Fifty per cent consumer brands are taking their loyalty programs more seriously, said Florian Wolfframm, Head of Marketing and Rewards, PAYBACK India, while presenting the opening inaugural session of India’s largest Loyalty summit.
PAYBACK was the key Platinum Sponsor for this year’s 5th Loyalty Summit 2012. The seminar highlighted that customers are becoming harder to please and even harder to retain. They’re extremely informed; increasingly price conscious and less brand loyal, thus this year’s theme was ‘Driving Loyalty through Customer Experience Management’. The two-day event was attended by the who’s who of the loyalty industry with workshops, industry experts sharing their views on the latest ways to retain a loyal customer adopting successful tools to reach out to and engage with customers using innovative thinking and maximizing value offerings.
Addressing the inaugural session, Florian Wolfframm, Head of Marketing and Rewards, PAYBACK India, “Loyalty Summit 2012 showed that India is one of the most exciting destination for creating a dynamic loyalty base for rapidly growing businesses. We expect to see much higher consumer interaction with companies especially in the retail segment. We are very happy that PABACK has successfully set up the coalition format in India giving us the first mover’s advantage. This summit is a great platform to showcase the multiple benefits offered by coalition loyalty programs.”
Sharing his opinion on the evolving loyalty programs, Mr. Pawan Sarda, Chief Marketing Officer- Future Group said, “The Loyalty Summit has been a great learning experience in understanding the acceptance of multi-partner loyalty programs in India. Its interesting to see companies investing in innovative customer engagement solutions. Our association with PAYBACK goes hand-in-hand in creating that extra value for our loyal customers.”
Commenting on PAYBACK’s association with Loyalty Summit, PAYBACK India MD & CEO Vijay Bobba said, “This time again we are platinum sponsors for Loyalty Summit 2012. We believe this is an excellent opportunity to showcase our partner base and our growth story in India. Through this initiative we want to reach companies who are looking for strengthening their customer relationship in order to retain them. This year we at PAYBACK will create yet another benchmark where we will see returns on our efforts put through the years. Our association with big national partners shows their trust in PAYBACK program. As a classic example, our redemptions have increased 30%- 40% from year.”
The Loyalty Summit offers an excellent platform for market leaders as they share their particular experiences, showcases concrete examples of loyalty strategies and solutions. This annual event serves as an enabler to replicate solutions in light of the increasing demand for loyalty/ partnership marketing solutions and the importance of value sharing. The summit aims to explore and discuss on the development of loyalty understanding, building of mutually beneficial relationships through program preparation that will lead to the learning of return on investment metrics for businesses. The speakers provided an interesting perspective on the latest developments and trends in changing consumer behavior patterns.
About PAYBACK
PAYBACK is India’s first and one of Europe’s largest multi-partner loyalty programs. PAYBACK has 30 partners in the network, namely ICICI bank, HPCL, BIG Bazaar, Make my trip, Megamart, UniverCell, Hometown, Food bazaar, Ezone, Central, Brand factory, book my show.com, Letsbuy.com. The largest partner portfolio and widest range of redemption points in India assure that members can not only collect points for everyday shopping quickly from many outlets using just one card but also easily convert them into attractive rewards. Companies benefit from PAYBACK’s state-of-the art direct marketing and couponing services. PAYBACK partner companies gain unprecedented advantages from its proven tools and processes. Loyalty Partner (parent company) owns a majority stake in PAYBACK India. Peepul Capital and ICICI Ventures are additional investors.