What springs to mind when you think of customer loyalty? Loyalty programs in the form of cards, points, rewards and other incentives. But while loyalty programs can bring customers through the door, they must go beyond transactional-based rewards to create a long lasting relationship with the customer. A points-based reward system leads to transactions but doesn’t necessarily strengthen loyalty. One has to go beyond points and cards for your customers to keep coming back for more. Relational experiences drive greater loyalty and increase CLV. Erin Raese, Head of loyalty strategy, Annex Cloud says, “In today’s time, you are seeing companies using loyalty strategies that go beyond transactional point-based strategies, to create emotional bonds with customers. They’re doing this by creating relevant and engaging experiences for their customers.”
Smart companies are taking steps to enhance the customer experience by moving beyond transactional-based programs and focusing on delivering relevant experiences. A recommended strategy is to make the most of each contact with your customer and establish multichannel communication (post, website, email, social networks, telephone, mobile app, in-store) and send relevant and meaningful messages. Today’s customers prefer personalized treatment, a feeling of exclusivity and enjoy being surprised by unexpected gestures of recognition.
So, the question is how do brands establish trust, drive engagement and create value for their most valued customers in today’s fast-paced, digital-driven world?
Annex Cloud’s advanced customer retention and loyalty solutions are designed to engage and reward your most valuable and profitable customers. Our ability to segment customers and personalize customer engagement has led to significant increases in average order values (AOV), frequency of purchase (FOP), and most importantly, the ability to retain valuable customers who are driving the majority of your revenue. To further illustrate this point, Sugarfina, a premium boutique candy company, saw their revenue increase by 15% and repeat transaction frequency increase by 57%. Request a demo today!