Effectiveness of a Mobile Customer Loyalty Platform

Tracking purchase pattern of existing customers and rewarding repeat purchases has become a widely acknowledged strategy by brand managers across the globe. An important question to begin with is: “Why would a customer be loyal to a brand?” Step in to the shoes of a customer and the answer to this pertinent question will itself reveal: Customer Loyalty should be ranked above Acquisition – Did the brand remember me after cutting a deal? It happens so often that organizations get overzealous in acquiring new customers that they forget the existing ones. CustomerAcquisition must go hand-in-hand with Retention strategies to Engage customers by making them happy and get repeat business from them.  The C.A.R.E. formula is what you need for your business. Customer friendly approach– Many a times ‘a casual stroll’ inside a shop by a customer is the opportune moment for a salesman to make merry. You must SEIZE THE MOMENT and steer clear of employing pushy salesmen who would sell what they want and not address the precise needs of the customer. Keeping your business and every aspect of it ‘customer-friendly’ helps. Create an effective online presence – While coming to a buying decision a customer will fall back upon logic. He will take the Internet route, research about your offerings, evaluate it against his requirements, read online reviews, compare prices across brands and only then invest money. Is your business online and search engine friendly? Product/Service – Last but not the least, if customers fail to get the ‘value for money’ experience out of using your products or services they will drift away. Invest a lot of effort and money into improving your products/services to prevent them from losing out to competition. Half...

Mobile Based Loyalty Programs – Simplifying Customer Connect

In the recent years mobile usage has truly skyrocketed to enormous proportions in India. As per Business Monitor International (BMI), a leading London based Industry Research Company there are as many as 8 to 10 million mobile subscribers being added every month.  The Telecom Regulatory Authority of India (TRAI) estimated 904 million mobile subscribers with a tele-density of 78 for the month of January, 2012. Increasing mobile phone usage in the country has resulted in companies using this medium to reach out to their expanding customer base. Retail businesses are the biggest beneficiaries of any mobile driven campaign to connect with customers. The idea behind driving the customer to a retail outlet for repeat sales seems to have found the right chord with retailers across the country. With a large number of retail players in the picture, keeping a stack of plastic loyalty cards no longer appeals to the customer. There are an ‘n’ number of different possibilities that you can explore to drive forward your retail business by marrying the benefits of a customer loyalty program with the power of a mobile phone. Introducing a mobile based loyalty program simplifies the customer connect objective in some of the following ways: Retailers can now generate valuable insights to track consumer buying behavior. A successful retail business model has to revolve around studying individualistic buying behavior and making product improvements accordingly. Earning and utilizing reward points is a hassle-free experience for consumers thanks to a mobile phone. They can flash their mobile at a Point of Sale (POS) and get instant redemption against the reward points they have in their kitty. It...