The Brand Loyalty App We’ve all Been Waiting For
The wait is finally over, businesses all over the Philippines will now have access to the very first, all-in-one brand loyalty application, that can give them the tools necessary to build brand loyalty! PICA is a brand loyalty app that offers businesses tools to create loyalty programs that will enable them to acquire new customers, and retain existing ones to boost sales and drive business growth.
How PICA — or Loyalty Programs in General Help Drive Business Growth
As a business owner, you might possibly be wondering why you should use PICA for your business. Or you might also ask the question as to how PICA will help drive business growth. Those are definitely pertinent questions and we’ll get to answering them in the latter parts of the article; nonetheless as a business owner in the 21st century, where smart phones,and social media rule, one needs to understand the value of keeping up with the times, most especially because technology is improving at an exponential rate, so you definitely do not want to be left behind by your competitors.
History repeats itself as they say, and as we should all know, the ones who do not learn from the past wither away or suffer for it. History abounds with examples of nations or individuals who have failed to keep up or innovate as compared to their peers and enemies, and as we see it, have all failed or perished. We should learn from the past and now look to the future, because with PICA, your business will definitely stay ahead of the pack.
Your Business will Retain More Customers = More Sales
According to Harvard Business Review, and has also been mentioned and studied by several trustworthy sources:
acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.
With digital marketing on the rise because of new omnichannels to market products, we here at PICA believe that it is not 25 times more expensive, and is actually 50 times more expensive since, the rise of these different channels to market your product doubles the costs of marketing. E.g., Facebook sponsored ads and also say, creating quality youtube content. These things take a lot of money and most importantly, a lot of your time.
Numerous studies show that businesses focusing on customer retention increase their sales enourmously. Sailthru, conducted a Retentionomics study in conjunction with Forbes Insights, found that businesses who focused on retention had a near 200% chance of increasing their market share over businesses who focused more on acquisition of new customers. There has also been another study by Bain & Company, with Earl Sasser of the Harvard Business School, that even managing to increase 5 percent in a business’ customer retention can lead to an increase of profits of between 25 to 95%.
“Businesses who focused on retention had a near 200% chance of increasing their market share over businesses who focused more on acquisition of new customers”
To add, here is a TED Talk where Lance Walker, the CEO of Loyalty NZ, the company that runs New Zealand’s largest and most successful coalition loyalty programme, Fly Buys, explain the benefits of customer loyalty programs.
So when we’re talking about focusing more on customer retention, loyalty programs are the way to go. We’ve already tackled how loyalty programs improve your business in this article, so this begs the question, how can PICA help your business in driving more growth?
What is PICA?
PICA is a brand loyalty app that gives businesses the ability to create eMemberships, eCoupons, eStamps, give out Reward Points, and publish exclusive Merchant News inside the PICA app. Let’s go ahead and find out what each feature can do for your business:
1. eMemberships:
Merchants who are using PICA will be able to provide eMemberships to their customers. Customers who are eMembers will have access to the merchant’s own eCoupons, eStamps, earn Reward Points, and have access to Merchant News that is completely exclusive to eMembers of said merchant. This provides merchants the ability to acquire and retain their customers, since they will offer an exclusive membership that will have access to discounts and freebies. This will attract a lot of customers to try out your business, or even stay because of this loyalty program.
Businesses can provide eMemberships in two ways: via mobile number or QR code scanning.
2. Reward Points:
Reward Points can be earned by customers through the purchasing of products and services and is exclusive to the merchant where they got their Reward Points. Conversion rates are customizable depending on the merchants preferences. Although we recommend that merchants set their Reward Points % to 10%; because with this, customers will feel more valued upon receiving larger amounts of Reward Points. It’s also much easier and transparent when accounting Reward Points because the value of 1 Reward Point equate to 1 Peso. This can be changed through the web dashboard that PICA will provide. Customers can use Reward Points to purchase eCoupons to get freebies and discounts. Reward Points enable customers to feel rewarded each and every time they make a purchase at your establishment.
3. eCoupons
Merchants can create their very own eCoupons that can be purchased by their eMembers. eMembers can buy these eCoupons using Reward Points that they’ve earned through the purchase of a business’s goods or services. These eCoupons can offer discounts, and freebies that can be designed by the merchants themselves. Businesses may opt to offer unlimited amounts of it, or have expiration dates, or even choose to price it differently, so it all depends on the merchant’s strategy. eCoupons encourage customers to go back to your business since you reward them with Reward Points, discounts, and freebies, thus turning them into repeat customers.
3. eStamps
With an eMembership, customers have access to eStamp cards that enable them to accumulate stamps and be able to get freebies by finishing an eStamp Card. A customer acquiring 10 eStamps of the Coffee eStamp Card for example would get the customer 1 free cappuccino. Businesses can try offering slow-moving items or services as the reward, or even vice-versa as a suggestion. eStamps are an effective way to encourage customers to keep on buying from your business with them knowing full well that they will get something at the end of every card.
5. Merchant News
The Merchant News feature enables businesses to promote their brand by being giving them the ability to publish news in real-time through the Merchant Web Dashboard. Businesses can use the Merchant News feature to inform their followers about product releases, special events, upcoming sales, and more. Businesses who utilize the Merchant News feature are able to inform and engage their customers more with this new marketing channel. The only people who can see the Merchant News are customers who’ve followed your brand by scanning the QR code of your business. So your business can make it more worthwhile for your customers by publishing news that are engaging and give added value.
6. Merchant Web Dashboard
The Merchant Web Dashboard is where business owners will be able to manage everything, from their eMembers, to the creation of new eCoupons and eStamp Cards. Business owners can monitor which eCoupons are being sold fastest, what their eMember’s purchasing habits are, which branches are performing well, and even monitor which employee did the transaction and when. The Dashboard is a convenient tool to manage, create, and monitor anything and everything pertaining to your loyalty program.
Use PICA to Your Business Advantage
Imagine using PICA for your business. You don’t have to print out coupons or stamps because its all inside the app. Creating a 10% discount coupon for your cappuccino can easily be done in less than a minute. You’re now able to monitor your customers purchasing habits, and because of this, you’re now capable of making strategic moves for your business because of your new knowledge. If you want to let your loyal customers know about your upcoming event, you can easily publish Merchant News that can instantly reach them. These are just some of the examples of how you can use PICA, imagine the possibilities and your all set.
As you’ve just seen, PICA has all the tools a business needs to be able to acquire, retain, and reward their customers. This is the only app in the Philippines that can give your business the edge that it needs to truly drive sustainable growth. If you want to use PICA for your business, feel free to download the app and experience how it works. If you’re not yet convinced, head on over to our website and message us, we’ll immediately get back to you and make sure that PICA can truly help your business out.
