REWARD{IT}
Loyalty Program for Consumer Goods Brands
Challenge
Loyal customers represent about 25% of all customers, yet they contribute about 50% of revenues. Executing a well-defined loyalty program should be a top agenda item for marketers. Given the strategic nature of loyalty marketing, coupled with the exceptionally high ROI that it generates, it no wonder that any brand that can offer loyalty program, tends to offers one. Think Flybuys, Amazon prime, Hotel and airline miles, Credit card points, and so on. While the service industry has really upped its game by running advanced loyalty programs, consumer product brands don't seem to have a particular affinity to execute the same. Or do they?
Background
Unfortunately, most consumer product brands have limited means to reward customers for their loyalty. It has been really challenging for consumer brands to know their customers on an individual level, understand their buying behaviour, derive customer's relative position on the customer value curve, and so on. As a result, it is next to impossible for most brands to reward their individual customers based on the value they bring. Consequently, not having access to the right technology is the real reason why most consumer product brands are unable to run advanced loyalty programs.
Solution
Rewardit is a mechanism for consumer brands to break this barrier. It enables consumer brands to have a meaningful loyalty program for the consumers and reward them for each purchase. Rewardit is a sure shot way to ensure continued patronage & enhanced loyalty of your customers.