About Loyalty Management Software
Loyalty management software allows the business to identify the loyal or repeated customers to target for rebranding, discount offers, gifts cards, rewards, etc. Loyalty management is a key part of any marketing strategy for the business to grow as it helps to ensure that the right customers are being targeted for promotion. The software has built-in email marketing or marketing automation tools for identifying the customers and automatically send them promotional rewards and gifts.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Loyalty Management Software market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Loyalty Management Software Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Zinrelo (United States), Annex Cloud (United States), Loopy Loyalty (PassKit Inc.) (Hong Kong), Oracle (Crowd Twist) (United States), Loyverse (UAE), Smile io (Canada), Antavo (United Kingdom), Goody (New Zealand), LoyaltyGator (Canada) and Clutch Holdings LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Purple ai (United Kingdom) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Loyalty Management Software market by Type (Engagement Based Loyalty, Employee Retention, Channel Loyalty and Others), Application (Small Business, Medium-sized Business and Large Business) and Region.
On the basis of geography, the market of Loyalty Management 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 Pricing Option, the sub-segment i.e. Annual Subscription will boost the Loyalty Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Smartphones will boost the Loyalty Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. BFSI will boost the Loyalty Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-Premise will boost the Loyalty Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Activity Tracking will boost the Loyalty Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction fo API based Loyalty Management Software and Omni Channel Availability of Rewards Because of Loyalty Management Software
Market Growth Drivers:
Increasing Demand for Repeated Purchase Rate and Engagement with Customer Beyond the Standard Marketing Strategies and Need for Automating the Communicating the Brand to Customers
Challenges:
Stiff Competition in Loyalty Management Software Market
Restraints:
Difficulty in Identifying Loyal Customers to Target for the Loyalty Programs
Opportunities:
Technological Upgradation in Loyalty Management Software and Increased Need for Brand Communication and Maintaining Customer Loyalty Due to the Prevailing Worldwide Situation
Market Leaders and their expansionary development strategies
In January 2021, Pegasystem which provides customer engagement software, has announced its acquisition of Qurious.io, Inc., a cloud-based real-time speech analytics solution for customer service teams. Terms of the deal are not being disclosed.
In October 2019, Oracle announced an agreement to acquire CrowdTwist, the leading cloud-native customer loyalty solution to empower brands to offer personalized customer experiences. The solution offers over 100 out-of-the-box engagement paths, providing rapid time-to-value for marketers to develop a more complete view of the customer. Upon the close of the acquisition, the CrowdTwist team will join the Oracle Customer Experience (CX) Cloud organization.
Key Target Audience
Loyalty Management Software Developer, Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a 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 the purpose to understand the companies positioning regarding the 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 a 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, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.