Loyalty Program Strategic Sourcing

Loyalty Program and Platform Strategic Sourcing Services

Corcentric’s unique team of procurement professionals, Marketers, and IT category management experts will help your company identify and onboard the most qualified customer loyalty program and/or platform provider for your brand’s needs.

In today’s competitive consumer environment, incorporating a loyalty program, or loyalty platform, may be the competitive advantage your business needs to foster customer loyalty and retention. Best-in-class consumer-facing companies implement and maintain a loyalty program as part of a larger Customer Relationship Management Program to:

• Increase sales by providing attractive rewards
• Gain access to dynamic market data and research
• Improve customer appreciation
• Allow for trial and error to pinpoint incentives that work and those that do not
• Foster relationship-building with current and future customers
• Build brand recognition and reputation by maintaining relevant
• Advertise and promote across business offerings
• Allow for customer segmentation and targeted marketing and communication initiatives
• Allow consumer reach in an omni-channel environment from brick and mortar, web and social media

Finding the right customer loyalty platform provider can be a complicated task depending on your business’ needs and consumer demographic and shopping patterns. There are a vast number of customized loyalty program providers as well as out-of-the-box technology solutions. Do you know your loyalty business requirements? Do you know who the right loyalty provider is for you? Corcentric has vast experience in sourcing the top loyalty providers that meet your specific business need and requirements. Corcentric’s team of procurement professionals and Marketing Sourcing and IT category management experts will help you source the best loyalty partner to fulfill not only your business’ needs, but your particular consumer needs as well.

Corcentric has the loyalty category expertise to work with your team to assist you in finding the best Loyalty Platform Provider for your organization. Our proven customer loyalty program sourcing process includes the following steps:

• Identify and finalize business requirements for back-end and front-end creative needs by stakeholder kickoff meetings/breakout sessions.
• Identify and vet qualified candidates through an informal RFI screening and conflict of interest validation to down select to the desired amount of Request for Proposal participants.
• Develop and distribute sourcing documentation (RFP); evaluate and score RFP submissions.
• Present Market Assessment to key team members, outlining RFP proposals and recommendation for on-site presentations.
• Identify preferred supplier(s) and complete negotiations and finalize pricing analysis.
• Conduct a final review of Master Service Agreement (MSA) and Scope of Work (SOW) and submit to client’s legal team.

Corcentric’s marketing subject matter experts have direct experience in consumer-facing initiatives, including Loyalty Programs, and have the ability to identify the needs within your company and match them with the most ideal partner and best translation company per scope of work. Our expertise encompasses market intelligence,  direct relationships with the top Loyalty Technology and Program Providers, and current data to confidently negotiate pricing, value-add services, discounts, service levels, on-going maintenance and project management fees.

Relationships with your consumers are the key to successful loyalty programs; therefore, your business should start off on the right foot with the most accurate loyalty supplier relationship, customized to your needs.