Formation, the Dynamic Offer Platform (DYNO) company, continues to empower brands to accelerate the adoption of personalization and gamification with the announcement of Hosted Offers.
As brands look to deepen the relationship with their customers in the digital world, the most future-facing are embracing gamification. Gamified offers and experiences create a fun and emotional connection with the customer that ultimately increases CLV for brands. However, for many brands, the move to gamification often has a high barrier to entry due to resource bandwidth, legacy MarTech stacks, and the internal ability to deliver a one-to-one personalized experience.
Hosted Offers: Accelerating the Move to Gamification
Formation’s Hosted Offer capability provides brands a fast path to the adoption of gamified offers, resulting in sizable loyalty program revenue growth. Many brands cite a number of barriers to the adoption of personalized and gamified offers for their loyalty programs, such as:
- Ensuring a consistent offer experience between web and mobile channels
- Having to integrate legacy MarTech stacks and homegrown mobile and web solutions
- Lacking organizational design/IT resources and bandwidth
“Formation’s Hosted Offer capability provides an end-to-end hosted experience that allows consumers to activate and track their progress with a brand’s offer on any channel they choose,” said Rob Fagnani, Co-Founder and Head of Business Development at Formation. “Most offers today happen in email only. By expanding the reach of offers to multiple channels – especially SMS, mobile and web – we’ve seen brands achieve up to 5x increased engagement and 4x increased revenue due to the increased reach of the offer. With this capability brands don’t have to rely on their digital and product teams to deploy new interfaces or create new integrations, ensuring faster speed to market.”
Hosted Offers also create a consistent experience between web and mobile platforms. With a single URL, brands can deliver a unique experience through email SMS/MMS, push notification, and owned channels such as web, mobile and application inbox, thus increasing customer engagement and value.
Many brands find themselves in the process of their own digital transformations as they make the move to gamified offers. This means having to overhaul legacy MarTech, mobile and web stacks while not having the necessary AI and machine learning capabilities to compute the various data sources to personalize those offers. With Formation’s Hosted Offer capability, loyalty marketers can engage their customers with gamified offers across any channel without complex integrations to their MarTech stacks.
Hosted Offers is yet another benefit to brands as Formation continues to expand its platform, providing a comprehensive and turn-key experience to accelerate the adoption of gamified offers across any channel. Formation’s end-to-end hosted experience alleviates marketers from having to compete for oversubscribed organizational resources and get personalized offers in front of their customers, accelerating engagement and customer value.
Modern Gamification Is the Next Phase of Loyalty
Advancements in digital continue to put power in the hands of consumers. Today, consumers have an ever-growing number of choices for the products they want, and social channels have given them a voice to share positive and negative brand experiences.
Loyalty programs must continue to adapt to this customer-centric world in order to retain customers. Integrating gamification into loyalty programs and offers provides a richer, more engaging solution to the shift in consumer expectations than traditional earn & burn models. Innovative companies have already started creating gamified experiences to increase revenue and CLV. Formation’s customers see:
- 2-8% higher loyalty program revenue from increased purchase frequency, order value and conversions
- 40-60% savings in reward efficiency from optimizing reward spend for each individual vs. mass offers
- 10x faster test and learn process as the self-service SaaS platform removes manual work associated with executing offers
Formation’s Dynamic Offer Platform automates the execution, fulfillment and measurement of personalized and gamified offers at scale. Marketers build campaigns focused on a specific business objective from a wide range of single-action or multi-action offer types.
Formation helps leading consumer brands deepen customer relationships and drive more profitability through gamified loyalty offers. The Formation Dynamic Offer Platform automates, personalizes and optimizes dynamic offers. Our patented technology has delivered over 10B offers and driven over $2B of incremental revenue for leading brands like United Airlines, Giant Eagle and Smiles. For more information, visit formation.ai. Formation also supports a community of digital and marketing leaders called Loyalty Innovators. For more information, visit loyaltyinnovators.com.