WHEN IS THE RIGHT TIME FOR A LOYALTY PROGRAM?

The holiday season is round the corner and you are deliberating if its the right time to launch a loyalty program to boost your sales. Should you just wait for the next holiday season or should you launch it now in preparation for the next occasion?

In this blog post, we’ll discuss on the most important topic on whether a loyalty program is suitable for your business. Loyalty programs aren’t for all business especially if your customer base isn’t big enough. But a loyalty program is most suitable for you if your business is strategized to achieve the below intentions.

  1. FOSTERING CUSTOMER LOYALTY TO ACHIEVE HIGHER SALES GROWTH

There has been studies proving that in comparison to new customer, loyal customers spends 10x more and they are 5x more likely to purchase (RJMetrics).

Times have changed where acquiring new customers is no longer the best solution to boost your business. Stats have shown that it will cost retailers 7x more than retaining a loyal customer.

  1. STAND OUT FROM YOUR COMPETITORS BY PROVIDING EXPERIENTIAL EXPERIENCE

Times different now, people are no longer believing that retail is dead, but it’s actually the means to an end. Customers are looking for special care, acknowledgement and recognition, in short customers are seeking guidance from retailers.

 

A well tailored loyalty program can work wonders for a business, acting as the missing piece to achieve success, providing the extra charm and attentiveness towards customers. Basing on a study form Nielsen: 72% of customers would buy from a retailer with a loyalty program over one without. Ever wondered why? A retailer with a loyalty program always have something sweeter prepared for their customer, something more personalized and valuable.

  1. HOW MUCH MORE CAN YOU DO TO STAND OUT TO BE A LEADER IN CONSUMER LOYALTY

Nielsen studies has forecasted that by 2021, the demand for loyalty program will increase by 300% especially in the retail sector, and this was a studies conducted in 2016. Even though basing on a 2016 stats, but unfortunately the facts is that most of these loyalty programs are based off the old school methods – the same old plastic card! To make things worse, customers are forced to fill up excessively lengthy membership forms.  

But the simple fact is that customers are looking for loyalty programs which are flexible and convenient to use for both online and offline strategies. This in return will define the success of a loyalty program. For those of us who has been to Starbucks will definitely agree that they are a real role-model in the loyalty program trend.

On a slightly different note, Nielsen’s study has indicated that 67% of retail customers prefers if a loyalty program is combined with a mobile payment platform. A total of 62% of them appreciated if they could collect point for being active in social activities related to the retail brand.

Now, on to one of the main reason for this article. How do you know when is the right time for you to launch your loyalty program? Before even thinking of subscribing to a loyalty program, below are some of the possible goals your business need to achieve, and what can influence the exact launch date of your loyalty program.

  1. PLANNING IT AROUND A SPECIAL EVENT OR OCCASION

There is no one in this world who doesn’t like to be delighted or even surprised, imagine implementing this with a loyalty program. Exploit special occasions, launch your campaigns around an occasion to leverage on the anticipations. Launch them for occasions such is:

  • Store Anniversary
  • Hari Raya
  • Deepavali
  • Chinese New Year
  • New Years
  • Christmas
  • Black Friday
  • Alibaba’s Singles Day @ 11.11
  • Back to School Campaigns
  • And more…

But keeping all the hype aside, you should never forget the your business need to be prepared and ready for two primary hurdles.

  • Ensure that the loyalty program of your choice is seamlessly and also technically integrated with all your current operational systems
  • Prepare a complete marketing strategy to promote your newly adopted loyalty program
  1. COMBINING TECHNOLOGIES

According to a report from eMarketer, 65% of shoppers expects personalized offers and promotions from retailers. This is one the the main reason to why retail brands adopt loyalty programs into their existing retail technologies as loyalty programs helps them enhance customer personalization. Moving towards the up and coming retail technology, loyalty programs are starting to see integration with proximity marketing such as Apples iBeacon and Goodles Eddystone Bluetooth Light Energy (BLE) technology. With this technology the above mentioned stats can easily be mitigated.

As a conclusion, deciding on the right time to adopt a loyalty program has two sides. First, is to ensure that your business direction and vision is consistent even after the implementation of a loyalty program. As a retail brand, you must always question the objective of implementing a loyalty program, and do you aim for objectives that modern, gamified loyalty programs achieves? For example:

  • Customer retention is more important than customer acquisition
  • Competition through experience-based differentiation and not through a price war against your competitions
  • Implementing new technologies to enhance in-store automated personalization, and hassle free retail experience

Once you are able to achieve all the objectives, you are then ready to launch your very own loyalty program. But please do not forget that a successful program launch also requires the following:

  • Flawless integration with current in-store retail technologies
  • A well planned marketing strategy to promote your loyalty programs to your customers

2 Reasons Why Bluetooth Isn’t Killing Your Battery

It’s almost end of the world when a pop-up telling you to connect your phone to a power source, or even worse the “fairly” reminder that you have only 20% battery left.

We’ve all been there, and right after cursing and ranting, we’re prompted to salvage what’s left of our almost-flat battery. Which app can I close? Reducing my phone brightness? Switching off data plan?

You may even heard that turning off your phone bluetooth is a surewin way to conserve the last bit of that battery juice. Or, that you should just switch off altogether in the first place. Guilty as charged, but as it turns out that bluetooth has been wrongly accused of one serious crime: being a serial battery killer.

 

So here we are today to prove the myth wrong, we did our research and here is 2 good reasons why leaving your Bluetooth on all day will not kill your battery.

1. BLUETOOTH “LOW-ENERGY” MEANS JUST THAT

In our everyday lives, technology has been pretty much shifting from one point to another, even Bluetooth has evolved as our mobile devices have. Our smart phone, tablets, laptops, and wearables natively support latest version of Bluetooth, commonly referred to as Bluetooth 4.0 / Bluetooth SMART®  / Bluetooth Low Energy (BLE).  They basically means that this technology allows us to wireless sync with our phone/tablet/laptop for convenience purpose (Example: keyboard, mouse, thermostat).

It was developed to send small bits of data at a time between2 devices (Example: your iPhone & Fitbit) while using a more energy-efficient approach. Thus, BLE isn’t is not gonna kill your precious battery.

 

(2) THE ADVANTAGES VS DISADVANTAGES

The advantages yielded from Classic Bluetooth span from enabling driver’s phone going hands-free to practice safe driving and enjoying wireless experience with speakers. Now with the advent of BLE, in how it provides your mobile a new way to communicate with other devices, like retailers’ beacons, smart watches, etc.

These advantages can provide value to consumer include never missing a promotion at the supermarket, tracking daily steps and miles, or remotely changing the song playing via your handy dandy smartwatch.

Thus, leaving Bluetooth on or discoverable mode does not typically qualify as a “Serial battery killer” all on its own. Everyday life can be much easier by having our bluetooth turned on so it can detect & communicate with other BLE-enabled devices.(Example: beacons) uses little to no juice at all.