Tuesday, 14 May 2013

The key to success- Hold your customers through Retention programs

In a competitive business environment, this is very important to earn customer loyalty through conducting business with values and integrity, not through merely doling out rewards and discounts. It’s imperative, and relevant, that: every year marketers do spend a lot of money on generating foot falls but forget to implement customer loyalty and much time and effort is spent on building strategies that rewards customers with freebies, discounts, coupons and special offers, that is not enough as the customer is no more interested in discounts- he is looking ‘something’ extra and finding out this ‘extra’ for each customer is “Retention Management”.  

Now, with more attention being focused on Retention, perhaps it is time to re-emphasize the most fundamental of customer loyalty strategies: Retention with mobility- perhaps which helps you track the customer at the same time by offering him a value to associate with your brand and product & engage for the lifetime.
In today’s competitive mobile world, it is easy to believe that a marketer brings in customer loyalty tactics to the table. Yes, free coupons work, as do discounts and memberships. When your customers check-in at your outlet, remember he is not just concerned with the service or quality as these are obvious values you have inbuilt in your system, if not then probably you are a short term business. Customer looks at something creative and interesting to help him come back and connect with your brand and have spontaneous engagement.
According to Maritz Loyalty* in the US, the following programs rated highest in terms of overall satisfaction within each respective category in the Maritz Loyalty Report:
  • Financial Services -- Chase Ultimate Rewards (84 percent)
  • Entertainment -- Carmike Cinemas Rewards (79 percent)
  • Retail programs -- Kohl's Rewards (73 percent)
  • Hospitality / Hotel -- IHG Priority Club Rewards (67 percent)
  • Grocery -- Kroger Rewards (83 percent)
  • Airlines -- Southwest Airlines Rapid Rewards (58 percent)
About RewardZ Unlimited:

RewardZ Unlimited  is a product designed to meet Project marketing, Brand building and Loyalty management objectives. We help in meeting customer expectations, retention of customers through various engagement programs designed to bring in synergy and loyalty to the businesses.

Other category of solutions and programs evolve around Project Management, Employees Retention & business affiliates management and development.. We design, develop & manage these programs on behalf of our clients.

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