As companies constantly push to attain maximum sales, they implement new marketing strategies which are aimed at directly capturing the nerve of the consumers. Over the years marketing experts have been innovating and implementing new strategies to get new customers and retain the current ones.
Among the many alluring marketing concepts, loyalty management or reward management has shown effective results across different industries. In his book ‘The Loyalty Effect’ Frederick Reichheld says, “The greater the loyalty a company engenders among its customers, employees, suppliers, and shareholders, the greater the profits it reaps.”
What is loyalty management?
In simple words, loyalty management involves a set of activities for better serving its customers. It helps companies to acquire, engage and retain their customers. Moreover, the process also helps in better understanding of the relationship between the customers and the company’s business.
Loyalty management aims to fairly reward people by making and implementing strategies and policies that can act rightfully and consistently in accordance with their value to the company.
What’s behind an ideal loyalty management strategy?
A loyalty strategy should be formulated in such a way that it clearly defines the reward elements and the customer knows what they should expect to receive and why. Loyalty management is not just a way to reward loyal customers but, also helps in increasing sales drastically and generate profits.
Holostik’s loyalty management system
Holostik provides a unique code printed on a smart holographic label/ smart hologram to its clients by which they can effectively monitor their reward management systems. It will not just keep track of all the loyal customers and rewards to be given but will lead to increased customer satisfaction and fair distribution of rewards.
- The products are secured with a smart holographic label/smart hologram printed with a unique QR code.
- On purchasing the product, the consumer authenticates the product by scanning the QR code.
- On authentication, the user gets alerts for various rewards and other important notifications.
- The database is updated regularly, and the customer gets regular updates pertaining to rewards.