February 23 2016, 16.46 PM IST || Pocket News Alert
9th Loyalty Summit concludes in Mumbai
Chandigarh, February 22, 2016: PAYBACK, India’s largest multi-brand loyalty program, was the mentoring partner at the 9th Loyalty Summit 2016 for the fifth consecutive year in a row. Mr. Gaurav Khurana, CMO and Head of Online Partnerships, PAYBACK India delivered a session on the ‘Changing rules of customer engagement’ in today’s scenario. With changing consumer dynamics, his session demonstrated the need for ‘Contextual, Personalized and Real Time (CPR)’approach for businesses to stay relevant in today’s digital era. This is one of the most important aspects required to improve the effectiveness of loyalty programs and it would continue to remain a strategic differentiator, with growing investments.
While presenting the session, he mentioned that CPR needs to be an important tool for Loyalty Programs towards building an engaged customer franchisee Brands also need to understand consumer requirements and deliver greater values as customer’s loyalty is eroding fast and have increasingly price conscious. The two-day summit had leading B2C brands across all verticals which included durables, non-durables, retail, travel, financial services, healthcare, telecom and entertainment. The summit aimed to explore and discuss on the development of loyalty understanding, building of mutually beneficial relationships through program preparation that will lead to the learning of return on investment metrics for businesses. The speakers provided an interesting perspective on the latest developments and trends in changing consumer behavior patterns.
Speaking on the occasion, Mr. Gaurav Khurana, CMO said, “The new technology landscape has facilitated greater access to information for a more evolved customer. PAYBACK is the market leader in the loyalty space and this is something we intend to build on, while engaging our customers with new and innovative ways and thereby delivering significant value to our partner brands.” He also defined the importance of constantly adjusting and refining value propositions by marketers that match the customer’s needs and desires; hence, making it easier for the customer to decide from the abundance of choice available in the market.
Loyalty Awards, 2016 was also held during the summit to recognize the efforts undertaken by an organization in the area of customer loyalty to improve customer relationships and building long term profitability. PAYBACK India swept away with maximum number of awards in the loyalty sector. PAYBACK was recognized as Champion of Champions – Loyalty Program of the Year, 2016. They also won, ‘The Best Loyalty Team and Best Rewards Program’ at the Summit which has concluded recently. PAYBACK’s partner including ICICI Bank, Pantaloon and Future Group also won the awards at the summit. The award was conferred on PAYBACK based on the and the nomination write-ups.
On winning the awards, Mr Rahul Rana, MD & CEO PAYBACK said, “We are delighted to receive the awards and this achievement has clearly defined PAYBACK as a harbinger of loyalty industry. Being a customer centric brand, we strive to provide our customers the best and more relevant offers both online and offline.”
The Loyalty Summit offered an excellent platform for market leaders as they shared their particular experiences, showcased concrete examples of loyalty strategies and solutions. This annual event serves as an enabler to replicate solutions in light of the increasing demand for loyalty/ partnership marketing solutions and the importance of value sharing.
About PAYBACK India
PAYBACK is India’s largest multi-brand loyalty program offering its members multitude of benefits. PAYBACK has over 50 partners including affiliate brands participating in the PAYBACK Network across categories in-store as well as online namely American Express, TripAdvisor, ICICI Bank, HPCL, MakeMyTrip.com, Formule1, Samsung mobiles, Big Bazaar, Food Bazaar, fashion@BigBazaar (fbb), Food Hall, Pantaloons, Central Home Town, Brand Factory, futurebazaar.com, bookmyshow.com, eBay, Amazon and many more. With such a varied portfolio of partners, PAYBACK Members can earn points on everyday shopping and redeem them for attractive rewards, at their preference.
PAYBACK has been awarded as “Best loyalty solution provider” 2015 in e retail congress. It has also been bestowed with “Product of the Year” 2013 in the Reward Points/Loyalty Programs category, based on 18,000 consumer interviews, across 23 cities in India. PAYBACK has also been honoured with Retailer Customer Service Awards for 2013 in Customer Service-Business Services category.
PAYBACK Program is operated by Loyalty Solutions and Research Private Limited (LSRPL). LSRPL is majorly controlled by Loyalty Partner GmbH, a subsidiary of American Express. For more information please visit PAYBACK.in; PAYBACK.net. You can also connect with PAYBACK at PAYBACK India Facebook page or 1860-258-5000.
