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 pays to know your customer in this fast paced competitive terrain. Information captured via mobile loyalty programs can be used to strengthen customer affinity towards your brand. For instance, the store executive can engage with the customer at a much more personal level.
- Personalized incentives and offers can be rolled out to customers to give a boost to sales. A methodical approach towards marketing and sales should revolve around understanding the precise needs of the customers. This form of precision marketing will help increase sales revenue and reduce marketing overheads.
- There is no denying the fact that having all your customers wired onto a mobile loyalty platform will help forge that instant connect with them. Amongst a host of exciting things you can instantly communicate new product announcements, opening of new stores, stock clearance discounts and even wish your customers on their birthdays/anniversaries.
Map your business to a mobile loyalty program and witness the sea change it brings to your business fortunes. A robustmobile based loyalty program will provide comprehensive reporting capabilities to capture overall program performance and measure its ROI. So why wait? Reach out to your customers today to initiate a simplified, meaningful and constant dialogue with them.
MobiQuest is a leading enterprise mobility solutions company. The company has 2 leading mobility platforms in the market – M’Apps and M’Loyal. M’apps enables last mile data capture using mobile devices. M’loyal is a mobile loyalty platform. MobiQuest is a Mumbai Angels funded start-up, on its growth path. The company today has 75+ large companies using its mobile technology, touching more than 5 million individual phones. Mobiquest has recently started international expansion by setting up local presence in South Africa.