Rewards software provider, Catuity, and marketing communication firm, PreVision, have announced a strategic partnership to provide mid-tier to large-tier retailers with turn-key loyalty campaign management solutions.
The new alliance aims to produce retail transaction systems that will drive profitable customer behaviour at the point of sale (or online) while simultaneously collecting the data produced by the reward programme in real time.
At the point of sale, after the transaction is completed, using Catuity's software, the data can then immediately be assessed using PreVision's suite of database tools. PreVision will also assist retailers as they work to improve data-driven loyalty strategies, and will help with the design and deployment of CRM oriented marketing programmes.
Michael Howe, CEO of Catuity, said, "We are delighted to be working with PreVision, whose customer base includes household names such as Ahold, Hallmark, Sears Portrait Studios, Keds, Toys 'R' Us, and Talbots."
"This will to be a powerful solution for retailers who want to launch or revamp customer loyalty initiatives," added Deirdre Girard, co-founder of PreVision. "Our strategic and analytic services, combined with database products, complement Catuity's systems for loyalty benefits at the point of sale."
Companies that have invested in business analytics are finding significant benefits, according to a recent study by market research firm, IDC. In its October 2002 study, The Financial Impact of Business Analytics, IDC found that organisations that had successfully implemented and utilised analytic applications in the CRM segment of the industry had seen a five year median return on investment (ROI) of around 55%.