"Loyalty marketing is used to increase wallet share and retention among existing customers as well as attract new customers."
ROCKY HILL, Conn. (PRWEB) December 10, 2020
Premium loyalty provider Clarus Commerce was named in the November 2020 Gartner Marketing Technology Vendor Guide*(Gartner Subscription required).
According to the report, “Loyalty marketing is used to increase wallet share and retention among existing customers as well as attract new customers. Common loyalty marketing platforms support programs that help drive retention and acquisition of customers such as loyalty cards, membership rewards, discount clubs, advocacy, promotions/offers, referrals and other tactics. These platforms may also enable general purpose personalization through the construction of a unified customer profile and drive decisioning capabilities around targeted offers. Managed services play a significant role in large enterprises for technology deployment as well as ongoing loyalty operations such as program management and execution.”
It also states that, “65% of respondents to Gartner’s 2020 CMO Spend Survey report being involved in the marketing technology (martech) selection process. CMOs feel pressure to advance their team’s martech maturity, but marketers report their organizations only use, on average, 57% of their martech stack’s available capabilities.”
“Organizations have overlapping solutions or tools not being used to their full potential”, the report says.
“The martech vendor landscape is highly fragmented,” the report states. “Many vendors offer overlapping solutions, contributing to marketer confusion over where and when to best obtain core functionality through the addition of dedicated tools.”
The report gives recommendations that, “as a CMO responsible for emerging trends and technology:
- Audit your existing martech assets and capabilities against your business goals. Identify gaps and areas of overlap and develop a strategy to acquire and integrate solutions calibrated against goals.
- Hire or assign a marketing technology leader to own the martech vision and roadmap, evaluate solutions, and partner with other areas of the business.
- Lean on martech providers for ongoing training, support, and strategic services. Regularly re-engage with vendors and other relevant partners to ensure new people on your team can quickly ramp up and deliver results with martech tools.
- Factor in existing vendor relationships, resource availability, flexibility requirements, and IT collaboration to determine whether you should take a best-of-breed or integrated suite approach to acquiring (and using) martech.
Gartner in Market Guide for Loyalty Management states, “loyalty management service providers (LMSPs) sell a horizontally integrated set of technologies, often available as SaaS, bundled services for managing loyalty program strategy, execution and optimization, and proprietary consumer data assets for prospecting and analytics.”**
*Gartner, “The Gartner Marketing Technology Vendor Guide” by Colin Reid, Benjamin Bloom, Andrew Frank, Mike McGuire, and Lizzy Foo Kune, 5 November 2020.
**Gartner, “Market Guide for Loyalty Management”, Benjamin Bloom, Claire Tassin, 6 July 2020.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Clarus Commerce:
Clarus Commerce is the only company solely focused on building, managing, and optimizing customizable premium loyalty programs for retailers. The company provides the full suite of services needed for a successful loyalty program, which includes the technology platform, client services, strategy, creative, marketing, analytics, IT, and operations. Clarus serves 70+ retail brands in the U.S., including multichannel and brick-and-mortar clients like AmeriMark Holdings, Bluestem Brands, Bob’s Stores, ShopHQ, and FULLBEAUTY Brands.
Clarus Commerce was founded in 2001 and is headquartered in Rocky Hill, CT. For more information, please visit http://www.claruscommerce.com.