Analytics for Customer Loyalty in Consumer Goods Industryby Rohan Sinha Author
The industry that manufactures and supply goods of the basic need of our lives is the consumer goods industry. These goods are primary to our day-to-day life and as we know the fluctuation in price rarely influence the demand of such goods. The competition among different FMCG companies has escalated to massive level with increased demand and wide market. With increased competition, the need to use customer loyalty program has also increased. This is one such industry that can reap most benefit out of the loyalty program, as the relation between customer and company is regular and can last for long.
Why does consumer goods industry can benefit our of customer loyalty program?
Here we have listed few important points that make consumer goods industry to extract most benefits out of customer loyalty solution.
- Consistent Purchase: The purchase of consumer goods is not temporary or occasional, these products are in to use by consumers on regular basis. This factor enables the company to play important role in loyalty program and ensure that customers only make purchases from their company.
- Build Trust: The opportunity to build trust with consumers is high in consumer goods industry, as consumers will make purchases consistently.
- Lasting Relationship: The consistent purchase can be stretched to years of relationship. There are numerous companies who have been working for more than decades and they have their loyal customers.
With whirl of technology and its’ pervasiveness across walks of life, it is important to note that we can use the same in strengthening customer loyalty programs.
Data Analytics for Loyalty Program
Data from multiple sources through registrations emails and social media is widely used across different industries by companies to make customer experience better. The loyalty program can be initiated and analyzed using this data to track the results of customer loyalty solution and for niche targeting.
Here find out what you will get with using data analytics for customer retention program:
- Personalized Perks:
Using customer data, company can arrange set of perks which target customers in personalized manner. Unlike conventional method, it does not impose the benefit to customer. Here they get choice to redeem the benefits in the form which is convenient to them.
- Timely Benefits: Benefits can be targeted to customers according to their purchases made and in proper time intervals.
- Analyzing the Effectiveness
Users or customers can respond to the benefits and company can find out if their loyalty program gives worth to customers or not.
Created on Oct 30th 2017 01:29. Viewed 814 times.
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