Customer support in the payment activity was the discussion in the last post

http://faoblog.com/processes-ar-collections-customer-support-4/

Loyalty offerings

I would like to cover this segment as a separate component. Every business loves its customers, especially those who keep coming back. Companies spend a lot of money to create this loyal base of customers, to the extent that almost 70-90% of the business quite often comes from these loyal customers.

What kind of customer support activities could ensue from here?

  • Special offers – on next transaction, a lot of restaurants do this, they will offer a 10-20% discount on the food bill through a coupon when you visit next.
  • Volume discounts – Over a time period, if the customer’s off take exceeds a certain quantity or amount, special discounts are credited to their accounts. There are times when such discounts are given on threshold volumes for single purchases as well.
  • Ancillary products – if a customer buys a certain type of product regularly, in order to promote similar or supporting or ancillary products, your client may offer special prices
  • Scope expansions – This is again similar to ancillary and may incorporate both volumes and other types of products

In all these and other cases as well, support can be for orientation of the product types / specifications, pricing, discounts, offer terms etc. with the key objective of creating a loyal and repeatable customer base.

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