5 ways to manage and enhance customer loyalty v1.2

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5 ways to manage and enhance customer loyalty v1.2

  1. 1. 5 ways to Manage & Enhance Customer Loyalty<br />
  2. 2. About Us – CitiXsys Technologies <br /><ul><li>Business Drivers
  3. 3. Products for SAP® Business One in Retail, Warehousing, Distribution
  4. 4. Largest SAP® Business One Services Partner in the world
  5. 5. Installation, Implementation, Integration and Customization Services
  6. 6. Strategic Partner for SAP Ecosystem Opportunities
  7. 7. Operating Locations in US, Canada, UK, Australia and India
  8. 8. Global Employee Count: 225+
  9. 9. 700 seat R & D and Support Center in India</li></li></ul><li>Agenda & Introduction<br />5 ways to Manage & Enhance Customer Loyalty<br />Our Experience as a consumer<br />Why is it so important?<br />Loyalty Defined<br />How best to Manage it?<br />Can it be enhanced?<br />A case in point – iVendLoyalty<br />
  10. 10. Where do we experience it?<br />North America alone has over 1.2 billion+ loyalty programs underway at any point<br />Every house hold is typically a member of over 6 loyalty programs<br />Loyalty Programs have traditionally been offered by <br />Airlines<br />Credit Card Companies<br />Grocery Stores<br />Restaurants<br />There are all sorts of loyalty programs<br />Bill Value based<br />Quantity based<br />Promotional (Buy some get some)<br />Many more…. <br />
  11. 11. Why is it so important?<br />68% of customers are lost due to indifference. Indifferent customers are a result of pure neglect - Michael LeBoeuf, Ph.D., author of How to Win Customers and Keep them for Life<br />You can increase profits by as much as 95% through increasing retention by as little as 5% - Bain & Company<br />It is far too expensive (over 7 times) to acquire a new customer as against getting repeat business from an existing one<br />Loyal customers are your best marketers<br />
  12. 12. What is it Anyway?<br />Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior which is potentially of benefit to the firm – Wikipedia<br />They help better understand and monitor customer preferences and buying patterns and in turn reward the preferences<br />Loyalty is NOT about Points and redemption<br />Loyalty is aboutRelationships and their Longevity<br />
  13. 13. What is it Anyway?<br />Its about getting more customers to<br />Buy more<br />More Frequently<br />A business tool to increase revenue by<br />Building customer relationships<br />Targeted promotions and rewards<br />They increase<br />Recency<br />Frequency<br />Purchase Dollars<br />
  14. 14. How to Manage them?<br />Strategize business goals<br />What do we want to achieve from the program<br />Increased traffic and sales <br />Increased referrals<br />How to structure the program<br />Lower MRP<br />Increased service offerings<br />Identify target segment<br />Demographics based<br />Buying seasons vary from region to region<br />Certain products are more popular in a particular region<br />Product or Service based<br />Promote a new product<br />Increase sales of the best selling product<br />Keep Loyalty Programs simple – to execute and to understand<br /><ul><li>Collect the bottle caps
  15. 15. Complete the combination
  16. 16. Logon to get a secret code
  17. 17. Qualify for the sweepstakes
  18. 18. Thank you for being loyal…!!!</li></li></ul><li>How to Manage them?<br />Start with simple courtesies<br />Thank your customers for their business<br />Make realistic promises<br />Don’t kill the goose<br />Stay connected<br />With new and past customers<br />Share information<br />Send industry specific pertinent information to your customer<br />Give Referrals<br />Refer your customers and give them business wherever possible –let them know that you referred them.<br />Think Ahead<br />Know your customers business and needs. Anticipate their needs. Answer the question before it is asked<br />
  19. 19. How to enhance Customer Loyalty<br />Keep up with Marketing Trends<br />Its more about enhancing experience than just points and their redemption<br />Identify and monitor your best customers<br />Collate data, analyze spending patterns<br />Customers spend more in North America than their counterparts in Asia<br />
  20. 20. How to enhance Customer Loyalty<br />Create brand recognition<br />Be present at the right place and not All places<br />Get regular feedback from customers<br />Leverage Social Media<br />Make it easy for customers to provide feedback<br />Act upon the feedback<br />Its no good if you only listen and don’t act<br />
  21. 21. Case in point – iVend Loyalty<br />A platform seamlessly integrated with iVend Retail<br />Out of the box configuration<br />Default Setup<br />Personalization (for unique web presence)<br />Dual modes of operation<br />Online as well as offline<br />Integration and Support<br />Web Service Support<br />Integration with SAP<br />
  22. 22. Case in point – iVend Loyalty<br />Usability and Design<br />Wizard Based Setup<br />Intuitive User Interface<br />Exception Management and User Help<br />Multiple Registration Modes<br />Customer ID:<br />Loyalty Card or:<br />Loyalty Card Attached to a Customer ID<br />
  23. 23. Case in point – iVend Loyalty<br /><ul><li>User Defined Themes e.g. Bronze, Silver and Gold</li></ul>Points-to-Currency conversion ratio for each slab<br />Redemption percentage against an invoiced amount for each slab<br />Threshold limits and rules for upgrade to the next slab or downgrade to a slab below<br />Current and Fallback based redemption methods <br />Points Management<br />Points Journal <br />Loyalty Point Aging <br />Flexible mechanism of upgrading or downgrading the status of a customer<br />
  24. 24. Summary:Whyis it so important?<br />68% of customers are lost due to indifference. Indifferent customers are a result of pure neglect - Michael LeBoeuf, Ph.D., author of How to Win Customers and Keep them for Life<br />You can increase profits by as much as 95% through increasing retention by as little as 5% - Bain & Company<br />It is far too expensive (over 7 times) to acquire a new customer as against getting repeat business from an existing one<br />Loyal customers are your best marketers<br />
  25. 25. Contact Us<br />Canada – Toronto <br />CitiXsys Canada Inc8th Floor, 2425 Matheson Blvd. East Mississauga, ON L4W 5K4 Canada T:1 905 361 2886 F:1 905 361 6401 E: toronto@citixsys.com<br />EMEA - London <br />CitiXsys UK Ltd Lakeside House, 1 Furzeground Way Stockley Park, Uxbridge UB11 1BD United Kingdom T: 44 0 208 622 3006 F: 44 0 845 280 8848 E: london@citixsys.com<br />India - New Delhi<br />CitiXsys Technologies Pvt Ltd A-24/5, MCIE, Mathura Road New Delhi 110044 India T: 91 11 42696666 F: 91 11 42696600E: newdelhi@citixsys.com <br />Asia Pacific - Sydney <br />CitiXsys Australia Pty Ltd Tower 2, Level 20, 201 Sussex Street Sydney NSW 2000 Australia T: 61 2 9006 1616 F: 61 2 9006 1515E:sydney@citixsys.com<br />USA - CitiXsys Americas IncNew YorkRockefeller Center7th floor, 1230 Avenue of the Americas New York NY 10020 USAT: 1 212 745 1365 F: 1 646 349 3441 E: newyork@citixsys.comNew Hampshire264 South River Road, #474Bedford NH 03110USA T: 1 603 232 8252 F: 1 646 390 1988E: newhampshire@citixsys.com Chicago22nd Floor, The Merc, West Loop30 South Wacker DriveChicago, IL 60606USAT: 1 630 359 5956F: 1 630 697 1315E: chicago@citixsys.com ChicagoCantera Center 4320 Winfield Road, Suite 200Warrenville, Chicago, IL 60555USAT: 1 630 836 8528 F: 1 630 836 8010 E: chicago@citixsys.com   <br />
  26. 26. Questions…???<br />www.citixsys.com<br />www.ivend.com<br />
  27. 27. Thank you!<br />

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