Go Back Buyer's Guide to Enterprise Loyalty

Risks & Objection Handling

Familiarize yourself with the risks of investing in a loyalty program and prepare yourself to handle the top objections from stakeholders.

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refer
Go Back Buyer's Guide to Enterprise Loyalty
It's Time to Invest in Loyalty The Driving Force Behind Retention
Conduct Internal Research Define Business Objectives
Vendor Criteria & Considerations Loyalty Landscape: Types of Providers The Right Provider for Your Business
Talking About Loyalty in Your Business Stakeholder Management & Implementation Timelines Risks & Objection Handling

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Building a strong case for a loyalty investment is a complex and difficult task. Different stakeholders may push back for varying reasons. Consider the following suggestions to handle each objection.

Marketing

Objection: “This doesn’t fit our business model.”

Counter: A loyalty program is the one tool that has to connect with every other solution in your tech stack. The right solution will provide pre-built integrations that can be leveraged in one click, so your marketing team can manage and leverage loyalty alongside additional channels.

IT & Development

Objection: “We don’t have resources to take on a project of this scale.”

Counter: While the initial implementation might seem complex, the right solution should provide a clear timeline with steps and processes. Comprehensive solutions, like Yotpo, can provide a modular approach that enables your IT & development teams to leverage pre-built rewards templates and customizable CSS options. This type of build is quick to launch, integrates with your tech stack, requires a single set-up, and leverages robust API integrations. In addition, the right solution will provide an implementation management team to oversee and support the process.

Customer service

Objection: “We don’t want another channel to manage.”

Counter: After the design and implementation, the solution will run on its own without the need for daily monitoring, and the solution should provide a team that offers strategic guidance and support. If tickets arise, the right solution should give merchants complete control of the admin. Rather than having to manage conversations with a third-party, your team has direct access to the program to look up customers and integrations and offer support quickly.

Finance & Legal

Objection: “It’s too expensive.”

Counter: Cost is often the first objection when it comes to a loyalty investment. Present the team with the financial research you conducted in the early buying phases. Reiterate the logic behind your discount structure and express the projected program ROI over a period of time. The right solution will also support your team with reporting and liability.

Conclusion

A loyalty program provides enterprise businesses with the customer insights necessary to drive customer profitability. Effective loyalty programs adapt with consumer, market, and company shifts to continuously drive retention, maximize revenue, and align with your business goals.

The Yotpo Loyalty team is here to support your business as you navigate the loyalty buying process. Click here to schedule a call with us.