What’s the most powerful indicator of your brand’s performance? Customer loyalty!
It’s a vital prerequisite for the success of your business and there are no two ways about it. It’s been proven by study after study that it is far more profitable to keep your existing customers than having to attract and acquire new ones. It’s quite obvious that the cost of acquisition is the reason why most of the brands work so hard to build relationships with their customers.
Loyalty not only increases customer lifetime value, it also improves brand awareness and bottom line. Customers who are loyal to your brand are the unsung heroes of your business because they interact more with your business and purchase more, and act as ambassadors for your brand by spreading good word about you to their friends and family. And loyalty programs are a great way to increase customer retention and loyalty. But the world’s moving fast and customer expectations are evolving, so you must leverage technology to keep up. Mobile devices are popularly known as the digital swiss army knife or should we rather say our generation’s most omnipresent technology? Customers love effortless and personalized experiences and mobile apps can help you achieve that. Mobile apps are a loyalty game changer!
Consider these stats:
Starbucks has one of the most widely used mobile apps and it’s so popular because of an engaging loyalty program. Starbucks rewards stars as in-app points. If you own a Teavana card and earn enough stars, you get a free beverage. The app allows users to transact through their phone, enjoy in-store refills and customized offers, and collect points for every dollar spent that can be further redeemed for food, beverages or merchandise. The app also keeps customers engaged with newest offers, personalized discounts and latest additions on the menu. Similarly Sephora’s mobile app lets customers discover new products, customize a virtual makeover, add tested products to their wishlist and browse apt content on makeup and cosmetics. Sephora has been able to increase retention and conversion rates because it optimized its user shopping experience with highly personalized content that comprises location-targeted promotions, regular updates, emails and push notifications. In India, Paytm encourages mobile customer loyalty campaigns too. Users can just scan QR codes to make payments via Paytm and in return get a cash-back in their Paytm wallet.
So, why should you bring your loyalty program on the mobile front?
Here’s how you can make the most of your loyalty program with a mobile app:
Having a robust customer loyalty program is a must-have for your business growth. Take your loyalty program to the next level with a compelling and easy-to-use mobile app.