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Presentation Transcript
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5 ways to Manage & Enhance Customer Loyalty<br>
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About Us – CitiXsys Technologies Business Drivers
Products for SAP® Business One in Retail, Warehousing, Distribution
Largest SAP® Business One Services Partner in the world
Installation, Implementation, Integration and Customization Services
Strategic Partner for SAP Ecosystem Opportunities
Operating Locations in US, Canada, UK, Australia and India
Global Employee Count: 225+
700 seat R & D and Support Center in India<br>
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Agenda & Introduction 5 ways to Manage & Enhance Customer Loyalty
Our Experience as a consumer
Why is it so important?
Loyalty Defined
How best to Manage it?
Can it be enhanced?
A case in point – iVend Loyalty<br>
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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….<br>
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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<br>
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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 about Relationships and their Longevity<br>
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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<br>
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How to Manage them? Strategize business goals
What do we want to achieve from the program
Increased traffic and sales
Increased referrals
How to structure the program
Lower MRP
Increased service offerings
Identify target segment
Demographics based
Buying seasons vary from region to region
Certain products are more popular in a particular region
Product or Service based
Promote a new product
Increase sales of the best selling product
Keep Loyalty Programs simple – to execute and to understand Collect the bottle caps
Complete the combination
Logon to get a secret code
Qualify for the sweepstakes
Thank you for being loyal…!!!<br>
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How to Manage them? Start with simple courtesies
Thank your customers for their business
Make realistic promises
Don’t kill the goose
Stay connected
With new and past customers
Share information
Send industry specific pertinent information to your customer
Give Referrals
Refer your customers and give them business wherever possible –let them know that you referred them.
Think Ahead
Know your customers business and needs. Anticipate their needs. Answer the question before it is asked<br>
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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<br>
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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<br>
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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<br>
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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<br>
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Case in point – iVend Loyalty User Defined Themes e.g. Bronze, Silver and Gold
Points-to-Currency conversion ratio for each slab
Redemption percentage against an invoiced amount for each slab
Threshold limits and rules for upgrade to the next slab or downgrade to a slab below
Current and Fallback based redemption methods
Points Management
Points Journal
Loyalty Point Aging
Flexible mechanism of upgrading or downgrading the status of a customer<br>
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Summary: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<br>
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Contact Us USA - CitiXsys Americas Inc New York Rockefeller Center 7th floor, 1230 Avenue of the Americas New York NY 10020 USA T: 1 212 745 1365 F: 1 646 349 3441 E: newyork@citixsys.com New Hampshire 264 South River Road, #474 Bedford NH 03110 USA T: 1 603 232 8252 F: 1 646 390 1988 E: newhampshire@citixsys.com Chicago 22nd Floor, The Merc, West Loop 30 South Wacker Drive Chicago, IL 60606 USA T: 1 630 359 5956 F: 1 630 697 1315 E: chicago@citixsys.com Chicago Cantera Center 4320 Winfield Road, Suite 200 Warrenville, Chicago, IL 60555 USA T: 1 630 836 8528 F: 1 630 836 8010 E: chicago@citixsys.com Canada – Toronto
CitiXsys Canada Inc 8th 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 42696600 E: 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 1515 E:sydney@citixsys.com<br>
