Verticals like Retail and Telecom industries have long struggled with the problem of customer attrition. “Churn” as it is called often, not only leads to loss of revenue but it also means increase marketing spent to retain market share. Enterprise look at their CRM application to help control (if not eliminate this problem). Loyalty management is a classic example of feature set that can be customized and added upon to CRM solution can provide to help address the business scenario.
SugarCRM by default doesn’t provide any feature out of the box for managing customer loyalty. Veon provides a solution to help address this gap.
Details | Customer Loyalty Management on SugarCRM
The following section details out the features of customer loyalty management system by us. They run the solution by first defining the set up required followed by how the accruals can be governed by the rules which are set up by the administration.
Master Set Up
Before you can start with your loyalty program, you need to store and set up the master data of your organizational and Loyalty program rule set-up.
Defining your Stores
If you have a retail set-up you may want to set-up the details in SugarCRM so that later if you require, you can set up different customer loyalty calculation rules and also derive reports accordingly. One point requiring attention is that you may want to also include your web-store.
Defining the Loyalty Calculation Rules
You may want to define the rules on how you would reward customers. Usually these rules are slab based on sales value. You may want to define different loyalty rules for different stores. This is especially true for a Retail House which has multiple chains or brands at varying margin levels but would want to have a combined loyalty program.
Getting Transaction Data in CRM
Sales are done in Point of Sales System at individual retail stores and the sales data then flows to Customer relationship management software via interface. SugarCRM then calculates the loyalty points based on the Sales data and rules set up in the system.
The contribution to loyalty points is accordingly calculated and reflected in the contacts module which can be searched by the customer loyalty number, email id or name. Other options like mobile number can also be included.
Loyalty Points Redemption
The loyalty points can be redeemed either in POS or directly in SugarCRM. The redemption is also treated as a POS transaction and automatically adjusts the loyalty points accrued.
Benefits of the solution
The solution has many positives. Some of them have been highlighted below
a. Reduce if not eliminate customer attrition
b. Easy integration with POS systems
c. Flexibility in defining loyalty accrual rules
d. Capturing of customer redemption
Implementing the customer loyalty program in your SugarCRM instance can greatly enhance and complement the existing features of Email Campaign and help improve your interaction with the retail customers. Instead of having a nameless faceless customer, the solution helps you to gain access into social and human aspects of customer engagement, something which has become a critical success factor for all the industry verticals.
About Us – Veon is a leading SugarCRM Consulting firm serving its global customer base spread across verticals. Its technical expertise along with business understanding positions it uniquely as thought leader in the CRM consulting space.