The Key Benefits of Deploying a Customer Loyalty Program in Small Business

CRM | by Patricia Jones

With the growth of easy to use CRM software platforms, customer loyalty programs have been entrusted with a new recognition in recent years for many reasons.
Primarily, customer loyalty programs have gained so much prominence as they have become an expected part of customer experience with any brand that is looking for stellar business growth.
In 2008, only 12% of businesses used cloud-based CRM. This figure has now increased to 87% - SuperOffice Click To TweetNevertheless, in today’s competitive marketplace, simply implementing a traditional customer loyalty program for the consumers of its brand is not enough.
In fact, in a recent survey conducted by a global research and advisory firm providing advice, insights, and tools for leaders in IT, customer service and support, finance, HR, marketing, legal and compliance, sales, and supply chain functions across the world, it has been found that more than 42 percent of Millennial(s) in American will stop buying from a brand that they had been loyal to after just two bad customer experiences.
Therefore to boost the productivity of loyalty program’s ROI and consumer retention in an overall manner, companies have taken to expanding their loyalty rewards to incorporate behavioral and social actions, like referral points and referral rewards for user-generated contents, while also trying to provide their customers with some more personalized experience using easy to use CRM software solutions for harnessing growth.
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