In the increasingly competitive and fierce business space loyalty programs matters a lot to eRetailers, since they have consistently proven to be an effective tool to retain and expand their customer base for last few decades. With the tectonic shift in purchase behavior of the consumers there is a huge spike in the loyalty program revamps amongst the eRetail business owners in the recent time to rethink innovative ways and personalization to their existing loyalty program.
An emerging e-retail brand in US associated with Merkat intellekt to revamp their existing point-based loyalty program that rewards their customer with additional discount on their future purchase after accumulating various reward point slabs.
The expectation of the customer for this revamp is to auto enable the enrolment to the loyalty program for their new customers which was erstwhile a complex process, to build a hybrid loyalty program which would amplify the usage of the eRetail web and mobile application with their users, to easily integrate with affiliate portals and to make the rewards more tangible.
Merkat intellekt in turn combined the technology and customer centric program design to address this broadest spectrum of loyalty program and built a hybrid loyalty program for the eRetailer in mobile and web portal on cloud, the program auto segments the customer into different tiers based on their purchase pattern and the choice of sold items and provides additional rewards based on the transactions at various touch points delivering lot of value to the customer.
The framework also have a built-in approval engine that routes the customer request to the relevant affiliate channel based on the reward type claimed, the requests will be auto validated against the eligibility criterion bot on own and affiliate applications (ERP’s, CRM, etc.,) thereby reducing the turnaround time at checkouts providing the best of ePOS experience possible to all the existing and new customers.
The various benefits of this loyalty program revamp as shared by the customer includes,
- Steady increase in cart value
- Constituted to 6% increase in overall revenue Promotion planning made easy
- Loyalty program enrolment made simplified and hassle free
- Detailed customer insights leading to invigorate pricing and inventory