Increasing market share is a primary goal of every business. The more customers shop with them, the more likely sales and profits will increase. Consumers, however, have many choices as to whom they purchase from, how they purchase (e.g: Internet, catalog, retail store etc), and where they purchase goods. Differentiating themselves from the competition is necessary for businesses to become and remain foremost in their customers’ minds. Over the past few years, smaller, independent businesses have begun to develop and implement ‘customer loyalty programs’ as a means to increase their customer base. This promotional tool can be used regardless of the type of business. Frankly speaking, from farmers who produce and sell cheese, wine, breads, plants, or who offer services can develop and implement loyalty programs. Even affinity-based communities are using the principles of loyalty programs to achieve their objectives. Customers who enrol in the program, and who are ‘loyal,’ in the form of repeat purchases, receive benefits (coupons, discounts, or invitations to special sales or events) as a thank you for their patronage.
In the age of the customer, it’s more important than ever to engage effectively with customers — how, when, and where they desire. Customers understand the basic function of loyalty programs and rewards redemption, as they most likely belong to another program already. Hence loyalty programs are valuable, but if created well. A loyalty program can be created around any number of principles and customer benefits. In recent years, we’ve seen a number of new loyalty programs announced or revamped by major brands. Data is at the centre of all of these challenges. Organizations who want to manage these large and growing data repositories face many challenges. Unparalleled access to that data drives deep insight into customers’ experience. Finding an efficient and cost-effective way to keep enough detailed customer records online and available so that you can retain profitable customers is a business imperative. Those that improve the bottom line do an effective job of tracking, monitoring and analyzing performance in near real time can give big results.
Strategies that rely purely on loyalty programs that offer points and discounts miss an opportunity to drive deeper engagement through emotional loyalty. One critical foundational component that is often lacking from traditional loyalty programs is intelligence. Intelligence allows companies to take the customer insight and predictive modelling of traditional loyalty programs to the next level. To analyse customer insights, platforms help firms evolve their approach to customer loyalty to drive retention, engagement, and advocacy.
Chippp is a platform that enables merchants to set up promotions and manage loyalty schemes for their customers with ease. They provide merchant with their infrastructure which includes an account on their cloud platform chippp.com, an NFC reader and a number of NFC chips to distribute to their customers.
This “chippp” enables the customer to check out of any merchants that have “Chippp” integrated, and gain points based on how much they have spent across the businesses. The customer has an option of picking up the chip as a card, a key holder or a waterproof sticker that they can stick behind their phones. They can also sign up for a consumer account and track their spending and see offers around them!
A merchant will only needs 100 dollars and 20 minutes to set up our system and start recording sales by tap-and-go. There are premium accounts levels to unlock access to SMS engagement, social media integration, POS integration, better analytics, business intelligence!
Team eXi wishes them success in their journey.
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