What is Customer Loyalty Program Software?
Customer loyalty program software is generally offered by companies or retailers to customers that have a frequent purchase history as loyalty is an important factor for a successful business. Customer loyalty programs often provide coupons, merchandise, and rewards in order to maintain relationships with these customers. Customer loyalty programs often focus on creating alliances in order to reduce the cost of the program. These alliances include retailers, potential investors, research institutes, and E-commerce companies.
The market study is broken down, by Application (Campaign Management, Reward Distribution, SMS Marketing and Others (Customer Engagement)) and major geographies with country level break-up.
Research Analyst at AMA estimates that Players from United States will contribute to the maximum growth of Global Customer Loyalty Program Software market throughout the predicted period.
IBM Corporation (United States), Oracle Corporation (United States), Aimia Inc. (Canada), Annex Cloud (United States), Apex Loyalty (United States), Apptivo Inc. (United States), Epsilon Data Management, LLC (United States), Bond Brand Loyalty Inc. (Canada) and Kobie (Russia) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Brierley+Partners (United States), Capillary Technologies (Singapore), Comarch SA (Poland), FiveStars (United States), Hashtag Loyalty (India), ICF Next (United States), Kangaroo (Canada), Loyalty Gator (Canada), LoyaltyLion (England), Maritz Motivation (United States), Merkle (United States), Smile.io (Canada), SpotOn (United States), TIBCO (United States), Yotpo (United States), SailPlay (United States), Lacek (United States) and Paystone (United Kingdom).
AdvanceMarketAnalytics has segmented the market of Global Customer Loyalty Program Software market by Type, Application and Region.
On the basis of geography, the market of Customer Loyalty Program Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Enterprise Size, the sub-segment i.e. Large Enterprise will boost the Customer Loyalty Program Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Option, the sub-segment i.e. Monthly Subscription will boost the Customer Loyalty Program Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Cloud-based will boost the Customer Loyalty Program Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Customer Loyalty Program Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In April 2020, Aimia merged with Kognitiv Corporation to create loyalty programs and deliver profits to the businesses. Transaction expected to lift the merged company on a global scale, with strong business synergies, and enhance path to profitability for the combined business. and In October 2019, Oracle Corporation acquired CrowdTwist to offer personalized customer experiences. It will enable the delivery of personalized customer engagement to all sized organizations.
In October 2019, Bond Brand Loyalty launched a new XO Lab comprised of a multi-disciplinary team of automation specialists, data scientists, and strategy management experts to deliver personalized loyalty programs to their clients and customers.
- Growing Adoption of Advanced Technologies, Such As Artificial Intelligence and Machine Learning
- Increasing response rates from customers leading to increased adoption of the loyalty program software, thereby driving the growth of the market.
- Rising Adoption of Omni Channel Customer Loyalty Strategy
- Demand for advanced solutions to monitor customer scores and enhance customer engagement
- Growing Importance of Customer Insights to Predict the Customer Intents
- Increasing Investment in Customer Success Platform Start-Ups
- Stringent Government Regulations
- Data Synchronization Complexities
- Data Security and Privacy Issues
Key Target AudienceCustomer Loyalty Program Software Providers, Software Developers and System Integrators, Technical Developers, Industries Bodies and Associations, End-Use Industries and Others
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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