In the grand scheme of things, cloud computing is still relatively new. Though it has been around for about a decade now, cloud computing is still changing the way businesses perform and adding new capabilities that just weren’t there before. Business owners considering the switch to cloud computing will want to be aware of some of the ways it can help transform their business.
Improve How IT is Organized and Implemented
The enterprise architecture for a business has a huge impact on workflow and how everything gets done. Cloud computing changes the way the business is structured for the better. With cloud-based services, businesses can better organize all of the data, make sure software is easily accessible to those who need it and updated regularly, and control who has access to what data. All of this helps to make the business run more smoothly, as everything is organized, and it’s easy to keep it that way.
On-Demand Services Without Buying Equipment
Upgrading doesn’t need to mean purchasing a ton of new equipment. With cloud computing, it’s easy to update the services available and to access those services without needing to purchase a lot of supplies. This can help companies save a significant amount of money and allow them to make sure the business always has updated equipment to use. There’s no longer a need to request new equipment through IT services then wait for it to be available as resources can be updated instantly.
Rapid Scalability When Needed
When businesses launch a new product, they may need to scale up the bandwidth for their website to handle the influx of new customers. After the initial rush has ended, it’s likely they can reduce the bandwidth some to account for fewer visitors at one time to the site. This is able to be done rapidly with cloud-based services. There’s no need to purchase and install more servers. Instead, the company can just scale up the bandwidth as needed and scale it back down whenever they’re ready. This saves a significant amount of time and allows the business to scale up rapidly if the business starts to see an influx of new customers overnight.
Measured Services to Save Money
With cloud computing, there’s no need to pay for a bunch of features that aren’t really needed. Business owners only pay for what the company can use. If the company needs to scale up resources temporarily, that can be done. Once the increased resources are no longer needed, it’s possible to scale back down and start saving money again. With measured services, there’s no need to pay long-term for features only needed temporarily or to purchase software and other items that will only be used once in a while. The services, instead, are pay-as-you-go, so it’s far more cost-effective for any business.
Easier Collaboration For Teams
Recently, more companies have been discovering the benefits of allowing employees to work from home. The way to do this and keep everyone in touch is through cloud computing. Since everything is in the cloud, employees can access work from anywhere, keep up to date on any new developments with their team, and work alongside the team to get projects done, even if they’re at home or away from the office. Cloud computing allows for faster updates when changes are made as well as easy access for everyone on the team, providing an easy way for employees to work from home, at least part of the time, and still stay connected.
Better Security and Easier Updates
Security should always be a top concern for businesses. It’s easy to worry about security when everything is on the cloud. However, cloud services tend to be more secure and will make it easy to recover lost data or other issues if anything does happen. On top of better security, business owners will be able to keep the software used updated to the latest version, which helps increase security overall. Often, the main reason for software updates is to eliminate loopholes that could allow a hacker to gain access. By using cloud computing, the software is always kept up to date, minimizing the potential for anything to happen.
Cloud computing offers you the chance to transform your business for the better and make sure it is always able to keep up with the changing needs of the company. Whether you’re worried about collaboration when working from home, keeping everything updated, or scalability during sales and product releases, using cloud computing allows you to access everything you need to keep the business running.
Martech failure? 50% say loyalty programs don’t offer much value
The goal of martech is to add value for business and customer via personalized experiences which increase brand engagement. Loyalty programs seem like the perfect channel for this. So why is there such a huge gap between customers’ expectations for those programs and what they get?
Half of all US customers say loyalty programs don’t offer much value, according to a report from digital insights firm Incisiv and Punchh, a customer loyalty services provider. This is a real problem, given the huge impact these programs have on customer retention, satisfaction and brand advocacy. Customers who sign up for them engage with that brand 70% more than those who do not.
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The gaps. So what is it customers want and aren’t getting?
- 70% prefer to manage loyalty programs via app.
- 26% Top 150 retailers and restaurant chains have a dedicated loyalty app.
- 67% expect surprise gifts.
- 28% Retailers and restaurant chains send gifts, offers or discounts on special occasions
- 75% prefer instant discounts/redemptions.
- 16% Retailers and restaurant chains offer instant discount on purchases instead of reward points.
- 72% expect personalized rewards.
- 48% Retailers and restaurant chains offer some form of personalization.
Enough with the cards already. It’s 2022 and people have been irritated about physical loyalty cards for decades. In case your own experience isn’t proof enough: 43% of shoppers say physical cards are the biggest obstacles to claiming rewards. And, this shouldn’t be surprising, 57% of shoppers like to engage with loyalty programs on their mobile phones. This means a digital rewards card is the bare minimum if you don’t have an app.
If you do have an app, it should clearly provide more functionality and benefits than a card. The more it does that, the more people are likely to use it. Over 70% of shoppers are more likely to participate in a loyalty program that provides access to loyalty cards and rewards via its mobile app. However, only 4% of grocery retailers offer enhanced rewards or benefits on their apps.
Make members feel special. Joining a loyalty program signals that a customer values your brand (37% of shoppers are willing to pay to join or upgrade to a higher tier of their loyalty membership). Make sure they know you feel the same about them. Nearly 60% say loyalty programs don’t make them feel they are a part of an exclusive group. How? Well, 46% want premier or exclusive access to sales and promotions.
Why we care. I can’t tell you how many websites I registered with and forgot about that send me an email on my birthday. I get them from a few loyalty programs as well. I’ve never gotten one with an offer or a discount.
The bare minimum martech stack provides data unification, digitization and channel integration. A good one offers real-time analysis of customer behavior (past purchases, browsing history, etc.) combined with things like product attributes and availability to create an attractive personalized offering. For the customer, loyalty programs have to be more than a way to earn points. They have to give something unique and special. If your stack can’t tell you what that thing is, there’s something wrong with it.
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