Daily Tip – After The Sale (Consumer Loyalty)
After The Sale
Once the sale is made, retailers must advance one-time consumers into repeat customers.
Consumer Loyalty. Effective loyalty programs are a top sales tool in generating repeat sales and increasing customer share. Unfortunately, most retailers don’t give these programs the strategic planning they deserve. The combination of customer personalization, appreciation and recognition result in repeat business. Developing loyalty program goals is pretty straightforward. Where loyalty programs tend to underperform is when they deliver less than relevant and contextual offers. Across the board discount coupons produce low conversions and erode already thin margins. Instead, delivering highly customized offers by accessing the customer profile and purchase history from the CRM system will increase conversions and result in improved up-sell, cross-sell and margin contributions. Whether introducing new products, holding a special store event, or simply recognizing your best customers for their patronage, using relevant and personalized data will enable you to engage customers, get consumers back into the store, sell higher margin merchandise and enhance the customer experience.
Link – CRM