More and more consumers expect some kind of added value for using retailers’ proprietary apps, but offering a branded experience and loyalty rewards as a small business can be financially prohibitive.
With a new white-label loyalty engine from Lootsie, though, small businesses can have it all.
The engagement and retention technology startup announced Monday (Oct. 12) that it was releasing a platform to allow any retailer to set up its own branded loyalty programs within native apps. Two developers of popular mobile games, Bonanza Media and PikPok, have already implemented Lootsie’s new engine after a trial period, and Bonanza CEO Chris Hewish believes the service will be a strong player moving forward.
“At Bonanza Media, we’re always looking for ways to innovate and improve our user experience,” Hewish said in a statement. “As developers, we spend a lot of resources creating engaging games and acquiring new customers. Lootsie is a strong part of our overall strategy with Tribal Idol and the rest of our portfolio. We strongly believe in the ongoing opportunity that loyalty and in-app rewards programs bring in terms of revenue and retention.”
There’s already strong evidence that the mere presence of a loyalty rewards program pays big dividends with consumers. According to a study conducted by Collinson Latitude, shoppers engaged in any kind of retail rewards program reported a satisfaction score of four out of five. Moreover, 63 percent of consumers admitted that they are often influenced to change their retail bank or credit card by the rewards offered by a different brand.
“App developers and brands are always having to answer ‘what’s next,’ and in the coming years, almost every app will have some type of loyalty/reward system,” Marc Mitchell, CEO of Lootsie, said in a statement. “It will be a core component to every publisher and brand’s engagement, retention and revenue strategy. Whether it’s a consumer app, fitness app or a paper-toss game, every developer should start thinking about their app as an extension of their brand and loyalty as a crucial part of the user experience.”
Mitchell is certainly bullish on Lootsie’s adaptable approach to rewards programs, and the next few months will tell if retailers can match his enthusiasm for plug-and-play loyalty capabilities.
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