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.
- Precision targeting – Understanding the real needs and interest of the consumer will go in a long way in meeting the real objective of building a satisfied customer. A robust customer loyalty program must take into account your customer’s buying behavior and help you identify your most valuable customers.
- Increased customer spending – The ROI on any customer loyalty program should best be measured in terms of the net affect that a targeted loyalty campaign manages to deliver and amount of repeat purchases.
- Well-defined program – A well defined mobile loyalty program is often modeled on a strong CRM platform. Capturing insightful analytics in the form of vital customer data and buying pattern can go in a long way in identifying and implementing business strategies aimed at increasing profitability.
M’loyal by MobiQuest, a leading enterprise mobility solutions company incorporates all these important points and much more. It is an award-winning platform that recently won the Best Digital & Mobile Marketing Platform in Retail at World Brand Congress /Digital & Mobile Summit in Mumbai. To know more, contact now.
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.