But, as we all know, relationships are NOT a commodity. And never will be. I know a lot of people that would help me out if I begged them to and just a handful that would come to my rescue before I even opened my mouth. They are the ones that have got my back. It’s the STRENGTH of the relationships that I have, not the NUMBER.
This is true for loyalty programs in India. Most of the times CRM is content with number of customers enrolled in loyalty programs instead of the amount of business customers (number of visits, bill value etc) are doing with the organization.
Enrolling new members are like building an asset but CRM should try to maximize returns on this asset. To maximize this effort, a solid retention strategy is required. This can be achieved by:
Enrolling new members are like building an asset but CRM should try to maximize returns on this asset. To maximize this effort, a solid retention strategy is required. This can be achieved by:
- Tracking amount of business customer is doing with the organization
- Designing specific promotions based on customer's purchase history. Tesco never send same membership statement to three customers
- Giving discounts on products and service that matters to customer
- Remembering them on their birthdays and anniversary
- Sending handwritten thank you note (once in a while will not hurt).
With the availability of technology this is not difficult, however customer needs to be at the center of whole CRM strategy. Is that difficult to do?
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