Why are brands still investing in the age-old loyalty strategy? Because 3.3 billion is a staggering number, which is only escalating and every brand knows a retained customer is more valuable than an acquired one. The strategy may be decades old, but the dynamics of loyalty programs are periodically constantly evolving to appeal to the tastes of the newer audiences, cater to the needs of the hour and cope with ever-increasing competition. In order to increase loyalty programs and overall consumer retention, companies have taken to expanding their rewards programs to incorporate social and behavioral actions while also attempting to provide their customers with a more personalized experience.
Customer retention programs are a great way to reward your customers for their loyalty and frequent engagement with your brand. Let’s be honest, we as customers generally prefer to do business with people that are happy, responsive and most importantly feel valued. A great customer loyalty program adds value by distinguishing your brand from other competitors. It can also accelerate the loyalty life cycle.
Loyalty Marketing in retailcloud CRM is a solution that helps merchants give the right offer to their customers, at the right time and in the right way. This helps merchants attract new customers, retain existing customers and reactivate dormant ones. With Loyalty Marketing, you will have a 360° view of your customers and their profiles, purchasing history and even behaviors.
Through the Loyalty Marketing feature, we aim to help businesses build relationships with their customers and encourage customer participation. By encouraging your customers to engage with your brand through sharing content, making referrals and spreading the word about your business, you can create a strong base of dedicated advocates that will be more likely to continue engaging with your brand throughout their whole journey with you. Loyalty Marketing Programs are designed to engage customers with a points based program that they can use to exchange for freebies and perks. Including things like: Exchanging points for cashback, discounts, merchandise, product discounts or exclusive offers.
At retailcloud we offer a complete text messaging service that allows you to send personalized, targeted messages to your customers according to the specific goals for each program. We handle everything from customer opt-in/out, to sending out texts, keeping track of unsubscribes and maintaining your lists. We also do data mining and analysis on our customers from text message campaigns so that you can accurately measure the effectiveness of your campaigns based on what segments respond best.
Loyalty marketing has been proven to positively impact businesses in every industry, as it impacts all key metrics such as customer retention, expansion, and profit margins. By creating a comprehensive loyalty program that allows for modern marketing techniques, you can turn your customers into advocates for your brand. Since modern consumers trust peers over advertising, fostering loyal customers who will then speak out on your behalf is simply a smart business move.
Loyalty is a powerful business strategy, but only if you have the right tools to drive it. At retailcloud, we offer a loyalty marketing platform that enables your team to create and deploy smart loyalty plans to maximize customer retention and increase sales. And our solutions can be deployed within minutes, and will contain all the support you need. Whether you’re looking to enhance your current program or launch your company’s first loyalty initiative, let us help!
(If you would like to schedule a live demo with a sales engineer from retailcloud, you may do so here: https://schedule.retailcloud.com/#/customer/retailcloudappointments)