Stream Loyalty is a relative newcomer on the loyalty scene, but in the period since its inception, it has developed an impressive portfolio of mainly B2B clients and a great company philosophy. Founding director Melanie Parker talks to Loyalty Magazine about loyalty, sustainability, emotions and APIs.
Loyalty Magazine (LM): Can you explain the Stream proposition and what it adds to the customer loyalty conversation?
Melanie Parker (MP): Having worked with my co-founder Mark Maclure in the event communication space for several years, we saw the opportunity to use our experience to problem solve in the customer loyalty arena and so we decided to set up Stream Loyalty in 2009. One of our first clients was Dentsply Sirona, a dental manufacturer whose route to market was via a wholesale channel, so they had little data on their end customers. We created a hybrid solution that saw them move from running a small tactical campaign with an event, into providing their end customers with the first loyalty programme of its kind in the UK dental market. We managed to achieve a return on investment for them in just 6 months.
LM: Do you continue to focus on the business to business space?
MP: We really enjoy the challenges of working in the B2B space. Businesses and their relationships with customers are often much more complex. There is usually a multi-tier account relationship, and sometimes the budget holder may not be the person interacting with the business day to day. There are often issues with data and getting a single view of the customer especially where companies have grown through acquisition. Often we find we are taking our clients on a digital transformation journey rather than just a customer loyalty journey.
LM: So, is a loyalty programme a useful way to connect with these difficult to reach customers?
MP: Very much so. A loyalty programme is often led by the marketing department, and it gives really clear data to measure the impact of any work, and track where customers are coming from.