The
main reason behind the implementation of loyalty programs is to make
your customers motivated to stay loyal to the business. But, most of
the time we have noticed that it does not turn out the way a business
want. It usually struggles in the formation of efficient programs for
the promotion of its brand and building its affinity, particularly
because of the lack of insights as far as buying patterns of
customers is concerned. Despite of having various loyalty programs
stationed, constant failure in the conversion of the onetime buyer to
repeat customers is very common. According to a study of SAS, there
is nominal effect as far as effectiveness of loyalty programs are
concerned. The survey scores the effectiveness rate with an average
of 6.5 out of 10. It would be correct to say that an upsurge in the
number of loyalty programs has somewhat resulted in uninvited
consequences for business, especially in the retail sector.
In
order to create a unified CX (customer experience), there is a need
for retailers to focus on providing the overall experience across
multiple channels before the utilization/implementation of loyalty
programs in the activities of consumer retention. But, for most of
the businesses in the retail sector, consumer data is present in
isolated and segregated sales, support and marketing silos, making it
hard to create a customer’s holistic view, thus, failing to bestow
a unified CX. The implementation of big data analytics solutions could easily play an
important role in determining various features of the customer’s
journey, and in turn, producing highly relevant insights on what to
provide them.
Loyalty Programs for Customers have no longer
remained an exclusive edge that businesses enjoyed over their
competition, but they have become an essential part of CX. In order
to get the desired results, big data analytics
solutions play an immensely important role.
Clavax Technologies LLC specializes in
offering loyalty programs catering to the needs of diverse clientele.
Moreover, the company’s solutions for big data analytics help
retail businesses in the creation of personalized loyalty programs
targeting various segments of the audience.
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