Exploring the Significance of Loyalty Programs

The success of any business is majorly defined by its customers. More of which is characterized by winning the loyalty of the customers. On one hand where acquiring the new customers are important, retaining the existing the ones also holds the same degree of significance.

This is where customer loyalty solutions come into play.


If you are among those who still haven’t recognized the importance of the unlimited potential these programs hold for the success of your business, then it is high time to shift your gears towards loyalty programs:

Prevents Customer defection
There are some statistics that you might want to take a look at:

• Around 47% customers would switch the brand within one day because of a poor customer service 
• According to a study, 49% consumers would happily switch to other brands if they are provided with a coupon 
• 80% of the customers who switch feel that the company should have done something to retain them
  

Here loyalty programs play an immensely important role by providing relevant offerings to the users so that they don’t make a ‘switch’ from your brand.

Encourages Higher Purchases

 
As you tend to provide incentives to the customers that increases with the purchases they make, you not only retain them but also encourages then to make bigger purchases as the incentives simultaneously increases with the size of the purchase. That’s how you get access to a larger share of your customer’s pocket.

Makes Your Customers Feel Valued

Happy customers are those who feel that they are being valued by the brand. Loyalty programs here play a crucial role in this regard. In turn, your customers when valued often share their joy with Word-of-mouth that will ultimately pave way for your benefit.

All the above benefits are just a drop in an ocean. So, go get your Loyalty solutions implemented to watch your business escalate to another level.

Clavax Technologies LLC is an IT solutions provider based in San Jose, California. The company specializes in providing various solutions such as Loyalty programs, CMS integration, Big Data Analytics Solutions and much more.