In another example of the power of social media in brand promotion, mobility solutions provider MobiQuest today announced that M’Loyal, their mobile loyalty platform managed to engage over 5 million users with their brands.
M’Loyal uses the principle of loyalty cards to engage with consumers of a particular brand. Using the service, many brands can enhance communications with their consumers and understanding various buying behaviour patterns.
The service lets you segment your target as well as give out virtual loyalty cards with special offers like discounts, rebates etc.
M’Loyal has leading brands like VLCC, Forever New, Mochi, Baskin Robbins,Mango and many others as part of their client list. The service has been able to reach out to more than 5 million customers through these brands.
Vineet Narang, CEO of MobiQuest said,
“Indian retail industry is fast adopting technology to scale up operations and understand the consumer. With mobile penetration increasing every day, mobile phone is an ideal tool for customer acquisition, retention and engagement. Acquiring customer information and tracking purchase behavior is key to the growth of a retail brand. M’Loyal, allows brands to build a database of most relevant and visiting customers, tag each customer bill to identify, track and measure customer pulse. We are proud on the fact that today we have crossed 5 Million consumers on M’Loyal platform.”
According to MobiQuest COO Sabina Kamal, coupon redemption is growing significantly. Brands using M’Loyal have seen 21-24 % in redemption rates. Because of this, many retail firms have seen the potential the platform has to offer for them in the future.
With India’s vast base of mobile phone users and increasing use of Digital Media, it won’t be long before other brands start using innovate social media to reach out to their target markets.