Fostering Customer loyalty in the Digital Age
Most loyalty programs fail to achieve the goal of sustainable customer engagement and loyalty. This post explains why and offers some guidance for CxOs to assess and advance customer loyalty strategies and technologies in
light of digital business advancements.
The basis of loyalty is trust and yet few retailers have been able to capture and advance customer trust by implementing a loyalty program. The main reason customers join the programs is to receive offers. However, the rewards often hinge on various conditions. This is primarily because of several factors including inconsistent execution on the basic in-store shopping expectations.
Retail CxOs seeking to drive loyalty through customer-centric merchandising and marketing technologies should:
- Identify and resolve barriers to obtaining consistent customer profile information across the
organization by working with multi-channel business leaders.
- Evaluate loyalty CRM technology in light of organizational objectives for improving the customer
experience via the customer basics.
- Provide the business with loyalty metrics, such as offer use, and combine with in-store metrics,
such as stock availability, to improve analysis and drive increased conversion.
- Form a cross-functional team to collaborate on the development and analysis of loyalty metrics.
At Accel NA, We have a dedicated powerhouse serving the retail division.