20 Mar 2024

Strengthening Small Business Partnerships within Enterprise Portfolios – Klosebuy 

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In recent years, the need for enterprise solutions suited for small businesses has evolved significantly. An enterprise refers to a large organization or company that operates across multiple sectors or industries and typically serves a diverse range of customers. With core digital marketing applications and Do-it-Yourself software platforms becoming commoditized, enterprises with large small business portfolios, including merchant acquirers and telcos, are seeking innovative ways to provide value-added services to their base of small businesses.  

For the purpose of this article, an enterprise offering is a holistic value-added strategy or offering that links the business enterprise with its base of small businesses in order to support and help those businesses thrive. As an example, if you sign up with a bill payment provider as an example, expect that they will market value added services to you such as loyalty or financial management.  

Enterprises have long recognized the value of providing small businesses with solutions that not only facilitate the core services they provide but also help them to maintain a deeper connection with small business customers and reduce churn. Some have already formed partnerships with Integrated Software Providers (ISPs) to offer comprehensive solutions tailored specifically to the needs of small businesses within their portfolios.  

It’s important to ask the question, why should large enterprises support small businesses? One answer is, even as small businesses recover from the effects of the pandemic, the third annual Verizon State of Small Business Survey conducted by Morning Consult with excerpts published by McKinsey, discovery that:  

• 82% struggle with inflation’s rising costs, which can mean life or death to many merchants that are already operating on a shoestring as their customers cut back. 

• 65% of retailers, including most food and beverage companies, are concerned about inventory as supply chain disruptions continue, while 66% worry about cash flow. 

Every small business thrives on acquiring and retaining customers. Amid the array of services, easy-to-use loyalty platforms have emerged as a powerful tool for fostering customer acquisition and engagement, creating more reasons for enterprises to offer loyalty as a value-added service to their small business customers.  

 Loyalty platforms once seen as a privilege for corporate giants, have now become indispensable tools for businesses of all sizes. Today, small businesses can easily tap into the power of these platforms to attract and retain customers effectively. With simplified processes and intuitive interfaces, loyalty programs are more accessible than ever. These platforms offer a range of features to drive customer acquisition:  

  • Digital channel loyalty marketing tools  
  • Ability to connect with customers in a community  
  • No need to involve massive IT for complex integration  

Embracing loyalty-centric solutions tailored to the needs of small businesses can provide enterprises with a strong competitive edge. By offering customized loyalty programs and services, enterprises can differentiate themselves from competitors and effectively attract and retain new customers. 

Moreover, loyalty programs function as a motivator for small business to deepen their relationship with the enterprise and increase their overall engagement. This not only aids in customer acquisition within the enterprise it also strengthens retention efforts and fuels growth opportunities. 

Klosebuy is one such solution that understands that a successful DIY loyalty program is a key requirement for any small business to adopt and utilize loyalty as part of their daily routine. That is why we offer a robust loyalty platform that empowers small businesses to create personalized loyalty programs tailored to their unique goals and customer base. Whether it’s points, rewards or digital promotions, Klosebuy provides small businesses with the flexibility and tools they need to drive customer engagement and loyalty. 

Says Bruce Kerr, former President, BrandLoyalty and now Advisory Board member at Klosebuy; “I can attest to the fact that Klosebuy’s platform was created with a clear mission in mind: to empower small businesses within enterprise portfolios by providing them with innovative and comprehensive digital loyalty-centric solutions”. Added Kerr; “We understand the evolving needs of small businesses in today’s digital age, and our goal is to help them thrive by fostering meaningful connections with their customers”. 

Moreover, Klosebuy understands the importance of no integration for their solution and the ability to provide needed support for small businesses. Our digital loyalty platform is designed as easy-to-use ensuring a smooth adoption by small businesses looking to enhance their loyalty initiatives and drive their business success. 

In conclusion, the future of enterprise solutions for small businesses lies in providing comprehensive loyalty-centric offerings that go beyond traditional services. Klosebuy is leading the way for enterprises to unlock new opportunities for growth and success by helping small businesses connect with their customers in meaningful ways. 

Klosebuy is a Digital Loyalty Platform created to support small businesses with no integration or contract and provides them with the tools to acquire and retain customers. To learn more about how Klosebuy can help your enterprise business contact us at support@klosebuy.com or visit us at www.klosebuy.com