Why do the Consumer Brands need an Omnichannel Customer Engagement Solution anyway? Traditionally, the makers of branded consumer goods (also called Fast Moving Consumer Goods (FMCG) or Consumer Processed Goods (CPG)) have reached their customers through an elaborate network of stockists, distributors, dealers & retailers. Creating such an elaborate setup has yielded enormous supply chain efficiencies. The result being that if one compares the real prices (after adjusting for inflation), today we pay just a fraction of price for daily use items as compared to our earlier generations.
However, this complex network has meant that the manufacturers have lost direct touch with their ultimate customers. They have no choice but to reach out to the consumers using very costly mass media advertising. And for listening to the Voice of Customer, they have to rely upon the aggregated “survey” information collected by marketing research agencies. This means that the actual customer relationships have got left in the hands of retailers.
Three Component Solution for Customer Engagement
At Brand Wallet, we are creating a 3 component solution to correct this.
1. QR Code based Serialization: We have created a mechanism of 2D Quick Response (QR) codes based product serialization system. As part of this system, we create a universally unique QR code for each unit of your production run. These codes are ideally placed inside the packaging, accessible only after breaking open the product seal. Placed this way, they establish a “Proof of Consumption”TM and act as a fool proof anti-counterfeiting tool.
2. Coalition Loyalty App: Customers scan these QR codes in our Gamified Coalition Loyalty App. This app is capable of supporting the loyalty programs of thousands of brands on a single hyper-scalable platform. This takes the “Permission Marketing” framework to next level. Customers voluntarily share data with their favourite brands by joining their individual loyalty programs. The program encourages them to share more data about themselves, as the more they share – the more loyalty coins they earn.
3. B2C CRM Engine: Brand Marketers manage all the authentic customer first party data collected through the loyalty app in our green field B2C CRM application. This software is designed for managing hundreds of thousands of individual customer relationships by each brand. It provides advanced capabilities for customer segmentation, campaign management, cohort engagement & analytics. With effective use of cutting edge technologies like conversational AI (Artificial Intelligence), marketers can engage with their consumers at scale, provide after sales support, and generate repeat business.
The three components of our solution work together to create a truly omnichannel customer engagement platform. As a result, you can lower your customer acquisition costs, enhance customer retention, generate higher revenues and ultimately realize better profits.
