Customers: The Last Word

 

Customers play a vital role in the rise or fall of a business venture. The customer experience offered by a retail venture is what sets successful businesses apart from the rest. Studies reveal that it costs businesses about 6-7 times more to acquire a new consumer as compared to retaining an existing consumer. Additionally, companies that prioritize consumer experiences reportedly register 60% more in profits. The consumer does get to have the last word! Why do we say so? This is because a company’s 20 percent loyal consumers are responsible for being the contributors to 80% of the company’s revenues.

At the turn of the decade, as the world witnessed the emergence of smartphones and with more than 6 billion units sold today, retail enterprises have the task of retaining their existing consumers while they acquire new ones. The customer loyalty solutions are the result of a highly novel and intelligent marketing strategy adopted by the business enterprises to connect more with their customers.

Furthermore, the availability of these programs as cards, coupons or redeemable points on their mobile devices makes the option of utilizing them a lot easier. However, the types of consumers, demographics and services or products are to be carefully determined before creating a loyalty program.

Clavax Technologies offers both ready-to-use and customizable customer loyalty solutions that fully comply with their clients business processes as well as requirements. Moreover, being an iPhone app development company, the company has a powerful portfolio of developing a multitude of mobile loyalty programs for their clients. The customer loyalty solutions are not just another form of engaging consumers to drive traffic or sales for a retail enterprise; they are a way to connect to and know their customers.