A well structured, engaging and exciting loyalty program will make a big difference at the way you drive customer engagement and the overall customer experience you provide. Increasing your customer loyalty is mainly up to you and you know how to do it better than anyone else!
Loyalty programs are a very useful tool to help you get there and here are 4 ways they can instantly add value:
#1 they encourage repeat purchase
People love to be recognised and they love to be rewarded. They also like free stuff. So it’s as simple as that: if you can recognise your customer (by their name or their buying habits) when they come into your store and if you can also reward them for being loyal to your brand, you are actually giving them a very good reason to keep coming back to you, aren’t you?
#2 they differentiate you from competition
How do you stand out from the crowd today? What makes you different than your competitors? Why should someone purchase something from you instead of the store next door?
A competitor can match your prices. They can even match your discounts. But it’s extremely hard for them to match your loyalty program, because with your loyalty program you are providing a unique customer experience that can’t be copied.
#3 they help you understand your end customers
The best in class loyalty programs are all about helping businesses understand their customers and then utilizing this insight to deliver a fantastic customer experience which then leads to incremental sales.
By implementing a loyalty program you will establish a solid process to acquire and manage quality data,you will be able to utilize extended industry knowledge on interpreting data to business knowledge and , with the right vendor, you will use state of the art technology to analyze data, run targeted campaigns and monitor results.
#4 they create a word of mouth effect
Your end customers are people and people talk about their experiences with each other.
Your loyalty program incentives are going to be making the rounds before you know it. People will be talking about their experiences and sharing it all over social media. You are giving them one more good reason to talk about you, your products and your services!
The issue of loyalty is becoming more and more important to retailers. Businesses that have developed a mechanism to understand their customers are already enjoying the main benefits of a loyalty program and are one step ahead. Right now they are engaging into conversations with their end customers and they are communicating with them, without their competitors finding out.
A “best in class” customer loyalty program can become your main sales and marketing tool.
