of firm. We also identified the providers that offer specific extended business scenarios.
Read the Forrester report, The Loyalty Services Providers Landscape, Q3 2023, to understand this market’s maturity and key dynamics and to get the details on business scenarios, capabilities, and the specific providers. And reach out to us through an inquiry or guidance session to discuss the research in depth or to answer specific questions you have.