7 Ways Your Loyalty App Can Help Your Business Grow

by Natasha Ambavle |

In 2022, loyalty is the talk of the town. While most brands are reaping the benefits of their loyalty strategies, others are adopting loyalty marketing and upgrading their programs to suit the requirements of modern-day consumers. A loyalty card app for business has become a necessity in this day and age. With a number of strategic advantages, a loyalty app can help your business in more ways than one. Listed below are 7 ways that a loyalty app can grow your business exponentially.

  1. It can track your customers and help to extract data – Today, data is the new currency. Be it for starting a new business, amplifying your reach, or staying in the competition, you need data. With Google phasing out third-party cookies, more and more brands and companies are relying on loyalty programs to extract zero and first-party data. With your loyalty card app for business, you can mine vital customer data that is not just relevant and authentic but also legally and ethically sourced. The loyalty program app will give you great insights on your customer purchase patterns, history and other important information that can help you improve your business and marketing strategies and give you a competitive edge.
  2. Improve brand recall and engagement – From Gen X, Gen Y to Gen Z everyone is on their mobile phones. It has become the singular source for news, entertainment, shopping and recreation. With every download of your loyalty app, your brand becomes a semi-permanent (subject only to app deletion) fixture in your customer’s device. Every click on the app helps with customer engagement, with every minute spent of the app, customers become more engaged with the brand. Even if the app is not used regularly, its presence itself helps in improving brand recall value.
  3. It can improve customer experience –The data you extract through your loyalty program and the corresponding app will provide you with insights and information to help you improve customer service and solve issues customers may have. Your loyalty app can help you understand your customers better, create personalized experiences and aid in improving the overall customer experience which is of utmost importance these days. Just by improving customer experience, you could your revenue by $1 billion, especially if you are a SaaS company. By current statistics, customer experience is expected to overtake price and product quality as a key differentiator and with your loyal card app for business, you could gain a competitive edge.
  4. Close customer feedback loops – Since 2017, brands and companies have come a long way in understanding the significance of customer service. With every brand upgrading their customer support, customer expectations are on the rise. Today, customers want easy-to-access service and prompt resolutions and a loyalty app makes all this possible. With the app installed in their devices, it becomes the go-to place to raise flags and communicate with support. Your application can help in addressing customer grievances and closing the customer feedback loop thereby, significantly improving customer experience.
  5. Improve customer satisfaction – The logic is simple, if you want to retain your customers, you need to keep them happy and satisfied. The book, Marketing Metrics, emphasizes that companies have a 60 – 70% chance of selling to an existing customer while the probability of selling to a new customer is only 5% – 20%. So eventually, retaining customers is much more profitable to a company than acquiring new customers and retention is only possible if the customer is happy with the service. With the loyalty card app for business, you can improve customer service and experience with are key factors that will aid in boosting satisfaction and retention rate.
  6. Make referrals easier – Acquiring new customers can be a tedious and expensive process but a strong referral program can be successful in improving brand reach and even acquisition rate. A referral feature in your loyalty app will encourage existing customers to actively promote the brand and refer it to friends and family members. It can also help with targeted marketing since customers are smart and are bound to recommend your brand and products only to customers that they think might be your target audience. Word-of-mouth marketing is a strong form of promotion and you can successfully leverage it through your loyalty program app.
  7. Amplify the brand’s social presence – With the social sharing feature in your loyalty app you can encourage customers to ‘talk’ about your brand on their social media accounts. Incentivizing social sharing can help with organic promotions and can massively increase brand reach and awareness. With your loyalty app, sharing posts, referring friends becomes much for accessible and easier for customers and they are more inclined to participate in your program.

Partner with Annex Cloud for Your Loyalty Card App for Business

Annex Cloud is a global provider of loyalty SaaS technology. Having scored the highest possible scores in 15 criteria in the new Forrester Wave, Annex Cloud is your best bet to design top-of-the-line loyalty strategies with the latest technological capabilities for higher returns. Want to know, how Annex Cloud can amplify your business and improve customer retention rate? Connect with our Loyalty Experience Manager.

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