Some loyalty facts
- According to a Deloitte*, companies that invest in customer loyalty are up to 88% more profitable than their competitors
- According to another study, winning from a customer who has already interacted with our brand is 6 to 7 times easier than a prospective [Market Metrics]
- On the other hand, 89% of consumers would give up a brand if they had a negative experience [Liquid Agency]
Facing the problems
Since technology has become a key part of our lives, there has been a fundamental change in the way consumers search for and use information. Modern consumers are becoming more and more demanding, more informed and less loyal. Faced with their tremendous choice, in many cases, customers become loyal to a brand, not only for the products and services themselves but also for the customer experience that the company offers them. Customer engagement at every point of contact plays a huge role in positioning and branding but is often a neglected part of the consumer path, because of which companies often lose a large part of their customers, missing benefits from key points of interaction.
LOYAX Solution
That’s what we are trying to address at Loyax – provide businesses with intelligent solutions that engage customers and influence the purchasing decision, helping businesses get the most out of every point of contact. Because we believe that with the great choice that consumers have, only businesses that know the preferences of their customers and keeping them engaged will succeed. Our goal is to help businesses, using various innovative technologies, capture the moments of decision making, offer a high level of personalization, and maximize contact points.
Using Beacon technology, businesses can target users who are close to their venues and attract them with different offers.
Another option that allows Beacon technology is to send personalized messages depending on the location of the customer – targeting a range of products or displaying product-specific information.
Going to the POS, the user can scan their loyalty card or mobile application by receiving bonus points, vouchers or cash backs based on their purchases.
And last but not least, businesses can engage their customers with customized push notifications and social network campaigns, reaching the customer at every stage of the consumer path.
As a result of our solution, the benefits for business are:
- Retaining the existing customers
- Add new points of interaction
- Customize each step
- Detailed analyzes of past and future client behaviour
- Building a strong relationship between the brand and the customer
- Increase customer satisfaction
- Building a complete user experience
- Increase revenue
Success Story
An example of a successful customer of our solution is one of the largest shopping centres in Bulgaria – Galleria Shopping Malls (Please, also check Galleria Shopping Mall Case Study). The solution was awarded in the top 6 loyal programs worldwide by Loyalty360 – The Association for Customer Loyalty. The results we measured between 2014-2016 are the following:
- 141% increase in customer consumption (consolidated results)
- 41% increase in average customer’s consumption (consolidated results)
- 72% increase in the average amount of a cash receipt (consolidated results)
- 112% increase in customer visits (consolidated results)
Our goal is to continue to create and develop even better intelligent solutions that help businesses build stronger relationships with their customers and create a better experience for both business and customers.
REFERENCES
1. Deloitte
2. Market Metrics
3. Liquid Agency
4. Loyalty360
5. Galleria Shopping Mall Case Study