It has been estimated that the average consumer has 14.1 Loyalty Programs and, their value is increasing with the recession. “Good Customer Service” is deemed to be the single more important to encourage more spending.
A loyalty program is a framework of offers and incentives to keep customers thinking about a brand, and returning more regularly to make more purchases.
Secrets to a Good Loyalty Program!
- Make your loyalty program easy to achieve or it will not be a success. When your product helps your members with their goals or challenges, they’ll buy more from you. Consumers are looking for convenience, and the quicker and easier they can get their hands on what they need, the better.
- It’s important that you position your product as a key “ingredient” in reaching their goals.
- Make your loyalty program relevant ~ it is not a free coffee if you are a spa,
- Active loyalty members are usually one of these demographics: women, young, living with children ~ does this sound like your target market?
This doesn’t mean that you will be giving only discounts to your best customers or exclusively to these demographics. A great loyalty program shows your clients that you appreciate their business and the more they use your business, the more they reward they will get.
Keep your customers
Customer retention is vital in terms of getting the most out of your marketing budget. That’s because keeping a customer costs 3-10 times less than trying to get a new customer. The exact number depends on the industry you’re in, but in any case, it illustrates perfectly why customer retention is so important, and improving customer retention is usually the reason companies choose to build a loyalty program in the first place.
Start your loyalty program today.