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...

Don’t you wish you could fast track your business?

  It’s right time to put the full power of technology behind One-to-one marketing. One-to-one marketing is a customer relationship management (CRM) strategy emphasizing personalized interactions with customers. The personalization of interactions is thought to foster greater customer loyalty and better return on marketing investment. To harness the true benefits of one-to-one marketing strategy the key shift in strategy is to start building customer base from across all channels viz. your point of sale, customer inquiries, feedback, missed call, your website, online shoppers of your brand and even tapping into social media channels like fb & twitter. It is important to re-enforce under this strategy that every customer is valuable. Taking this into account we need to build a CRM system that is capable of capturing customer from omni channel and start building on their information by adding attributes like transaction details, demography & social profile in the long run. In traditional method marketers have been focused on distributing their marketing spend budget across online & offline channels as a way of one to all communication. With the advancement of information age this strategy is turning out to be obsolete and age old. Historically even basic personalized marketing has proven that that remembering details about your customers’ likes and dislikes enhances transactions and builds customer loyalty. But now, it’s time to ratchet it up and update the concept once again. The next big thing in our industry is going to be intelligent 1:1 marketing. The intelligent one-to-one marketing believes in use of customer data to cluster, identify their preferences, timing of shop and predict their most probable time to...

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:...

Mobiquest: The Cartographer of Customer Adhesion

In the mobile age with an ever increasing competition & changing consumer preferences, it has become paramount to retain customers, besides making new ones. This gave dawn to a fresh concept – Mobile Loyalty & Data Analytics – to retain them through discounts, bonus and other offerings that are in tune to their preferences and expectations. In the last decade, consumers were introduced with plastic cards, which they could punch to be rewarded with certain points. But since carrying cards has also become antediluvian, seeing the fortune of the smartphone world, reward apps are now in the market. Yet, most of the apps do not offer the best deals leaving the path with a plethora of others to fill in the gaps. Partnered with over 150 brands in eight sectors, Mobiquest introduced M’loyal in 2010 to provide brands with a platform to capture customers and cluster them based their purchase/buying patterns and send out communication that is much more precise and highly relevant to the consumer. Promoting Staunchness Rewards Established in 2008 by Vineet Narang, Mobiquest offers a consummate spectrum of services for mobile based sales and advertising solutions. M’loyal, being the exclusive offering from the company, avails customers with reward points amassed through purchases consumers make. Accumulated points are assembled in the app and once a certain cap is reached, consumers can redeem the points to purchase from the same brand. On the other hand, it facilitates retailers capture consumer across all channels (social, POS, mobile, Web), clusters consumers based on germane parameters (purchase, frequency, location, time, data, product affinity & more) and utilizes M’loyal’s inbuilt Campaign Manager...