Strengthen Customer Relations
Effective communication builds loyalty and trust.
In the business world, a company can successfully build its brand and its reputation in a host of ways including advertising, online marketing, social media and a number of other building processes. With a little hard work and a solid business plan, business owners can effectively communicate their brand message to a targeted audience.
But perhaps the factor most important for the continued success of a company is the relationships it continues to build and maintain with their loyal customers.
Customer-centric strategies are a key element in today’s highly competitive market. Having strong customer relationships is an important tool to boost one’s business, as well as in establishing one’s brand proposition. As such, loyalty programs are adopted to strengthen customer relationships. Loyalty programs are structured marketing efforts that reward, and in turn encourage, loyal buying behavior.
More importantly, participation in a loyalty program is not enough. The key challenge with any loyalty solution is to drive engagement among members to maximize the effectiveness of the program. And engaging loyal customers is where KickBack Rewards Systems is unrivaled in the loyalty business.
KickBack’s innovative solutions and unique approach to loyalty marketing are transforming the way retailers communicate and gather information on their customers to allow them unprecedented opportunities to provide outstanding customer service.
Using KickBack’s loyalty platform, retailers will learn how to manage the customer data that is streaming in, and if you’re not analyzing that data, you aren’t tapping the rich value of its content, including structured data (customer names, addresses, phone numbers, loyalty points, purchase amounts) and unstructured or semistructured data (images, emails, tweets, Facebook Likes and product reviews).
When structured and unstructured data are collected, merged, and analyzed, they can yield analytics and metrics to provide a better understanding of customer shopping habits, best-selling products, seasonal favorites, or the next big seller for your retail business.
The problem for many retail organizations is that while they may have friendly employees and a great offering, they woefully lacking in customer data. They know their customers, but they have no way of being able to communicate with them. So, they sit and wait for customers to come to them or spend a disproportionate amount of their money advertising. As such, some retailers develop loyalty programs with good intentions, but unclear objectives.
While retail loyalty programs have many purposes, KickBack recognizes that the greatest value that is created for retailers is the ability to identify individual customers and to measure and understand their individual behaviors. When this is fully understood, an organization can begin to rollout a comprehensive, targeted loyalty strategy that has clear goals and objectives.
The payoff, when this strategy is implemented effectively, can be enormous. Customers who are members of loyalty programs are more likely to make favorable return store visits. Beyond this main effect, members of loyalty programs tend to have stronger ties to the service organization than nonmembers.
For example, 12%-15% of customers are loyal to a single retailer, according to the Center for Retail Management at Northwestern University. But that small cadre of shoppers generate between 55%-70% of company sales! Some food retailers find that as much as 65%-95% of their sales go to members of loyalty programs (53% of food retailers offer loyalty programs with 3/4 of program customers using their loyalty cards at least weekly and 88% at least once a month).
But retailers can’t succeed with data alone. Doing the little things extremely well is key complement to any loyalty program.
For example, KickBack encourages retailers to strengthen their customers’ loyalty by understanding that relationships are built when:
- Customers want to associate with your employees. Ask yourself what behaviors might encourage this interaction, such as digital couponing and other customer rewards.
- Employees seek out opportunities for interaction. Engaging your customers makes them feel welcome and encouraging them to sign up for a rewards program will not only keep them coming back, they will appreciate the opportunity to earn rewards and feel like a VIC–a very important customer.
- Each employee interaction is positive and customer focused. Something as simple as informing customers of opportunities to earn additional rewards points will build trust with your customers and endear them to your brand even more.
And don’t underestimate the word-of-mouth value of satisfied customers.
“The experience that individuals have with a company and then what they hear from friends and family influence their perception of and likelihood to do business with a company,” says Megan Burns, a senior analyst at Forrester Research, a Massachusetts-based research firm that specializes in customer service. It’s “absolutely an essential moment of truth for companies.”
Contact a KickBack Rewards Systems today to learn about our turnkey loyalty solutions that will help strengthen your customer relationships or visit our Contact page.