26 June 2014 • Raconteur
The retail landscape is a tough environment and retailers need to do all they can to stand out from the competition, says i-movo.
Loyalty schemes are a very effective way of helping retailers distinguish their offering and generate repeat business, as well as gaining important information about customers.
Any retailer hoping to be around in five years’ time will need to have some form of scheme in place, but the traditional loyalty scheme – based around costly plastic cards and paper correspondence – is not the answer, warns David Tymm, chief executive of i-movo.
Instead, retailers looking to develop a compelling loyalty proposition need to embrace mobile, using customers’ phones to send and redeem vouchers, and verify transactions are genuine. “You can virtualise the loyalty scheme by removing the single most costly element of it, which is the production and distribution of cards and the use of paper as the way of communicating with members,” says Mr Tymm.
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