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5 Ways To Maximize Profitability OfHigh-Value Customers
Customers willing to pay a premium are not just paying for the products they purchase, but also for the overall brand experience across multiple channels. What are High-Value Customers? Brands have to innovate at every interaction and provide more value in every purchase. A high-value customer isn’t driven to purchase by discounts, and wise retailers know not to rely solely on discounts, but relevant personalized offers for this segment. What do they expect? What influences their behavior?
1. Consistent customer engagement across all channels leads to improved purchase experiences
2. High-value customers need high-value services. “Brands have to innovate at every point of interaction and provide more value in every purchase.”
3. Top customers require an efficient loyalty & rewards program
4. Focus on increasing customer lifetime value not average basket size. Leverage data analytics to understand specific buying behavior and purchase preferences.
5. Clienteling: In person, personalized engagement. Loyal customers deserve personalized communication: Mass emails, auto-generated emails, and general SMS communications are strongly discouraged.
Capillary Technologies is a leading provider of cloud-based software solutions that enable retail marketers to quickly and easily build, manage and analyze customer data to gather deep insights and personalize customer engagement across social media, mobile, e-mail, online, and in-store channels, driving a significant increase in sales and customer loyalty. Capillary’s 360-degree solution powers end-to-end customer engagement, clienteling, loyalty and social CRM for more than 150 major brands across 10,000 retail locations, bringing instant shopper gratification to over 75 million consumers across the United States, United Kingdom, Middle East, South Africa and the Asia-Pacific region. Capillary’s customers include industry leaders such as Benetton, Marks & Spencer, Puma, Pizza Hut and KFC. Capillary has been named Marketing Magazine's CRM & Loyalty Agency of the Year 2013; a Gartner 2013 Cool Vendor; and one of Mint/WSJ Bloomberg Businessweek’s Hottest Technology Businesses 2013. Capillary is backed by Sequoia Capital, Norwest Venture Partners, Qualcomm Ventures and American Express Ventures.
Want more information on high-value customers? Read the entire white paper!