Did you know that it costs nearly five times as much to acquire a new customer versus retaining an existing one? Today’s competitive marketplace makes it imperative that businesses focus on building loyal relationships with existing customers. With the advent of the digital era, the new-age consumers are more aware and more demanding. The information overload has dramatically altered the shopping patterns of modern consumers, from their preferences to their purchasing decisions.
The Challenge: Retails Loyalty Pain Points
Consumer loyalty is constantly shifting in the face of umpteen options and it is becoming increasingly difficult to serve the changing needs of modern day customers. To stay ahead of the curve and effectively build long-term customer relationships, the retail segment needs loyalty solutions that are as dynamic as the modern-day customers.
The industry faces some key challenges:
Understanding how their existing customer base has evolved
What drives their present-day retail behavior and shopping preferences?
How does one standout from the visual and information avalanche to deliver messaging and products that connect and engage with the customer, both old and new?
The Solution: Engage 365, a dynamic loyalty solution for new-age consumers
The solution is a loyalty program hinged on data-driven personalization and engagement to deliver marketing benefits.
Engage 365 is a loyalty solution built on Microsoft Dynamics 365 that can significantly enhance an organization’s customer engagement program. Through integrated modules for Sales, Marketing and Services, the dynamic and adaptive solution brings a whole new level of personalization to the shopping journey, helping foster customer loyalty.
TOP BENEFITS: Why Engage 365 is your go-to solution for consumer retention?
Engage 365 enables retailers to harness the power of data analytics to drive social engagement, improve in-store customer experiences and fuel long-term loyalty initiatives through tools like gamification and points. Furthermore, a flexible and customizable dashboard provides users instant and easy access to reports and insights on consumer behavior.
The top benefits for retailers include:
• Collection and analysis of consumer behavior data and pain points through multiple channels – sales, social monitoring and in-store
• Data-driven personalization and enhancement of the complete customer experience
• Higher consumer engagement through market segmentation & niche product marketing
• Ease of access to reports through dashboard functionality
What sets Engage 365 apart: USP’s and features
Loyalty programs have come a long way since their evolution. A rapidly changing consumer has meant the traditional programs of rewards-for-spends have become less effective over time. Loyalty is still about developing a personal relationship between the shopper and the merchant. However, the way the shopper interacts with the merchant has evolved and diversified into multiple channels. Additionally, with emerging trends like the Centennials or Digital Natives (Gen Z) as they are called, technology is now necessary to track the customer journey across various touch-points and accordingly drive emotions, engagement and brand experience.
Guided by these changing trends and needs,Engage 365 has overhauled legacy loyalty programs to create one that is flexible, identifies and engages with old and emerging market segments, enhances retention and delivers ROI.
The standout features of the Engage 365 solution are:
i. Customer Profile, Analytics and Reports
Get a 360-degree customer view, from tracking by order size, to history of channel interactions.
ii. Personalized Campaigns
Bespoke email and SMS campaigns based on customer profile.
iii. Social Engagement and Social Listening
Building and analyzing social media dialogue with existing and potential customers through social centers and intuitive dashboards while also monitoring trends by listening to “customer-talk” on social channels.
iv. Gamification and Point Engagement
Drive customer engagement and retention through a mobile app and personalized customer portal for redeeming virtual vouchers at PoS using integration with Dynamics 365.
v. Customer Award Management
Points, Tiers and Awards.
vi. Beacon Interface
Bluetooth enabled beacon interface that allows sending personalized offers and recommendations to the mobile app when customers walk past beacon sensors with their mobile devices turned on.
vii. Customer Support and Service Management
Effectively manage the customer service process from using existing knowledge base to guide query resolution and empower customers through a Customer Self-Service Portal.
viii. Voice of the Customer
Surveys to gain valuable customer feedback to guide targeted marketing in the future.