Question

• What is the loyalty program and how CRM works from two perspectives?

1. The first perspective is that of the cashier explaining how the ABC Convenience store loyalty program benefits customers. Be persuasive this customer signs up as you get compensation for each customer you sign up!

2. What are the three reasons from the business side? Three reasons why businesses offer loyalty programs to customers. Please include both cross-selling and up-selling as two of the tree required reasons.

• What are the two specific ways that business has helped or could help the business(Grocery store, convenience store, restaurant, clothing boutique, banking, and financial services) during the COVID19 weeks in the past and undoubtedly, in the future. Suing elements of eBusiness.

What are the type of business continuing with eBusiness after "normalcy" returns?

Answer 1

Loyalty Program is a kind of Sales enablement program which rewards the trade or end customers for consistently purchasing the products at the specified quantity levels during the given time period.

Loyalty program helps build a base of loyal customers who keep coming back to the product time and again.

In the given perspective, the end customer if signed up to the loyalty program may get exciting rewards from the convenience store based on the slab at which he purchases. He can redeem a coupon or gift card or he may be entitled to a discount for purchasing specific items. Likewise, on the other side, the trade (convenience store) will be compensated by means of certain value in the form of credit note for every incremental sign up of customers.

Reasons for offering Loyalty programs:

1. It helps in cross selling certain fast moving consumer goods with other similiar goods that are slow moving in nature. By adding those items in the Sales slab volume, the trader commits the customer to get the buy-in, thereby increasing the share of wallet from the customer.
2. The other main point is that of up-selling. Traders tend to up-trade the buying habits of the customer. For instance, being a convenience store, the regular smoke at the store can be uptraded from smoking a contrabrand cigarette to a good quality cigarette by means enrolling into the loyalty program.
3. Lastly, the question of shop visibility and brand awareness will be put into good effect if the trade runs a loyalty program.

With the Covid Pandemic currently, Many businesses are taking the electronic route.

Most of the retail stores are taking orders through online social messaging platforms to deliver at the doorstep of their customers. Likewise, Restaurants are beginning to offer contact less dinning by means of ordering through the in-house apps instead of hand held menu cards. And also, the banking is in full swing with online transactions reaching historic high. All customer based call centers are operating with employees working from home. All these new phase will become a common thing once the normalcy returns.