An overview of Comarch’s evaluation in The Forrester Wave™: Loyalty Technology Solutions, Q1 2023
Each quarter Forrester Research releases a series of “Wave” reports. The one that we believe the loyalty technology provider segment values most is the Forrester Wave™: Loyalty Technology Solutions report. The Q1 2023 report was issued in early March with the most edgy subtitle yet, in our opinion, stating the report evaluates “The 12 Providers That Matter Most and How They Stack Up”.
The Forrester Wave™ is a guide for buyers considering their purchasing options in a technology marketplace and is based on Forrester’s analysis. To offer an equitable process for all participants, Forrester follows a publicly available methodology, which is consistently applied across all participating vendors.
Sometimes, vendors decide not to participate in the formal Forrester Wave evaluation process. In these instances, Forrester evaluates the vendor according to its Vendor Participation Policy and reserves the right to evaluate products and services, regardless of vendor participation. Forrester always makes clear if a vendor did not fully participate in the research and scores non-participants using information available to them at that time.
Comarch was among the 12 solution providers reviewed in this report and was a full participant in the research. Comarch was ranked as a “Strong Performer” in the group and received the highest score possible in two criteria, specifically in global and local support and community engagement. The company was ranked the second highest score in loyalty technology product revenue.
Comarch is unique in its global reach and ability to serve large enterprises. Often with cross-border interests, the company was noticed by Forrester as it concluded “Comarch is a solid choice for brands looking to support global programs”.
Before we go into more detail, it is interesting to note the key themes and trends that Forrester cited to frame the evaluations. According to Forrester’s Marketing Survey 2023, 53% of B2C marketing decision-makers plan to increase their spending on loyalty technology in 2023. Marketers have a renewed focus on the profitability of their loyalty strategies and are concentrating on reducing the technology cost of ownership, improving customer lifetime value (CLV), and increasing incremental revenue.
Responding to this overarching market trend, loyalty technology solution providers are focusing on offering modular loyalty platforms that fit efficiently into a brand’s technology stack and minimize unnecessary overlap with connecting systems. Brands are looking for providers that offer a flexible, agile approach to activating new program features and functionality to improve program management and performance.
Forrester recognizes in its report that individual loyalty providers don’t always need to have all the answers, meaning the ability to enable a partner ecosystem to add sophisticated gamification or zero-party data collection (for example) is equally important as offering those capabilities directly.
And Forrester is always looking ahead. With an eye to the future of customer loyalty strategy development, the firm placed importance on the vision and future road map for enhancements and improvements to meet future trends.
Comarch received the highest score possible in the global and local support criterion. The company has made significant investments in its technology over the past two years as well as its go-to-market strategy. There is a highly honed and focused vision of product placement which will serve its clients well in the future.
Comarch boasts over 20 years of global loyalty program expertise. Their experts continuously develop, enable, and strengthen loyalty strategies in an ever-changing technological landscape. The company recognizes the value of its user community and has created an online user forum as well as hosted a series of local events for its client base. Integrated into its user community is a partner ecosystem, making it easier and more efficient for clients to understand the options for new capabilities that are available.
Comarch has always leveraged its strength as a technology development organization. With roots in building custom solutions, Comarch is able to shine when asked to meet the unique needs of the company's prospects and clients. This development expertise is core to Comarch’s DNA. The company’s many years of market experience align with this to provide constant platform improvements, including some related to personalization in real-time, connection to internet-of-things (IoT) devices and Web3 enhancements.
"I'm thrilled with Comarch's recognition in Forrester Wave. Loyalty is becoming mainstream and growing fast. We need new business models and simplified delivery/integration in martech ecosystems. In these difficult times of financial instability, it's essential to focus on customer loyalty through great experience, personalization, and providing significant value to loyal consumers. Our AI-based marketing platform and wide range of business services makes it much easier for marketers. We're here to support you at every step of the journey, from building strategy to day-to-day operations" – says Janusz Jeremiasz Filipiak, CEO, Comarch Inc.
As always Comarch’s ethical work culture and commitment to partnership makes the company an attractive option for consideration. Get your copy of the report here.