Mitul Palan is a well-known personality for all those who are in BPO business, or somehow related to it.
For the newbies, Mr. Palan is a man of many qualities. Talking about Mitul Palan achievements, some of the most prominent milestones in his life include being a successful entrepreneur and the co-founder of Brainworks Solutions Pvt. Ltd. Additionally, he has some really engaging thoughts of gaining limitless profit when it comes to the online or e-businesses.
Customer Loyalty Reward Programs: What are they?
Customer Loyalty Reward programs are one of the best ways to be connected with the customers and provide them a way to do business with you again. Apart from the local stores, these customer loyalty reward (CLR) programs provide numerous benefits to the e-businesses too. Due to the low margins and higher cost of raw materials, it is getting tough with every passing day for the business owners to retain their position in the market.
Experts like Mr. Mitul Palan feel that in such a situation, the CLR programs help businesses in keeping a good number of returning customers and this also somehow help them to get the required publicity from the customers.
Benefits of CLR programs
Mitul Palan thinks that as a e-business owner, you should take Customer Loyalty Reward Programs seriously as they can help you achieve the dream success and can help your business see new heights in almost no time.
Apart from being a way to retain the customers, there are several other benefits to use the CLR programs for your customers.
Some of the most prominent benefits according to Mitul Palan are listed as follows:
- Customer Retention
The worst part of being in the online business industry is that the percent of returning customers is quite less ( to be specific, most e-business report the customer retention rate of 2-3% ). By introducing the CLR program to your e-business, you can increase the percentage of returning customers to 10%. Isn’t it great?
- Get the old customers back
CLR has a great benefit in getting the old customers back to your website. Through the CLR programs, you can get the publicity and create a buzz in the market that can help you get your customers back. So, instead of reducing the products’ price, try this amazing way to get the customers back to you.
- Building new relationships with customers
In addition to get the old customers, CLR programs also let you to attract new and reliable customers to your business. Additionally, you can get closer to your customers and let them know more about your business and exclusive offers that can be availed under loyalty program.
- Reduce costs of promotion and advertising
Apart from attracting the new customers and retaining the old ones, the CLR programs also help you reduce the cost of advertising and promotions that you would have invested while promoting your business over newspapers and other media.
For more information about Mitul Palan and his inspiring thoughts, you must take a look at his social media profile. Mitul Palan on social media can be found on all platforms such as Facebook and Twitter. You can also connect with him on LinkedIn, or simply search for Mitul Palan Mumbai for more details. When you follow Mitul Palan blogs, you will certainly gain a deep insight through his views and rich experiences in life.