Loyalty Programmes Across The World To Woo Customers

Loyalty programmes are the perfect retention tools for businesses.

- Ayantika Halder

The trend of initiating various consumer loyalty programmes have taken off in a big way. India’s e-commerce industry has witnessed an increased growth in the last few years due to the increase in internet penetration, safe and secure payment modes and due to aggressive marketing strategies adopted by the players. With increased digital penetration, every company is looking to woo their customers for building trust and loyalty. “The importance of loyalty programmes is to establish an emotional connect between the company and the customer. Through our loyalty programmes we try to achieve maximum understanding of the client’s desire beyond tangibles, so as to create brand preference. This helps in boosting sales and acquiring market share,” said Vinaya Varma, CEO, mjunction.

mjunction, India’s largest B2B e-commerce company, has recently launched a mobile loyalty application for JSW Mason. Through this application, the company’s sales can be captured on a real time basis. The data can then be transformed into points which can be redeemed as rewards.

Rahul Akkara, Vice President, Strategy & Brand-JSW Cements, told BE, “mjuntion’s loyalty programme has made a significant difference to our business. We started with 200 channel partners and now we have 8,000 happy members. With this loyalty programme, we are able to analyse their purchase pattern and reward major sales contributors.” Every time a consumer buys JSW cement, they earn reward points which in turn can be exchanged for gifts. There are three levels in this loyalty programme.