How can you be sure your business gets more money through its customers? One safe bet would be to keep them happy, but how can you do that? Loblaw has definitely found a way!
The company has managed to build a relationship of trust with its clientele, using its innovative Loyalty program, PC Optimum. This in turn means that their ROI has skyrocketed which is a win—win situation, for sure!
Opting for Customer Experience
Shoppers Optimum and PC Plus were two distinct products, and now they have merged together for the best customer experience. It is important to keep in mind the fact that users want to enjoy friction-free transactions.
When using a single card, Loblaw’s customers are able to get rewards and monetize their points. In this way, they benefit more. What is even more important is that they do so, without much effort.
This is a great challenge for companies all over the world trying to figure out how to withstand the competition. It is all about keeping your customers happy because a happy customer is a paying customer.
Making Use of Artificial Intelligence
AI holds the key to an optimized customer experience. There is a wealth of data scattered around different channels, such as databases, Excel spreadsheets and websites. Artificial Intelligence allows you to gather that valuable information and interpret it to benefit your business.
It is of exceptional importance to relate to your customer base. As a result, you will know what they are looking for as well as what they are avoiding like the plague.
By understanding the customer, you get to make better decisions in real time. You are not walking in the dark with your eyes blindfolded. On the contrary, you have the knowledge to succeed.
Rectifying Pain Points
Along with what a customer wants, AI is able to provide you with the weaknesses your business presents. Is the customer journey pleasurable, swift, and efficient or is it a minefield, ready to explode?
All the pain points in the customer experience, no matter how small, prevent your revenue from improving in the long run. Who would pick the same journey if it were filled with bumps along the way?
Innovation & Technology
Innovation analytics is a valuable tool in the hands of business leaders who wish to establish their position in the corporate arena. By using sophisticated technology, they benefit customers and ROI alike.
Customer satisfaction is such a fundamental asset determining the future of businesses all over the world. Building loyalty requires a sense of deeper understanding on behalf of businesses.
“What does a client ultimately want?” is what drives innovation, bringing new solutions to the table and ensuring the optimal user satisfaction.
Thinking Outside the Box
It is essential that you visualize the perfect customer journey. Next, you should commit to making this journey part of your business. This is the best way for you to boost loyalty levels even beyond your wildest dreams.
There are obviously several tools you can use, technologically speaking. Customer service chatbots and virtual assistants as well as social media credentials for subscription and automatic procedures will definitely give you a strong leverage over others.
Are these elements enough, though? Be a part of the buying process. Get in the shoes of your targeted audience. What would you have wanted to see?
Pay Attention to Each Individual
Personalization of the customer experience is what separates winners from losers in the market. I am guessing you want to be part of the former, keeping the latter at bay. In order to achieve that, you need to focus on each individual.
Take a moment and think about Netflix. As soon as you log in, there are tons of movies and series presented to you. The first ones that you see titles for will be based on your personal preferences.
How does that make you feel? I am sure it makes you feel good, noticed, important. At least it adds value to the customer service. This is where you need to invest.
How Does That Even Work?
It doesn’t take a rocket scientist to figure out that resources are limited for most of us. No one can expect a small or medium-sized business to spend large amounts of money in customer service.
Through intelligent AI based tools, however, you do not have to do that. In fact, you get the result you want for a fraction of the cost. Plus, your customers are happy to find 24/7 support.
Challenges Lie Ahead
It makes sense that a new innovative field such as AI involves quite a few challenges. Businesses need to tackle these issues, so as to make the most of their endeavors.
Privacy is one of the major things to consider when putting Business Analytics into the mix. Customers must be aware of what they share with your company at all times and give their consent.
The Example of Loblaw
Loblaw’s Loyalty program was able to offer customers ease and convenience along with an elevated sense of personalization. They feel that their loyalty is being appreciated, bringing value to their decisions.
This is a huge accomplishment, as clients respect the efforts of the company towards optimizing their customer journey.
Final Thoughts
Increasing your ROI is the ultimate business goal. Loblaw has managed to achieve that, through the use of its innovative Loyalty program PC Optimum. Happy customers appreciate the company’s initiative and reward it by using the product even more frequently.
Analytics will show you the way, enabling you to create the basis on which your business gets to thrive. Embark on the perfect customer journey and enjoy what the future holds for you!
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