Create a Successful Loyalty Program
This post on how to create a successful loyalty program was contributed by Account Coordinator, Cassie Alaimo.
Have you ever thought about starting your own loyalty program, but you are worried it won’t be successful? Don’t know where to start? Well worry no more, the following is information that will help you get on the way to starting a successful loyalty program.
Customer loyalty is hard these days with so many options readily available at peoples’ fingertips. When it comes to loyalty programs, your customers will be inclined to consider their own personal goals, what suits their needs, what is convenient to them, and which program will provide the most rewards. So, the big question is, does your loyalty program measure up, and is it worth your customer’s time and effort to go out of their way to choose you over the rest? The only way to ensure that consumers will be loyal to your company and/or brand is if it in turn helps them.
Before you can build a successful loyalty program you need to build customer loyalty, there are a few easy ways in which this can be done.
- Use social media platforms
- Provide exceptional service & customer service
- Be consistent
- Focus on the customer, not competition
- Build credibility with customer interactions
- Create added value
- Share positive customer experiences
- Reward customer loyalty
Customer loyalty can be why consumers shop at one store versus another or why they drink or eat a certain brand over another. Maybe they get points, coupons, or discounts. There are many benefits of creating a customer loyalty program, it is just a question of finding which is right for you. It doesn’t matter if you have a small business or big, as long as you have customers you can have a loyalty program. There are many benefits for creating a customer loyalty program; however, there are some important things to consider, such as knowing what kind of rewards you want to give, how you are going to reach your consumers, and how are you going to retain them.
Types of Rewards
- Loyalty rewards: reward your regular customers with free or discounted products and services
- Birthday rewards: treat customers on their birthday
- Digital Rewards: rewards you can’t lose (easily available on your smartphone) sent via mobile apps, emails, and text message
- Points Programs: Tracked on mobile apps, web sites or punch cards
- Promotions: Surprise & Delight, Giveaways, Contests, Instant Win Games
- ‘Exclusive’ deals and complimentary benefits
- Status rewards: ‘VIP’, ‘Red’, ‘Silver’ with a hierarchy of benefits
- Targeted messages through SMS, email, social media, or mobile app notifications
- In store messaging and signage
How to Retain Rewards Members
- Offer the consumers deals too good to turn down
- Prepaid bundles
- Sell packages to customers
- Store credits
- Issues vouchers & refunds
- Outstanding rewards
- Create an emotional connection
- Easy access
- Thinking Beyond Transactions
An effective loyalty program is one that engages the consumers with benefits they actually want and will use. It is well-designed, implemented, promoted, and maintained. When creating a successful loyalty program there are some important things to remember but most importantly, keep it simple and well-designed, make the loyalty rewards attractive and obtainable as well as relevant. Offer a variety of rewards. Make sure the loyalty program is promoted and maintained – if the customers have multiple opportunities to join, hear good things about it or even get an incentive to join, they will. Just think about your consumers, where do their loyalties lie, and would they sign up?
Does your company have a loyalty program? If not, what are you waiting for?
Contact us to help you craft your next loyalty program.
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