Loyalty programs are powerful ways to engage your customers and drive sales. They are extremely helpful in understanding which customers continue to participate with their brand. Loyalty programs are a common practice now so businesses must find ways to better compete. In collecting and analyzing data from these programs, a business can effectively measure their success and adjust their programs to better reflect consumer trends and buying habits. In measuring program effectiveness, it is key to look at customer retention, fluctuation in frequency of visits, “buzz” about a brand, and increases in the amount purchased.
The goal in creating a successful rewards program is to create a personalized experience for the customer. This is much easier to achieve in a brick and mortar location than via an online platform due to the ability to use sensory experience to a brand’s advantage. Physical stores have the ability to appeal to all of your senses, and bring customers in their “world” using décor, displays, and employee practices. While there are methods to customize the experience online as well, it is certainly more difficult to replicate physical experiences.
The major advantage of non- brick and mortar sales channels, is the amount of data they can easily collect on their consumer, which can be tracked, analyzed, aggregated, segmented, etc. To maximize loyalty success, a business must manage their programs across multiple sales channels. In doing so, they can form longer lasting relationships with their clients. Contact HSO to see how an ERP solution can help you make the most of your loyalty programs today.
About HSO Retail
HSO, Microsoft’s ERP Partner of the Year 2014, is a leading provider of enterprise business solutions for the Multi-Channel Retail and Service industries, including Microsoft Dynamics AX, CRM, Office365 and SharePoint. For more information, contact HSO at (847) 348-0588, through email info-usa@hso.com or visit www.hso.com/us.
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