The big news on the Snipp home front is our recent acquisition of SwissPost’s Loyalty and CLM platform, which we closed in February 2015. The acquisition gives us access to an enterprise strength, robust loyalty platform that is chock-full of cool features and modules such as real-time POS interactions, social media modules, extensive CRM companies and more. Loyalty companies have been around for a while though, so you may well be thinking to yourself, “what’s the big deal?” (besides of course the aforementioned super-cool features).
The real magic in the acquisition though is not the loyalty platform itself but what happens when you merge the newly-named SnippLoyalty Platform with our SnippCheck receipt processing solution. All of a sudden, we have the perfect solution for consumer brands looking to do loyalty programs.
Why Brands Haven’t Really Done Loyalty
While you see loyalty programs aplenty across most major retailers and service companies, consumer brands have historically had a very hard time launching loyalty programs. The reason for that is simple: it’s very hard (read: expensive, cumbersome) for CPG companies to validate consumer purchases. Consumer brands that have launched loyalty programs have typically used “code-on pack” solutions to validate purchase (think Coke, Huggies, Pampers etc.) or have avoided incentivizing purchase altogether, choosing instead to reward consumers for other types of brand engagement (like Pepsi’s much overwrought PXP program).
The Problem With Code-On-Pack
There are three major problems with codes-on-pack:
- They’re expensive to implement. Using codes-on-pack requires rejigging your entire packaging infrastructure to print unique one-time codes on each item – and that doesn’t come cheap.
- They’re not a great consumer experience. I open my package, and then have to take it to my computer and type in a complicated ten or fifteen digit number.
- They don’t give brands sufficient information. As a brand, all I know with code-on-pack programs is that a consumer bought my product. I have absolutely no idea what other products were in their shopping basket, or where/when the products were purchased.
Receipt Processing to the Rescue
When you merge loyalty with receipt processing, you get a perfect solution for a brand looking to do loyalty. For starters, the infrastructure required to set up a receipt-based loyalty program is significantly faster, better and more cost effective. Secondly, its a lot easier to take a photo of a receipt and text it than to type in a 15 digit number. And lastly – and most importantly, brands are able to capture a boat load of information about what else consumers are purchasing and from where – giving them invaluable insights into shopper behavior.
In addition, receipt-based programs are far more flexible. You can set up programs with complex qualification rules, add in new product categories easily, create additional promotions on top of the core loyalty program and a host of other things that simply aren’t possible to do with traditional on-pack programs.
There’s More To Loyalty Than Just Purchase
The new SnippLoyalty platform has been specifically engineered with brand requirements in mind. In addition to purchase, you can reward consumers for all manner of different interactions they may have with the brand – be they online or offline. Social media interactions, watching videos, providing consumer referrals and reviews, reading web-pages, taking pictures of the brand/logo/actions – all of them can be easily and seamlessly incorporated into the program, so that its truly holistic.
If you don’t want to read all the words, here are the main reasons why our new SnippLoyalty solution is simply perfect for brands (and much better than other options):
- Reward consumer purchases through receipt-based validation of purchases
- More cost-effective, flexible and powerful than any other options
- Incentivize any consumer interaction – not just purchases
- Vast amounts of data and analytics to give you true insight into consumer purchase behavior
- Easy to to set-up and integrate