Loyalty plays a fundamental role in the development of a business. According to Harvard Business School, increasing your organization’s retention rate by 5% increases profits by 25% to 95%. For this reason it is essential to set up an effective loyalty system. To achieve this, you need to have data on your customers to offer them tailored offers and build them a personalized experience. Herein lies the FourSeeds challenge. It is a platform created by the Meteors data agency. The company developed this suite of features, which helps build loyalty and anticipate customer journeys using data and artificial intelligence.
Easily manage your loyalty program
Creating an effective loyalty program is essential for brands looking to increase the frequency of their customers’ purchases or increase inbound traffic to the website. This also makes it possible to respond to profitability problems, since retaining a customer costs from 5 to 25 times less than hiring a new one (Loyalty Observatory).
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To retain a consumer, however, it is necessary to strengthen his relationship with a company and provide him with an enriching experience, which digital technology can help. When registering for a loyalty program, customers provide relevant data, such as telephone number, date of birth, etc.
FourSeeds allows you to filter this information and segment it. In concrete terms, this gives the possibility to carry out marketing actions aimed at a group of customers who have common criteria. The platform allows you to activate rules and award points or rewards based on customer actions, their purchases, their reactions to communications or their behavior. The loyalty strategy must be adapted based on these elements, in particular thanks to FourSeeds. It provides customer information so companies can change their offers in real time. It should be noted that the data are processed in compliance with the GDPR.
Clean, unified data for more results
Having a good understanding of your customers to better target them and improve their shopping experience, however, requires up-to-date and clean data. Otherwise, the entire loyalty strategy can become unbalanced. Unnecessary costs may be incurred even if communications are sent to addresses that do not exist.
To avoid these kinds of consequences, FourSeeds has a data quality management (DQM) tool. In concrete terms, it is possible to clean your database directly on the platform and delete incomplete email addresses or telephone numbers in a few clicks. You can add additional settings, such as deleting duplicate contacts.
The challenge remains, however, to keep this data reliable and up-to-date. For many companies, this is a complex and time-consuming process. However, according to FourSeeds, neglecting the quality of its data can cost 15 to 25 percent of a company’s revenue. To facilitate this process, the platform takes care of the management of the DQM. Complete any customer information that would have changed, such as phone number. For a brand it is the certainty of always contacting the right person and avoiding unnecessary additional costs.
In an omnichannel environment, it is essential for businesses to have complete visibility into the customer journey to better understand what drove them to purchase and which channels and communications contributed to it. This lets you know the appropriate actions to take during future interactions. This is why it is essential to have unified data, that is, not isolated from silos. FourSeeds gives you the ability to create a Unique Client Repository (UCR), which allows you to have all information relating to a client in one place. With all the elements at hand, it becomes easier to make strategic decisions.
Respond to customization challenges
In a context of increased competition, personalizing the user experience can make a difference with customers. The collected data are then useful to know one’s needs, and therefore to differentiate oneself. FourSeeds accurately provides all the data you need to get to know your customers and send them the right message at the right time or activate marketing triggers. This can be based on several factors, such as cart abandonment or the anniversary date. For consumers, a brand that personalizes their actions makes them feel valued. This can increase the frequency of purchase. An important element, when we know that 86% of shoppers are willing to pay more for a good customer experience, according to statistics provided by the Codeur website.
Once your loyalty strategy is well defined, it is essential to monitor its performance and analyze its impact in order to make the necessary improvements to optimize its ROI (Return On Investment). The FourSeeds multi-channel dashboard gives you the ability to keep an eye on each project by viewing the profitability of each action.
The platform is therefore an important ally to improve the experience of its customers and retain them. Big names like Photomaton, Clarins and Maison Kitsuné have already been conquered by FourSeeds.