Business Growth Archives - Page 4 of 4

How brands can encourage customers to shop again and again

February 8, 2022February 8, 2022 admin

What is a brand loyalty program, and how does it work?

Brand loyalty or customer loyalty program is a marketing tactic used broadly by the retailers and other businesses to identify and reward the customers who repeatedly involve and purchase with a brand. Companies use several marketing strategies such as rewards, discounts, offers, coupons, merchandise, early access to new products, as well as other special incentives to keep existing customers and entice new ones.

Loyalty programs are planned to encourage repeat purchases with a brand. A well-made and executed loyalty program can turn a client into a more regular one who might also become a brand promoter.

Loyalty programs aims at:

Attracting & retaining customers
Rewarding customers (with discounts, coupons, and other special incentives) for repeat business
Improving customer experience with the product
Increasing the overall sales & profits

Ways businesses can keep their customers coming back:

By improving customer engagement rates, companies can easily make loyal customers. Customer loyalty supports to build an emotional connection among the customer & the brand. Growing customer engagement is the most effective way to form a long-term customer relationship. Following are some tips to know what is customer loyalty program software and how a brand can encourage customer engagement-

Offer more than just a discount: Although clients love to get discounts, they yet want more from the association. Brands can propose experiential rewards to generate an emotional bond that goes beyond transactional rewards. Experiential rewards offer members with access to exclusive experiences to the brand and cannot be replicated. These types of perks encourage the customers to keep coming back to same brand.
Apply gamification method: Many brands apply gamification methods to drive engagement, which is key to better purchases & loyalty. With gamification, clients earn rewards by performing particular actions such as taking a quiz, rotating a prize wheel, or reaching a specific membership level in the rewards program. Few of the most common gamification techniques brands use in their loyalty programs comprise redeemable points, performance graphs, badges, leader boards, etc. All such techniques assist businesses to keep their clients encouraged to remain involved with their brand.
Digital Loyalty Program: In current digitally-driven world, companies must provide a loyalty program that runs automatically in a mobile app. This is a new way to drive better engagement with the brand. Mobile loyalty programs permit customers to gather points with both online and brick-and-mortar stores within an app. As everything is managed within the app, businesses can swiftly review the client data to improve their business. Furthermore, the customer has achance to add points & redeem personalized, location-based rewards rapidly. This drives engagement and improves loyalty.

Loyalty programs are certainly the best and most real ways to keep existing customers, appeal new ones, and make higher profits. Though, it is important to set a brand loyalty program wisely or qr code loyalty program, keeping the target clienteles in mind to leverage its gains to the fullest.

How Does An ERP Software Deliver An ROI (Return On Investment) For Your Business?

December 21, 2021December 22, 2021 admin

If there is one system that a lot of companies implement today is the ERP. Enterprise Resource Planning is a system which automates core business functions like inventory & order management, accounting, customer relationship management, human resources, manufacturing and others. These functions are integrated into one system thatincreases the company’s effectiveness and productivity significantly.

How ERP implementation is helping businessesto grow:

Investing in operational ERP has been a priority of businesses ever since. With the massive number of companies counting on an ERP, it is certainly a system worth investing in.

1. Cost-Efficiency – By integrating the essential functions of an industry into a one, enterprise-wide system, an industry is able to simplify its disordered processes, thus saving a lot of money. It eliminates the requirement for an independent system for every department, therefore the amount of cost & time associated with training more users for different systems is also eluded.

2. Efficient Data Sharing – It permits its users to upload, edit, as well as share critical data with other key persons in the corporation. This seamless data sharing abilityincreases the quality not just of the deliverable,however the communication between the employees too. A more distinct work collaboration in the business makes every output more accurate and on-point.

3. Improved Productivity – Using an obsolete resource planning module to run a business is not only costly but also damages the productivity level of your staff. With ERP Software, your staff will not just experience a more well-organized system, their outlook towards the task will also change, growing their productivity level in the procedure.

4. Agile Decision Making – Many successful business nowadays knows that ERP software is an important tool not only to expand operational productivity but also as a main resource when making important business decisions. A lot of current ERP software today letsyou access even the most significantdata in real-time through cloud technology. Cloud-enabled ERP systems are not just more cost-effective, but also allows small companies to track their key metrics & analytics real-time.

5. Greater Supply Chain Visibility – ERP software can aidhugely with supply chain management to large as well as small businesses that have to deal with shipping. It will give businesses better understanding into their supply chain processesso that owners can make informed decisions so as to stay ahead of their contenders. Issues rising in the supply chain can be swiftly notified and stopped with the help of the system.

6. Happier Customers – Customer fulfilment is a major fuel to keep any corporate running, the best way to do that is by giving standard services involved towards them. ERP implementation in your industry can help you guarantee customer satisfaction in numerous ways.

We provide the best ERP software at Razorse Software. Our team of professionals would help you select the right ERP system for your company & analyze the ROI it is going to get you when the project goes live.

Other than ERP based custom enterprise software development, our custom loyalty program software also help you to improve the RoI.

Impact of Covid-19 on the e Commerce Market in India

November 9, 2021November 11, 2021 admin

2020 was a challenging year for many. But at the same time, ecommerce developed like never before.It appears that many ecommerce companies saw their online revenue risein the worldwide lockdown in the spring of 2020.

The effect of the Covid-19 pandemic has shown the development towards the growth in sales through e-commerce sites. The lockdown rules all through the country restricted the people to get out of their houses and even for necessary goods. This gave rise to a surge in the use of many online portals for buying all types of products, ranging from basic items to branded ones. The strict rules like social distancing that were compulsory for people to follow to contain the surge of Covid 19 improved the scope of online purchases.

Various online businesses were started seeing the rise in demand for such portals. Several surveys show that more consumers have gone online to look for vital products. Some reports showed that the Indian e-commerce site is expected to reach its US counterpart to turn out to be the second-largest market for e-commerce in the world in coming years.

Products related to groceries, restaurant deliveries, pharmaceuticals, health, and hygiene products observed the largest growth in the Covid-19 crisis through online marketplaces. Customers avoided going out until they don’t have any alternative to purchase the product online.

There was a lack of efficiencyin the lockdown which resulted in people losing their jobs; businesses were shut, people experienced pay-cuts and amid all that there was just one platform that flourished, and that was e-commerce. A lot of people shifted their businesses online to get their sales back on track and they were successful also in doing so.

To avoid contact with people and to follow the social distancing rules, there was a rise in e-payments. People chose for cashless transactions to evade the spread of coronavirus. Some of the key elements that drive the development of e-commerce markets comprise steady growth of internet users and increasedalertness related to online shopping, growing online launching of products, and low prices on bulk buying.

The lower prices of goods because of direct distribution channels further contributed to the development of the international e-commerce market. Staying at home and social distancing pushed the customers for online shopping.

Now businesses have become more likely to use e-commerce services. Some businesses have taken the opportunity to acquire new skills to increase their online presence. Businesses have now moved forward with digital distribution plans. To guarantee a well-organized e-commerce experience for the customers, policymakers need to know their customers. They must foster the enabling environment for online transactions in areas that comprise digital goods and services.

In spite of all the bad things happening because of the outbreak of the coronavirus, economically 2020 was not bad for a lot of ecommerce companies as they only need an online delivery app for their business to complete the received orders.

Risks and Solutions while using QR Codes

October 4, 2021October 4, 2021 admin

QR codes are extremely common today, enough that the attackers are discovering ways to use them for profit.Quick Response (QR) codes are two-dimensional barcodes used to permitthe users to access data or web-based resources (URLs).

While the technology might have originally been unnoticed by the West, QR codes become more commonly used in 2020 because of the Covid-19 outbreak.Businesses, governments and other administrations turned to the technology as a way to track social movements.Governments in US, Europe, and Asia also used QR codes as part of the coronavirus track-and-trace systems.

QR Code Security Issues

1– First, hackers can inject your phone with malware. This direct approach needs nothing more than an unsuspicious employee or consumer to scan a QR code out of interest leading to an infected site. Just by visiting an infected site can activate a malicious download. One instance of how they can deliver this attack method is by sending the QR code in an email that seems to be genuine and hence attracting the user to scan it.
2– Second, the attacker leads you to a phishing website to steal your credentials or to achieve access to your private info on your mobile device. Phishing sites can be difficult to detect. They use a related-looking Universal Resource Locator (URL) to a confidential site. Another approach is by changing the domain extension. For instance, they change the “.org” to “.com.” Other times, there is a small change in the spelling of an URL that so hard to differentiate that it tricks the user. When the user visits the phishing website, username/login credentials are demanded. After the attacker has your log in, they can access your accounts, see private information, make changes and cause irreversible loss to your company name.
3– Third, cybercriminals can print-out free encoding tools on the internet to make the QR codes. They print the QR code on adhesive paper and place it over a valid QR code, or they can mail a malicious QR code to an unsuspecting customer.
4– Fourth, there’s always the danger that an attacker finds a bug in a code reader application that could end in the exploitation of cameras or sensors in phones or other devices.

Solutions toavoid QR Code scams:

Users have numerous ways to reduce the risk of QR code scams and security issues.

1– If anyone seems to send a QR code, connect with the supposed sender and enquire if they sent it.
2– Watch for URL-shortened links appearing after scanning the QR code, which could hide malicious URLs.
3– Organizations: Position a mobile defense solution that blocks the phishing attempts, exploits, phone takeover and unlawful downloads.
4– Embrace multifactor verification in place of password access to the applications and cloud resources.

It is very important nowadays to cover all your bases when it is about mobile data security. Defending against pervasive and rising malicious QR codes must be on top of that list.

Know more about QR code based applications with us.

Why is custom ERP development the fastest way to push your business forward!

September 9, 2021November 23, 2021 admin

ERP, Enterprise Resource Planning is a software system which gives great benefit to businesses for making all operations under one roof with integrated and centralized systems. It is an integrated system where all your operations like purchase, sales, accounting, customer service and manufacturing are in a single database with a great user interface.

Why custom ERP development:

Cost effective: ERP implementation is not economical but while using it in organizations give results to save money. An ERP unifies various systems which are presently fragmented in your organization, i.e. different system for product development, IT support management and supply chain management etc. This integrated system will help the businesses to make cost effective and better business processes and will save money by excluding training of different systems. All the departments undergo only one system training which will save cost and time associated with it.

Improved collaboration – The functionality and features of an ERP system can differ depending on the system that you are using, however all these systems provide to edit and share data as well as improve safety and access. There is no necessity to merge information across different sources or systems because all the data is stored, shared, gathered and accessed through a single system without the fear of how exact, complete or protected data files are.

Better reports in less time – An ERP development system can make it easy and quick for your team to create different reports which comprises income and expenditure of the company and customized reports based on trends and metrics. An ERP system has the skill to access all the data rapidly which will aid your team to make reports quickly thus helping them to make conclusions very fast. You would not have to rely on the IT staff to prepare the report as you can easily get it from system itself.

Improved productivity – Without an ERP development, you or your team have to complete the tasks manually. At times there will be redundancies in the procedure and waste of time in doing the repetitive tasks. An ERP will help to save time resulting in a positive impact on your company’s productivity, efficiency and profitability.

Happier customers – These days customer service is a significant part of any business as on the digital edge people use the internet to gather information about every product that they want to purchase. The right ERP system can help you to better communicate with your customers at various stages of development.

Simplified regulatory agreement and risk management – ERP systems have inbuilt auditing tools to support with some documents or reports which can be submitted to significant administration. Besides this, ERP systems generally provide the tools to manage risk. The ERP system will increase consistency and accuracy of monetary management as there is less error in accounting entries. Moreover forecasting tools are available which aid organizations to decide demand, labor and budget.

Improved inventory and production managing – If your association is dealing with production development or inventory controlling then you can get advantage from ERP systems. An ERP can be used to increase production planning, shipping and delivery schedule and help to make it easy and simple to improve your efforts instead of guessing about volumes, processes & more.

Some benefits of using an ERP System:It reduces paper documents in business.

Accuracy in gathering of information and management.

Customer support with quick response.

Better monitoring on business and fast resolutions on queries.

Increased payment processing and invoicing control.

ERP system will help to incorporate all other departments and manage it with single database.

1. It reduces paper documents in business.
2. Accuracy in gathering of information and management.
3. Customer support with quick response.
4. Better monitoring on business and fast resolutions on queries.
5. Increased payment processing and invoicing control.
6. ERP system will help to incorporate all other departments and manage it with single database.
7. ERP system with business intelligence tools will give better reporting for business.

How Loyalty Solution increases sales?

August 23, 2021August 23, 2021 admin

A customer loyalty program is a vital reflection for your business. If you are a flourishing business looking to increase your sales, it’s time to start implementing such a program. The benefits are boundless. From improving the buying experience of your consumers to improving your sales, achieving customer performance analytics, and growing your product’s reach, there is a lot you can do with a customer loyalty program.

Loyalty programs helps in improving the customer experience, drive sales and offer valuable data to assist retailers to better understand their clients. Loyalty programs make your customers feel acknowledged and special which further leads to retention, more referrals and profits. Rewarding your customers for their loyalty and repeated engagement with your brand can aid distinguish your brand from other contenders and also make the clients feel valued.

Loyalty solution increases profits, improves sales success and permits for sustainable evolution. A well-designed and well-implemented loyalty programme can help you keep existing customers, attract new ones and drive profits. A great loyalty program that boosts value can quicken the loyalty life cycle.

Benefits of Customer Loyalty Programs

Loyalty programs increase sales – Loyalty programs unquestionably increase sales and revenue. Loyal customers are more believably to repurchase, refer more and try a new offering. Loyalty solutions are a verified incentive to make customers select you over your opponents and bring them back to the shop regularly. A well-planned and executed loyalty solution has a positive influence on your business and customer loyalty.

Improved customer engagement – It is a very significant aspect that has a direct influence on brand sustainability, especially in the long run. Loyalty program is a great way of increasing client engagement. The consumers are more open to getting emails or other promotion content from brands when they are the members of brands’ loyalty or rewards programs. The program guarantees complete customer engagement and aids in strengthening the connection between brand and its customers.

Impact on brand affinity & loyalty – Regular brand engagement can support to build brand affinity, which is thus strengthened by a loyalty program. Rewards, incentives and gifts help to build a satisfying client experience, which in turns creates brand affinity. A sustained, reliable and profitable customer-brand association helps in boosting brand loyalty to stand out and provides the brand a competitive power.

Improves customer experience – Customer experience is the collective experience a client has with the brand from the pre-sale to post-sale process. Most brands now are trying to craft a wholesome experience for their clients and one of the simplest ways to do that is through a loyalty solution. Possibilities of receiving a reward creates excitement and anticipation and getting the reward considerably increases customer satisfaction, thus creating a positive customer experience.

Increased customer retention – One of the major benefits of a loyalty program is that it has an instant and evident impact on client retention rate. A retained customer is a benefit to any brand, they bring more returns, have more probabilities of becoming brand promoters and represent the product as a genuine brand loyalist.

Category: Business Growth

How brands can encourage customers to shop again and again

How Does An ERP Software Deliver An ROI (Return On Investment) For Your Business?

How ERP implementation is helping businessesto grow:

Impact of Covid-19 on the e Commerce Market in India

Risks and Solutions while using QR Codes

Why is custom ERP development the fastest way to push your business forward!

How Loyalty Solution increases sales?

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Technologies

Industries

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