Preferences & Privacy – Consumers Have Choices
By · CommentsOne of the central concepts of the GeoHelp Platform is to let consumers control their own preferences. Under the SETTINGS section on the GeoHelp website, there is a page where you are given full control of your location data, your account start page, your language and locale settings, and much more ! Every time you choose to follow a business, you can select if you want communications via mobile, email or web. If you choose “WEB”, this means that all communications comes to your private GeoHelp account and you are never bothered with business messages to your email account or mobile phone !
How Important Is Having a Loyalty Program?
By · CommentsYour business has existed all of these years without a loyalty program, so how important can it be? When we started to research this subject, it became apparent that this might be the “secret sauce” that can optimize all of the work that you have put into quality and service and selection, etc. Forrester Research has done a survey that puts things in perspective…
But some other statistics that jump out when looking into “loyalty” are these…
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6% of cola drinkers account for 60% of sales
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10% of retail bank customers drive 90% of profit
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0.2% of car renters account for 25% of cars rented
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typically, 30% of your customers are responsible for 70%+ of your sales
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companies can boost profit by almost 50% by retaining just 5% more of their customers
So who are these REVENUE CRITICAL customers for your business ? How can they be identified, managed, rewarded and maintained ?
A loyalty program will identify the customers that are critical to your bottom line !