The paper “ Myers - the Correlation between Customer Loyalty Programs and Customer Satisfaction and Enhancing the Financial Results and Annual Sales of the Company“ is a well-turned example of a research proposal on marketing. The customer orientation and customer loyalty have turned out to be the matter of survival where the Companies are gaining innovative customers and growing existing relationships with them. The communication is closely linked with the target groups, attracting customers and encouraging brand loyalty where the attainment of top of mind awareness and enhancing the sales towards innovation and existing customers.
The customer relationship management is the leading company that is a broad variety of industries that are more than 40 years. It is identified that cross-industry is experiencing the implementation and operations along with the innovative ideas and analytical customer relationship management. There is a creative trend of providing innovative ideas and evaluations of customer relationship management to maintain the long term relationship. Customer relationship management helps to attain information on all their customers so they are providing requirements. There are different types of customer loyalty programs that are used by marketing and customer service, customer contact centers, appointments, and business to business market. Customer relationship management discusses customer loyalty programs including promoting companies to integrate itself towards business to the business network by utilizing customer relationship management.
The special knowledge is needed for a business to business markets where business to business customers are more usually and rational customers in comparison to business to consumers where the team working with knowledge to each customer and industry may improve the sales. The paper discusses the research proposal of Myer case study which describes the literature review, research hypotheses and data collection methods, survey instruments and conclusion. Literature ReviewCustomer relationship management is the concept of consumer and business to business marketing that have always made in order to attempt in order to encourage repeating buying from regular and frequent consumers.
Customer relationship management is the strategy of managing all organizational communication with present customers. True customer loyalty is generated to customers for enjoying consistent experiences that are relevant and valuable. It is identified that customer relationship management is used to enhance customer experience with the organization loyalty programs that has to enable different software.
The multichannel loyalty programs are comprised of organizational points and rewarding that come into true customer loyalty. Customer loyalty is used to enhance and lifting profits per customer by ninety-five, where organizations are re-evaluating their approach towards customer loyalty. It is argued that the Company is facing issues from the global economic climate in order to thriving from the opportunity. Customer loyalty is based on rewarding programs which may influence customer behaviors which may include 70 percent of those participating in the loyalty program where the customer loyalty that can be produced by providing several different approaches towards customer behaviors while communicating with the organizations in different ways. Case Study of MyerThe Myer customer loyalty program bringing out seventy percent of total sales which may cause an increase in the retailer's annual financial results in order to highlight growth and investment in the omnipresent retailing and outlining restricting the marketing and digital teams.
According to the Australian retailing financial report of the year 2013, Myer has now over five million loyalty card members and increasing nine percent over the year which has enhanced 70% of the total sales globally and locally.
The company has distributed around 50 million dollars during the past financial years with average spending and redemption of 3.8 times of customer loyalty of the card. Myer highlighted numerous various towards its customer loyalty program over the past year, including the launch of a Myer one application where Smartphone accessibility towards shopping credit and rewarding card balances along with the notifications regarding events and exclusive news.
Customer loyalty can be a revenue driver and has increased the stakes in the local retailing with its recent customer loyalty programs that provide in-store customer immediate rewards. The main emphasis is to provide inspiration for everyone providing customers, along with 12,500 team members and 51,000 shareholders and 1200 suppliers internationally and several communities that are engaging in a strong brand.
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