Can Loyalty program drive guaranteed revenue ?

It is believed that customer loyalty program earns noble customers for the businesses by offering extra benefits & care to the customers. Even though it’s proven, recent statistics shows that almost all customer loyalty programs are a failure and it doesn’t drive enough profit to the merchants.
The following link will lead you to a study conducted by Advertising Age India related to the problems with the loyalty program.

Read the full article at http://www.adageindia.in/agency/agency-news-viewpoint/the-problem-with-loyalty-programs/articleshow/55209902.cms

CRMs have become part of every business strategy, but common CRM features & functional deficiencies are still affecting customer management and causing retrogressive effect on the businesses.

We identified similar problems during the development of COIN and came up with ameliorate technological & practical solution to overcome the same.

COIN is a flake, made to interact with businesses to deliver meaningful insights on consumer data. It is not just a tool for tracking transactions, build rewards or disperse vouchers and coupons but a predictive tool that analyzes & interpret mass complex customer data and propose the best solution to the merchant for conducting campaigns, promotions or discount sales.

COIN CRM features:

– Know your loyal customers: RFM based COIN monitors customers’ store visits & spending nature which drives the business to develop consumer-centric promotions and services.

– Sales forecasting: It helps to predict your sales growth over a period and also assist you with developing business strategies to reach out to the desired profit range.

– E-Commerce friendly: Set up independent E-shopping sites for your business without spending an extra penny from your pocket.

– Revenue driving technology: COIN guarantees profit driving through its unique customer engagement and sales driving features.

Comments

Ecommerce challenges and how to overcome them?

E commerce is growing faster than nearly every other industry. At the same time, e-commerce is certainly an industry that has plenty of challenges. COIN’s E-shop technology could help in overcoming these challenges. Tracking the customer's journey COIN capture customer’s journey from the website, revisiting, shopping habits and more to the incremental success. With this data being nested under one hybrid umbrella, retailers now have immediate access to loyal customer insights that empower them to create a memorable customer journey that improves the sales and long term retention. It also enables retailers to better forecasting trends, sales, returns and more. Coin’s cross channel e-commerce world. Before the technology era, retailers would spend hours shifting, through their analytics and try updating their PPC campaigns, setup retargeting goals and compare numbers between shopping engines. This meant that they were guessing on customer behavior most of the time. Thi...

Simple Loyalty Tips to keep your Customers Coming

Did you know it costs a company about 5-10X more to acquire a new customer than it does to sell to an existing one? Not only that but on average, current customers spend 67% more than new customers. In light of statistics like these, businesses must think about what they are doing to keep their customers coming back to their business. Hence, few minor features in our loyalty CRM called COIN address on how to keep the customers coming back. The features seem to be minor but bring a huge impact. For instance, we represent the reward points as currency i.e., 1 Point = 1 INR. 20 Points equal 1 Rupee and 50 Rupees would lead you to win a reward is a bit confusing for customers. We thought we will keep it simple, hence, instead of 20 points, its 20 rupees and for example, when the customer reaches 50 rupees, he gets a reward. Simple but effective.

69% of loyalty-program members are likely to engage in a loyalty program if a mobile app is available!

A Recent study conducted by Nielsen stating that loyalty programs are more effective if it is available on mobile. Digital loyalty-program characteristics or features are particularly appealing in the Asia region. Asia has the highest percentage of loyalty program members when compared to rest of the world. Mobile apps are particularly attractive in India (80%), Thailand (78%) and China (74%). Integration with digital payment systems (78%) and third-party apps that combine loyalty-program information (63%) also are more appealing in the region than globally (67% and 51%, respectively), with India, China, and Thailand the most enthusiastic supporters. COIN’s mobile app benefits retailers as well as customers. It assists the retail owner to keep an eye on every business data accessible from anywhere around the world. Similarly, for customers, COIN mobile APP stimulates loyalty programs and shows latest offers and discount vouchers directly from the retailer...

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