Almost 61% retailers cite that customer retention is often overlooked despite the fact that a mere 5% increase in customer loyalty can increase gross margins by 25%-100%
Customer loyalty programs greatly influence customer purchasing behavior and are a proven way to grow and sustain market share. Brands are waking up to the significance of retaining existing customers and choose to implement a system that is directed specifically at building customer retention and loyalty. An effective loyalty platform enables marketers to identify shoppers at every touchpoint in the customer journey and across online and offline channels thus giving them a 360 degree customer view. Loyalty programs should reward customers for engaging and transacting with the brand so that increases in frequency of purchase (FOP) and average order values (AOV) are realized. Annex Cloud offers a robust and experiential loyalty platform solution that delivers a highly configurable and scalable online, omnichannel, social and behavioral and paid membership loyalty solutions. Loyalty Experience Manager guides customer behavior by offering rewards for specific brand engagement and actions including purchasing, referring friends, writing reviews, sharing pictures, signing up for newsletters, completing surveys, etc. and this is why Annex Cloud Loyalty Experience Manager has become the industry standard for new age loyalty.
