By now it is a well-understood concept that maintaining existing clients is less expensive and more profitable than acquiring new ones. This is further reasoned with a statistic from Accenture that states that 57% of consumers spend more on brands to which they are loyal. Therefore, a customer is more likely to be associated with your brand for the long term if you engage them in some sort of loyalty program which benefits them.
This will eventually increase your conversion rate on customer retention parameters. Going with this premise, VCQRU identifies the accelerating trend of mitigating your loyal clients from turning to the competition and maximizing the lifetime of a customer by offering them tangible encouragement into repeating their purchase.
A successful loyalty program is a win-win situation for a brand and VCQRU not just makes it a necessity but also promotes it through various schemes. We help businesses generate more revenue while staying on our toes for the highest quality customer service.
With cut-throat competition in the global world, managing one’s business online and offline tends to be overwhelming. VCQRU enters this domain with cutting-edge technology and a pool of creativity to offer your business to retain customers.
Allow us to walk you through the VCQRU methods in a loyalty program that retain customers-
01. Personalization throughout the customer journey
VCQRU uses the customer loyalty program to use relevant information of customers and personalize their experience throughout the buying journey. For example, when you have some existing clients and their basic details such as preferences, buying patterns, you can use this information to turn it into a tangible benefit for both the brand and the client.
To add cherry to the personalized concept, while customers respond well to this factor, it creates satisfaction among the clients who would come back to feel special. This can be understood by the example of Nykaa that stores your information on skin tone, skin type, makeup preferences and in turn offers you a tailored solution through searches. Demonstrating that you identify your customer's choices and understand them makes a huge difference in retaining them.
02. Makes the Customer Journey and Experience Streamlined
One of the most vital aspects and benefits of a loyalty program is that it streamlines the buying journey of a customer. For example, once you have all the basic details of your customer, all you would need during the checkout process is a customer click on the buy button. Imagine how easy it would be for a client and they would love the buying experience.
To make it more exciting, brands would offer you points or perks upon completing a purchase and every time you write a review or make payment through the app. This is followed by famous brands such as Starbucks, where a loyal client will not require to stand in long queues and just pay through the app with a quick click.
03 Delights Customers
Delighting your loyal or prive customers hold the key to retaining them. Now, delighting would not necessarily mean to entertain them always. It would also mean to send them a surprise gift on their birthday or occasionally offer them additional treats on the purchase of a certain amount.
Amazon is a great example that offers one day delivery of goods and services and endless streaming rights to the prime members. A loyal customer can be delighted in various ways if you pay attention to what your brand stands for and what are your offerings. You can focus on the mode or channel you are using as a selling medium and make use of that to delight and surprise your loyal customers to keep them from moving to your competition.
The most important part is that if you have an idea to delight your loyal clients, go ahead with it. Just because a concept is not being implemented already, does not mean it will not work!
Trust and Bonding
A loyalty program stands for trust and a strong bond. When you identify your client's needs and address them with your products and services without their intervention, the act creates a level of trust and helps to retain them, for long.
Moreover, connecting them over all the social media is another way you can bond with and promote yourself to keep them engaged. A good customer loyalty program encompasses trust between your brand and customers and VCQRU does exactly this.
t creates a relationship between clients and businesses through listening to the customers, asking for their feedback and implementing their suggestions wherever required.
An insight into the improvement areas
While you ask for preferences, feedback and suggestions from your clients in the form of forms and surveys, you not only collect their information but also expand the scope of improvement.
As your loyal customers, they're more likely to fill the form or survey and say the truth about your brand. Looking closely, you can use this information to fill the loopholes and create a better browsing and buying experience for your loyal customers. This strategy also helps in spreading information about the brand through word of mouth which in turn brings new clients.
03 3.A chance to constantly evolving business
Evolution is a constant phase that never ends and so does the improvement of your business. So, VCQRU helps a business through relevant research that is effective for their brand growth and works to retain customers.
This includes branding, marketing, sales programs and promoting a product. Businesses do not just have to rely on technology to retain customers, but constantly improve the different verticals of the brand to increase their loyalty program.
While a lot of companies might settle with a stagnant loyalty strategy, VCQRU adopts new and more effective ones to both surprise and satisfy the customers. After all, a satisfied customer will always come back to your brand for re-purchases.
To help brands achieve their ultimate goal of enhanced ROI, VCQRU with the amalgamation of cutting-edge technology and innovative tailor-made services enables businesses to earn, maintain, and enhance customer loyalty through the brand loyalty program.
