Measures of Success – Kudler Fine Foods
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Measures of Success
Kudler Fine Foods
Frequent Shopper Program
Kudler Fine Foods is a major grocery provider in the California area, and would like to introduce a new Frequent Shopper Program, FSP, as a way keep current customers loyal, increase sales, track purchases to better stock inventory, and gain new customers to their database. By initiating a frequent shopper program, Kudler can build on the current customer relationship through customer loyalty. By offering incentives to come back, Kudler can keep our current customers, while building relationships with new ones.
In order to use the new FSP to the best of its ability, Kudler needs to be able to analyze the information collected through the FSP. To be able to compete with todays competition, Kudler must be able to offer value and customer benefits that bring the customer back. The major key for success is to interpret data from the loyalty program quickly, cheaply, and frequently (Santella).
Therefore, to efficiently use a FSP, Kudler needs to invest time and labor, or hire out a third party to analyze the information collected directly through the customers and the FSP. By using the information, Kudler can maximize retailer category and profit sales and combine consumer insight and market intelligence, which would help the store find what promotional tactics work the best on consumers to produce the best outcome, and what inventory sells the best for customers.
One major issue with customers from the frequent shopper program is security. Before, giving out private information was not accepted by the customer. But in todays time, most consumers have come to expect that their data will be used to simplify and enhance the customer experience. There needs to be a CRM setup to help manage this information and organize the data into collective catagories to help management show the results of the invested project (knowledgenetwork.com).
One other benefit from the frequent shopper program is with collected customer data, Kudler might be able to reveal the competitions weaknesses. By determining what brings the customer back to Kudler for their shopping needs, Kudler can analyze what the competition lacks. By focusing on these results, Kudler might be able to advance on the competitions weakness.