Customer Loyalty (Cont’d from Page 1)
for their clients, as organizations have migrated to either a private or a public cloud. Moreover, cloud- as-a-service is enabling organizations to manage not only costs but also achieve better agility. As cloud-based solutions are budget-friendly and easy to deploy, it is highly preferred by Small and Medi- um-sized Enterprises (SMEs). Large Enterprise The adoption of customer engagement solutions in large enterprises, with more than 1,000 employ- ees, is higher as compared to small and medium enterprises, and this trend is expected to continue during the forecast period. Large enterprises deploy loyalty management solu- tions to improve customer retention rate, decrease customer attrition, boost customer re-purchase, and mostly enhance their customer experience and sat- isfaction. Large enterprises encompass distributed data related to customers scattered across different departments and are, hence, opting for robust loy- alty management solutions to manage the loyalty lifecycle of a wider customer base and gain valu- able insights from this data. Large enterprises are keen on investing in new and latest technologies such as AI, ML, and Big Data to automate the loyal- ty management process.
Customer loyalty is one of the most important fac- tor among organizations offering similar products or services, which clearly includes the printing and packaging markets. It provides a crucial product and brand differentiation for organizations when a differentiation through price becomes secondary. Organizations know that loyal customers would promote their brand to new customers by sharing their positive experience. Effective customer loyalty programs ensure cus- tomers engaged and there is successful utilization of products and services, according to the report. It increases customer retention, brand recall, and op- portunities to carry out business with them. Hence, organizations with an efficient loyalty management strategy can record growth in revenue and prof- itability. Currently, customers are opting for sim- ple, portable, and easy-to-use smart devices, such as smartphones; hence, mobile-based solutions for loyalty management are gaining traction. Cloud-Based Benefits Owing to an increasing awareness of the benefits of cloud-based solutions, the cloud deployment for loyalty management solution is expected to grow at a significant rage. The solution providers focus on the development of robust cloud-based solutions
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