Bond Brand Loyalty will be able to enhance its customer engagement experiences through a new partnership with RedPoint Global, a leading provider of data management and customer engagement technology.
The partnership will provide a unique solution to the market, combining an industry-leading customer engagement hub with a best-in-class enterprise loyalty platform, supporting some of the world’s most influential and valuable brands, to maximize loyalty engagement and brand performance.
Earlier this year, RedPoint launched the RedPoint Customer Engagement Hub solution that combines the power of its market-leading customer data platform, which clients use to create rich, dynamic unified customer profiles, with its real-time customer interaction platform that optimizes customer engagement across all touch points.
Maria Pallante, vice president, loyalty solutions, Bond Brand Loyalty, spoke with Loyalty360 about this exciting new partnership.
Can you talk about how this strategic partnership will impact current and future clients?
Pallante: The RedPoint partnership further enhances our ability to orchestrate and quickly deploy cross-channel customer engagement experiences, whether it’s a formal or informal loyalty program. With this partnership, Bond’s Synapze Loyalty platform will further help our clients better manage marketing activities in one integrated loyalty ecosystem, and the additional features and functionality will allow them to better engage customers in real time, through any touch point, with hyper-personalized communications that will improve brand performance.
How will RedPoint Global enhance your current loyalty platform?
Pallante: Our Synapze platform will leverage RedPoint’s Customer Engagement Hub, as well as other integration features, to further expand our personalization and cross-channel capabilities to better support enterprise real-time customer engagement. It provides Bond with a greater breadth of solutions and options for our clients who require a more complete and dynamic view of their customers to deliver timely and more contextually accurate engagement across all of their brand touch points. RedPoint, conversely, will enhance its suite of offerings with the addition of our leading loyalty platform, solutions, and services.
What makes Red Point's Customer Engagement Hub unique in the industry?
Pallante: The RedPoint Customer Engagement Hub enables enterprises to deliver their brand promise in a highly relevant and personalized manner, and consistently across all digital and traditional touch points. RedPoint’s hub optimizes customer engagement by providing an intelligent and timely orchestration of customer interactions underpinned by a dynamic, unified customer profile (or golden record). The hub is architected with an open garden approach that leverages existing technology investments while providing the most flexible and scalable real-time decision-making capability available in the market. With RedPoint, enterprises now have a hub for connecting all of their customer data, driving real-time decisions, and intelligently orchestrating engagement with their customers.
Why is optimizing customer engagement so critical?
Pallante: With more programs competing for their attention and wallet, hyper-informed consumers expect personalized and shared interactions across a brand’s loyalty ecosystem. When customers are engaged with relevant, frequent, and timely messaging, it has a direct impact on spend, brand choice, advocacy, and retention, so it’s critical that brands do everything they can to optimize the member experience. Our research shows that program enrollment continues to rise, with the average number of programs a consumer belongs to growing to more than 14 from 10.9 memberships from just three years ago, yet members actively engage with only half of those memberships. This suggests that a consumer’s capacity to engage has reached a threshold, so it’s critical that brands work hard to ensure that they are one of the chosen active programs.
What are the biggest challenges facing loyalty marketers?
Pallante: Some of the key challenges include supporting the increased role that loyalty is playing across the enterprise, which is putting pressure on marketers and program operators to do more. Navigating and leveraging technology (existing and new) effectively is another challenge area, as the pace of change has accelerated and marketers are struggling to keep up with the ever-increasing list of functionality and tools that are required to run their businesses. And of course, marketers are also dealing with changing customer expectations that require brands to be able to engage anytime and anywhere with relevant personalized communications and experiences. Bond is focused on delivering solutions that help loyalty marketers address these challenges.