Extreme Retention = Profit-centric Marketing (Part 7)

Imagine

Let us imagine how our lives as customers will be different in the XR world.

I go to the apparel ecommerce store. It recognises me as a Best customer based on their CLV analysis of my history. I am offered a different website – completely customised to my preferences. I am offered a preview of the season’s newest collections – ahead of everyone else. I can order what I want and pay for it only if I decide to keep the item. I have access to a tailor should I wish to get any alternations done – all I have to do is to show my XRT (an NFT from the brand which identifies me as a Best customer) on my mobile. I also get prioritised delivery of items. I am also invited to exclusive events – my XRT is the entry pass.

I go to my favourite OTT channel. It knows I am a Best customer based on the time I have spent with them and the referrals I have made. It shows me that there is a new series that is available exclusively for XRT holders like me – three days ahead of general release. I can also invite my friends to watch it – bragging rights to elevate my social status! There is also a Zoom session with the director of the series where I have been invited. I also earn Mu based on the time I spend watching the series.

I go to the nearby electronics store looking to upgrade my phone. At the entrance, I scan the brand XRT and I am immediately identified as a Best customer. The store manager walks up to me, welcomes me, and immediately connects me to the best salesperson who can guide me through my purchase. I don’t have to wait in line at the checkout counter. All in all, a delightful experience which makes me want to come back for my next purchase.

I have just got an alert from the multiplex near my house offering me pre-reserved three seats for the new Disney movie releasing on Friday – my favourite seats (second last row, aisle) and favourite show time (Saturday evening). I have a couple hours to decide if I want to decline. I can also invite as many friends as I want in this two-hour window. When I arrive and scan my XRT, I am asked about our food order and what time I would like it delivered. At any point during the show, I can simply open up the chat window on the app should I need anything.

These are just a few examples of how experiences can be enhanced for Best customers – driving greater loyalty and more repeat business. Airlines do this very well with their tiered loyalty programs. Every brand should be able to: the XRT enables offline stores to bring that same level of personalisation and elevated experience that their Best customers deserve.

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.