Customer loyalty is the core of any customer centric function, and illustrates the loyalty built between the customer, organisation, persons, products or brands. Customer loyalty is the key determinant of happy customers and thus the organisation’s success.
The greatest value from a Customer Loyalty Program is its ability to retain existing customers. Industry leaders regard it as the most cost efficient marketing tool to retain existing and returning customers and run, apart from running highly effective marketing initiatives to select customers based on their individual purchase pattern / behavior.
A loyalty program provides a practical and compellingreason for continuous buying which in turn enables customer intelligence. A new customer acquisition can take up to 5x time and effort / money than retain and sustain an existing customer. Also, acquire new customers through powerful and incentivising loyalty programs that aptly fits their lifestyle and aspirations.
3 out 5 customers are willing to give up a former/favorite brand for a new one with better service and shopping experience. Constantly differentiatefrom your competition through better customer understanding and follow up action.
Understand customers through data. Identify the best customers and their preferences. Ability to swiftly act on customer data through actions directly impacts the "most loyal" customers positively.
Reduction in customer churn can have major impact on profitability. Reduction by 5% may lead up to 125% profit increase.
Move beyond day to day transactions. Monitor,reinforce and reward customer behavior. Build marketing campaigns/promotions that arein sync with customer expectations.
Jump in visits per customer, spend per visit and higher frequency of purchases. Lift in product targetedsales, improve sales velocity and basket size.
Move beyond day-to-day transactions. Monitor, reinforce and reward
Product specific sales, Sell lower selling items through special incentives, bonus points during slow periods
Reduce customer churn to increase profits
Retaining an existing customer is easier than finding a new one
Increase foot-fall/visits, frequency of purchase and improve average spend
Understand your customer through data and analytics. Four Basic reasons how Retailers can benefit from Customer Loyalty Programs
Spending of Existing
Increase Customer Visits
Products (Brand Loyalty)
One Loyalty helped Fern Hotels and Resorts roll out Green cover reward programme. One Loyalty’s ease of use and great features are a big factor in Green cover’s success.
Sr. Vice President - Operations
The Fern Hotels and Resorts
Reliance Money chose One Loyalty because it offered the best combination of innovation, scalability, security, user friendliness and value added features. Reliance's Loyalty program is used by over 5 million users. It is highly stable and we received positive feedback from our customers. We are extremely happy with the software product and also appreciate the subject matter expertise and support provided by One Loyalty team.
Head - Brand & Communication
Reliance Capital (Reliance Money).
Damro’s Smart rewards program was implemented using One Loyalty framework. Damro zeroed in on One Loyalty as it was a perfect fit for the retail industry. Damro saw a significant jump in customer interest due to several options to redeem the points. The icing on the cake was the analytics that has helped Damro’s marketing initiatives to be tailored based on customer intelligence.
Damro Exports (Pvt) Ltd
Narula’s Ghar Sansar - one card for the entire family’ – Loyalty program needed a reliable framework and implementation and we choose One Loyalty. As a retail outlet that is extremely customer focused, the Ghar Sansar Loyalty program has made our customers come back for more and we were able identify our high value customers and design our promotions based on that. A big hit with our customers is the ability to redeem the points at POS.
Some of our happy customers who were able to benefit from our solutions.