Effectiveness of a Mobile Customer Loyalty Platform
Tracking purchase pattern of existing customers and rewarding repeat purchases has become a widely acknowledged strategy by brand managers across the globe.
An important question to begin with is: “Why would a customer be loyal to a brand?”
Step in to the shoes of a customer and the answer to this pertinent question will itself reveal:
Customer Loyalty should be ranked above Acquisition – Did the brand remember me after cutting a deal? It happens so often that organizations get overzealous in acquiring new customers that they forget the existing ones. CustomerAcquisition must go hand-in-hand with Retention strategies to Engage customers by making them happy and get repeat business from them. The C.A.R.E. formula is what you need for your business.
Customer friendly approach– Many a times ‘a casual stroll’ inside a shop by a customer is the opportune moment for a salesman to make merry. You must SEIZE THE MOMENT and steer clear of employing pushy salesmen who would sell what they want and not address the precise needs of the customer. Keeping your business and every aspect of it ‘customer-friendly’ helps.
Create an effective online presence – While coming to a buying decision a customer will fall back upon logic. He will take the Internet route, research about your offerings, evaluate it against his requirements, read online reviews, compare prices across brands and only then invest money. Is your business online and search engine friendly?
Product/Service – Last but not the least, if customers fail to get the ‘value for money’ experience out of using your products or services they will drift away. Invest a lot of effort and money into improving your products/services to prevent them from losing out to competition.
Half the battle won: If you manage to wow your customers at every step of the interaction process.
To win the other half: You need a scalable and robust Customer Loyalty platform to add that missing ingredient to your Customer Engagement initiatives; a platform that will seamlessly integrate with your billing systems and collect important customer insight based on the RFM model i.e. Recency, Frequency and Monetary aspects of consumer spending.
Today, the hot and happening Retail Sector in India extensively uses mobile customer loyalty cards that empower customers to redeem loyalty points at a Point of Sale (POS). MobiQuest, a leading enterprise mobility solutions company offers a mobile loyalty solution called m’loyal to its clients. It is a comprehensive customer loyalty platform that combines tools across media to analyze consumer purchase patterns, invoke repeat purchase and increase redemption rates. M’loyal by MobiQuest today has more than 5 million customers on its network, presence across 10,000 POS terminals and has now put over 60 brands live on this platform.
Benefits of M’loyal Mobile Loyalty cards include:
Saves printing overheads
Effective for product promotions
Instant connect with the customer
Improved Customer Insights
The effectiveness of a Mobile Customer Loyalty Platform cannot be undermined in the light of the above discussion.
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.