Customer loyalty is paramount to the success of any business; as loyal customers spend more and can quickly become brand advocates - facilitating the acquisition of new customers through word of mouth; which can generate up to over twice the sales of paid advertising.
Gaining loyal customers is no easy task for any business, most especially businesses in highly competitive markets; consumers have numerous product options to choose from, mainly due to the fact that there are no strong barriers to entry or exit in this market. Businesses in these markets need to consider what extra benefits the consumers can derive from their products, they need to devise strategies to make their products more attractive to the consumers, and one of such approach is a customer loyalty program.
Loyalty programs are structured marketing strategies to encourage more purchases from customers. They can be targeted at attracting new customers or encouraging more frequent purchases from existing customers. Loyalty programs are said to be a more cost-effective way to acquire new customers as well as keep existing customers if implemented successfully.
The benefits of loyalty programs far outweigh the cost for those not sure about the value of implementing one. It is far more effective than branded content and advertising if done right. One of our clients – Corporate Focus, recorded over 600% increase in sales through our customer loyalty program; which was achieved within three months. This program rewarded customers for their purchases, encouraging them to buy more. Sproxil’s loyalty program attracted not just the client’s existing customers but also new customers were acquired.
About Sproxil's Loyalty Program
Sproxil Champion™ is a flexible point-of-sale consumer rewards solution with built-in fraud protection that empowers brands to offer consumers convenient opportunities to earn and redeem gratifying rewards from the brands they desire. Sproxil provides globally-unique codes for each product unit made by the manufacturer. Each code is covered with a tamper-evident layer for additional security. A consumer at the point of sale scratches or peels off the tamper-evident layer to reveal the unique code. To verify if a product is genuine and become eligible for a reward, the consumer sends the unique code to Sproxil using one of several options all accessible by mobile phone. A response is immediately sent to the consumer logged in Sproxil’s online portal, allowing brands to monitor marketing spends and flag suspicious activity patterns and determine return on investment in real time. Sproxil Champion is also available as a bespoke solution for distributors to help brands ensure distributors receive genuine products and earn rewards for their trust.
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