Do not Pay for your own Customers – Keep them yours

It is now becoming a norm to pay for leads, customers and referrals from partners, affiliates or aggregators. A customer is referred to our store or online portal by an affiliate and we pay for that lead. It sounds good the first time, but now the same customer comes the second time either through the same source or a new one and we pay for him again and over and over again. Looks like this customer likes our brand, our service and our product, he specifically goes on to a third party ecosystem to come to us and we continue to pay for this loyal customer. Is it not funny that an aggregator or affiliate values our customer more than we do. They capture him, engage with him, offer him goodies (part of it coming from us) and lure him to come back to them and get directed to us. Gone are the days when we would advertise hard to get the customer to know us, its time to change, its time for us to know the customer and not vice versa. Customer has done his bit by visiting us, shopping with us, giving his details maybe also filled a positive feedback, we need to do our bit to own and value our customer. Data, as they say is oxygen or oil of new economy, well how much of it do we have and how much time are we spending to collect it / enhance and above all USE IT. Technology seems to be everywhere and every Indian seems to be a techie, but hardly do we see any...

M’loyal Drives high ROI for Retail Brands

M’ loyal, the leading player in the mobile loyalty and data analytics space is mining huge data loads for Retail Brands in India. Retail consumer analytics is a key driver of marketing budgets in the US. Instant offers based on real time data capture can uplift sales, while saving on costs of random marketing communication. M’loyal today manages loyalty and Analytics for more than 180 brands, across 65 mn consumers and clocks more than Rs 2000 crore worth of transactions annually. Tagging each customer at the POS (Point of Sale), allows the analytics engine to understand vital behaviour of the customer. Dicing / slicing this rich customer purchase data helps create specific Clusters. Sending out campaigns to this segmented base drives up ROI tremendously. Consumer preferences are changing and brands needs to create stickiness, focus on driving repeat and referral. Customer data is all over the place and touch points are ever increasing. According to Chandra Shekhar, Vice President, CRM, “every brand needs to map the customer life cycle, identify the ideal loyal customer and plan communication to move every customer cluster bit by bit towards the ideal group.” Find more details about the m’loyal platform at www.mloyal.com Or see the product concept at: YouTube movie...

Customer loyalty goes mobile – The m’loyal way

The idea and approach of loyalty is changing fast. Loyalty is no more a plastic card that you use for few weeks and then can’t find it anymore. Loyalty has moved to mobile. Customer mobile number is a unique identifier and helps marketeers plan highly precise campaigns. The concept of mobile loyalty has moved from being an incentive program for the consumer to one to one marketing. The investment on loyalty allows you to capture rich customer data. Meaningful use of this data for customer segmentation and to decide relevant campaigns, creates positive ROI. According to CEO, Vineet Narang, “m’loyal helps minimize pilfering of customer data and maximize ROI for every campaign. We have seen 8-10X ROI as an average for Analytics based campaigns” A careful analysis of data shows that 65 percent of customers register for a brand loyalty program, 18-19 percent redeem points and 2.5 – 4 percent customers respond to campaigns. Campaign response is received within 72 hours and hence the whole exercise and completely measurable. Each analytics based campaign drives incremental sale, moves lazy customers to aggressive buyers and drives up the total sale and ATV of the brand month on month. Find more info on m’loyal at:...

Mobile Loyalty Program – The Secret Weapon

There is no denying the fact that a lot of advertising and brand promotion related expenditure goes into acquiring first-time customers. Marketing professionals should instead direct a large part of their time/effort towards building on the existing customers and getting repeat business out of them. The loss of a customer to competition severely impacts the revenue figures of a company. ‘Customer Loyalty’ should take centerstage and be given the due acknowledgment it deserves.  How to do it is definitely one big challenge, when you consider the fact that at the drop of a hat your customer will switch allegiance from your brand to that of the competition. Constant meaningful dialogue (read: engagement) with the customer is a good approach to adopt. The arrival of mobile loyalty program is touted as a secret weapon in the hands of marketers of today. It is a vital relationship building tactic you can deploy to instigate repeat purchases from your customers. The inconvenience of carrying a plastic loyalty card is replaced with the hassle-free way of mobile coupons that can be flashed at a point of sale for quick redemption. This win-win arrangement is an eco-friendly initiative that cuts down paper use with a complete digitized information mechanism. Here are some of the basic elements that every customer loyalty program must look to address: Customer satisfaction – Creating value for the customer should remain the #1 priority for every company. Losing sight of customer needs and only consolidating on your R&D divisions is a strategy that is bound to fail. Customers should remain the focal point of every business in order to drive repeat sales....

Loyalty Programs – Creating a Value Proposition for your Business

A comprehensive customer relationship strategy calls for implementation of an effective loyalty program to acquire, retain and engage your customers in a consistent manner. Today, a loyalty program needs to be tier-based and must focus on lifestyle and purchase pattern of a consumer. Identifying and serving potential high value customers will help increase consumer advocacy. Retailers must make a sincere attempt towards focused marketing instead of just blasting off text and e-mail messages to an unverified database. Conventional loyalty programs that used to rely heavily on plastic loyalty cards have failed. The arrival of mobile loyalty platforms is a welcome change for the consumer. Instead of carrying a stack of plastic cards inside their wallet, a customer can flash their mobile at the Point of Sale (POS). Such a seamless way of using mobile cards is what the consumers are taking a liking to. The response rate of mobile driven loyalty platforms has been far better and profitable for retailers, vis-à-vis traditional media campaigns. M’loyal is a next generation loyalty and CRM solution. This robust mobile loyalty platform has propelled personalized and targeted marketing initiatives of marketers and brand managers. Here are some of the salient features of the M’loyal platform: Reward points (accumulation & redemption) – Interactive mobile cards can be instantly generated at a POS. A seamless redemption process is a great benefit that adds value to the customer experience. Mobile advertising – You can engage your customers instantly with the help of SMS advertising, video advertising, discount and schemes. One-on-one communication channels can help a brand communicate directly with its loyal customers. Mobile coupons – Consumer spending can be immediately...