siliconindia | | June 201819CXO INSIGHTSCHALLENGES IN BUILDING CUSTOMER LOYALTY IN DIGITAL ERABy Rijish Raghavan, Vice President and Head of Partner Management, PAYBACK IndiaRijish Raghavan has been steering the business and defining overall profitability strategy of PAYBACK India, a leading loyalty programme and multichannel marketing platform, since 2013. His commitment to process excellence, execution and mentoring a large team of partner managers, has enabled PAYBACK to emerge as a partner of choice for leading corporate.S ustainability and revenue growth is the core of ev-ery business across the world. With the advent of new age businesses, en-trepreneurs, and advance-ment of technological capabilities, it has been observed that there is a dramatic change in consumer be-havior and their affinity to brands especially in the last decade. This paradigm shift in consumer pref-erences and adoption has taken place owing to diverse factors like multiple brand choices, extreme-ly attractive value propositions and availability of content 24X7 with access to social media, online commerce, mobile apps, smart de-vices and wearable technology.The change is reflected across industry dynamics too with hy-per-competitive nature of busi-nesses, multitude of product choices, price wars, heavy mar-keting and brand spends and so on. However at the core of all the above is still the `customer' and the fact that customer retention continues to be one of the biggest challenges to do business today.With an informed and discern-ing consumer at the forefront,
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