Notesale: Turn your study into money

Document Preview

Extracts from the notes are below, to see the PDF you'll receive please use the links above

---

CUSTOMER RELATIONS MANAGEMENT
ASSIGNMENT # 4
Loyalty programs are a way of retailers to encourage the continued patronage of
customers
...

Unfortunately many companies neglect it or are just using it at a low level yet it is
the core element that rely the customer and the retailers
...

Now the question that arise is what could retailers do to retain customers in their
terms of loyalty programs? Here are the different suggestions we have found while
trying to solve the question
...
Traditionally loyalty program are seen by
customers as a way to ambush them or as a punishment since they don’t really
understand what is going on
...
Firstly, the
customer has an introduction and get a reward for enrolling the program
...
Then the last step of the
connection occurs with customer or retailer initiated feedback loops
...
Getting to know the customer is a very crucial step
for the retailer in order to better serve the customer and increase satisfaction and
thus profit
...

Most loyalty programs are failing not because their programs are not good but
because their not executed correctly and along customer needs and wants
...
There is no true
experience between the retailer and the customer yet retailers should go beyond the
simple transaction in order to increase customer loyalty and in fact understand the
intentions of the customer
...
Nordstrom for instance is a
great example of retailer who understand it
...

Also, Nordstorm has another tool for their customer named Fashion Rewards in
which the customer can get access to perks such as concierge service and free
alterations
...
For instance locationbased information can help the retailer to help and communicate with the customers
more efficiently
...
Loyalty programs and the
insight and the communications capabilities can help retailers achieve greatness in
term of loyalty programs

---