TIBCO Loyalty Lab Reward Release Helps Competitive Retailers get an Edge in Online and Point of Purchase Environments
Version 12.3 Enables Marketers to Better Understand Customers and Provide Highly Relevant Offers Through Real-Time Reward Targeting
TIBCO Software Inc. (NASDAQ: TIBX) today announced the latest version of its Loyalty Lab® unified marketing platform, which offers major retailers breakthrough capabilities that speed and target rewards to specific customers. TIBCO Loyalty Lab® Reward 12.3 software, with greater targeting control and real-time optimization, enables brands to meet consumer demand for personalized deals, increased rewards and detailed account information faster than ever before. The release delivers on TIBCO's promise to deliver the two-second advantage® to its customers.
According to Aberdeen Research's March 2011 Next Generation Customer Loyalty report, "The instant gratification mentality of today's consumer has made an impact on retailers, as they are now addressing the issue of real-time rewards." The report ties real-time capabilities to industry leadership: "Currently, 25% of Leaders, compared to 16% of Followers, offer real-time rewards to their loyalty members."
"Consumers are savvier in-person and online buyers than ever before – just look at the competition between retailers this holiday season," said Matt Howland, vice president at TIBCO Loyalty Lab. "Retailers require real-time capabilities that recognize customers instantly and quickly respond with customized offers suited to their specific buying habits – giving consumers a reason to remain loyal, while giving retailers new opportunities to increase revenue and provide unparalleled service to those critical return customers."
Loyalty Lab now gives retailers more flexibility and competitive differentiation amid big data and heavy competition. Loyalty Lab Reward 12.3, with targeting control and real-time optimization, offers greater ability to capture and process transactions, basket contents and reward redemptions in real-time, while continuing to update customer account activity immediately. Benefits of Loyalty Lab Reward 12.3 include:
Real-Time API Data Processing: Marketers can now ensure real-time processing of threshold point calculations and reward issuance, so customers can access benefits as soon as they are accrued – online, in-store or via their mobile phones.
Setting Basket Profiles: Marketers can set very specific conditions based on the contents within a customer's basket, enabling very targeted offers to be sent based on past purchases.
Brand Targeting and Qualification: Marketers can issue offers and rewards based on specified brand purchases and target individual products. This gives customers a highly customized shopping experience and allows marketers more control over issuing offers. This powerful new feature provides a level of granularity and specificity, providing additional options for product recognition. Cross-selling promotions, for example, can more easily be executed.
"With these types of enhancements, marketers can better understand their customers and optimize the shopping experience in real-time, effectively influencing buying behavior," said Howland. "Advanced basket and brand targeting with improved qualification is important for true personalized marketing."
TIBCO Loyalty Lab processes over 1 billion interactions annually for 260 million shoppers of some of the world's largest brands. With Loyalty Lab Reward 12.3, marketers can better utilize proprietary data to manage loyalty programs which improve the customer experience and build a deeper, more meaningful relationship with fans of the brand. Customers using Loyalty Lab Reward for program management enjoy improved customer retention, frequency, advocacy and an overall lifetime value through enhanced optimization and targeting.
Loyalty Lab Reward 12.3 is now available. For more information, visit:
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's optimizing claims, processing trades, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the two-second advantage® – the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes and applications in real time. Learn more at www.tibco.com. For more information about TIBCO Loyalty Lab, please visit: www.loyaltylab.com.
TIBCO, two-second advantage, Loyalty Lab, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.