Posted in Marketing and Strategy Terms, Total Reads: 537
Definition: Continuity Program
Continuity programs, also known as subscription or auto-ship programs, are marketing tools which encourage replication of purchases by facilitating shoppers to sign up for repeatedly planned product supplies with certain form of automatic payment. These platforms are the foundations of many effective direct-to-consumer (D2C) big business and when executed well become an significant part of your customer retaining management strategy.
Beyond the outmoded marketing and merchandising function for the new customer, evolving a repeat purchasing relationship is necessary to increasing profitability. As the cost of customer attainment rises in the consumer space, making more revenue connections with your standing customers becomes critical. An effective D2C order management resolution must provide the easy continuity program tools to generate these repeat buyer practices. Continuity programs create multi-events, multi-purchase and multi-time relationships with the current customer.
A few key steps can be -
Flexible Testing -Effective continuity programs require tools to run numerous tests and adapt as desirable for a matrix of offer structures of varying complication.
Unique Analytic Tools- Accepting the interplay amid the many moving parts in a continuity offer requires continuity-centric metrics and recording. Precisely track and measure customer continuity purchases from acquisition through retaining and then execute timely and effective continuity revenue-generating methods.
Consistent Communication: Continuity best practices need consistent customer communication with the replication of buyers to get the most out of stick rates.
Unique Customer Support: Customer Service Representatives need to be able to rapidly identify when they are servicing a continuity customer. CSRs require flexible backing by tools that help them present custom suggestions that save-the-sale and spread stick rates.
Continuity Self-Service: Give your continuity customers the choice to speak to a CSR or go online and customize their continuity program themselves. When you do, you increase lifetime value and advance the customer experience.
For Example - In OMX, customers can customize their orders by adjusting ship intervals between deliveries, and exchange or add products.
Manage Inventory Demand: Continuity programs serve to precisely forecast future inventory demand and cash flow.