It costs 5 times more to acquire a new customer than retain one! What is your acquisition cost? Do you have the information to know who is and who is not a loyal customer?
Customer Relationship Management (CRM) and loyalty programs are all about information. The challenge is to collect information about your customers efficiently across all sales channels and to be able to analyze and segment the information. If you don’t have the systems and processes in place, then any investment in loyalty schemes and/or targeted promotions can misfire, leaving you with a lower than expected ROI. The challenge is to utilise your CRM system effectively to drive incremental revenue and profitability.
CRM and loyalty programs often need to be cross-channel, which presents opportunities and challenges. The challenges are to ensure that at each customer touch point (store, web, catalog, phone) the right information is collected. Yourcegid Retail gives you the opportunity to target customers in multiple ways across multiple channels. Designed with retail in mind, the CRM database gives you a complete view of customer preferences, transactions and behaviors - no matter how they interact with you.
Yourcegid Retail provides retailers with the ability to make customers feel unique and special, and therefore foster loyalty and drive profitability. The CRM loyalty solution and integrated database allows retailers to manage the customer relationship and loyalty scheme process, driving highly targeted promotional activity. This can be achieved in store at the point of sale, and via other communication tools such as emails, flyers, vouchers, sales and receipts.
The bottom line benefits of Yourcegid Retail CRM and loyalty solutions include…
- Transformation of the customer experience
- Enhanced customer loyalty and retention to increase profits
- More effective promotions and loyalty programs
- Lower costs to acquire new customers
- Better forecasting and budgeting of sales for segmented customers
- Increase up sell and cross sell opportunities
- Create more effective marketing campaigns based on past history and known preferences.
- Management of customer files: search by multiple criteria, grouping by type of client (individuals, companies etc)
- Gathering information at the point of sale
- Managing customer segmentations and groupings
- Defining loyalty programs
- Sales history, key indicators, analysis of purchasing behavior
- Management of loyalty cards including re-writable cards
- Management promotions, customer rebates etc
- Gift lists for weddings, birthdays etc.
- Customer services at the point of sale: alterations, repairs, subscriptions etc.