10. Where do we experience it? North America alone has over 1.2 billion+ loyalty programs underway at any point Every house hold is typically a member of over 6 loyalty programs Loyalty Programs have traditionally been offered by Airlines Credit Card Companies Grocery Stores Restaurants There are all sorts of loyalty programs Bill Value based Quantity based Promotional (Buy some get some) Many more….
11. Why is it so important? 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 You can increase profits by as much as 95% through increasing retention by as little as 5% - Bain & Company It is far too expensive (over 7 times) to acquire a new customer as against getting repeat business from an existing one Loyal customers are your best marketers
12. What is it Anyway? Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior which is potentially of benefit to the firm – Wikipedia They help better understand and monitor customer preferences and buying patterns and in turn reward the preferences Loyalty is NOT about Points and redemption Loyalty is aboutRelationships and their Longevity
13. What is it Anyway? Its about getting more customers to Buy more More Frequently A business tool to increase revenue by Building customer relationships Targeted promotions and rewards They increase Recency Frequency Purchase Dollars
19. How to enhance Customer Loyalty Keep up with Marketing Trends Its more about enhancing experience than just points and their redemption Identify and monitor your best customers Collate data, analyze spending patterns Customers spend more in North America than their counterparts in Asia
20. How to enhance Customer Loyalty Create brand recognition Be present at the right place and not All places Get regular feedback from customers Leverage Social Media Make it easy for customers to provide feedback Act upon the feedback Its no good if you only listen and don’t act
21. Case in point – iVend Loyalty A platform seamlessly integrated with iVend Retail Out of the box configuration Default Setup Personalization (for unique web presence) Dual modes of operation Online as well as offline Integration and Support Web Service Support Integration with SAP
22. Case in point – iVend Loyalty Usability and Design Wizard Based Setup Intuitive User Interface Exception Management and User Help Multiple Registration Modes Customer ID: Loyalty Card or: Loyalty Card Attached to a Customer ID
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24. Summary:Whyis it so important? 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 You can increase profits by as much as 95% through increasing retention by as little as 5% - Bain & Company It is far too expensive (over 7 times) to acquire a new customer as against getting repeat business from an existing one Loyal customers are your best marketers
25. Contact Us Canada – Toronto 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 EMEA - London 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 India - New Delhi 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 Asia Pacific - Sydney 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 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
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