Have you ever thought of customer rewards loyalty program as a medium for increasing sales of your company? If your answer is NO then, you must not be aware of such a program’s potential in the growth of your business. A loyalty program offers quicker follow-up time and rewards your targeted customers for various interactions they have on your site.
This article explains how you can raise the sales of your company with the help of proper customer rewards loyalty program in place. They are as follows:
Get creative with the name of the loyalty program
“What’s in the name?”, Shakespeare once had asked. But there is so much in the name when it comes to the branding strategy of your business.
Rewards programs usually follow common suit of names like “loyalty program” or “Rewards”. However, take a look at the names of reward programs of some of these renowned brands- brand MAC has recently launched a reward program titled “MAC Select”, National’s reward program is termed as “Emerald Club”, and Pet Supplies Plus has the name “Preferred Pet Club”.
What do you observe from these names? These names represent the respective brand’s distinct identity. They are simple yet exclusive.
Thus, you must understand that your loyalty program’s name can make a difference for your brand identity. It has the potential to invoke curiosity among your customers as it instills fun or quirkiness into the program.
Let customers earn without spending
You can reward customers when they make any purchase, but there is an issue with that- customers or shoppers may feel that they are being used for their own money. There is a slight feeling of deception in that which might hamper the intention of your reward program.
However, do not hold yourself back from offering customers some rewards without making them spend anything. For instance, you can consider offering them brownie points if they consume any of your content, maybe a blog post or a related video. Also, on referring and sharing your pages with their friends, offer them exciting rewards.
Reward actions linked to your community
Loyalty programs are excellent ways to connect with your loyal customers and build a community.
If you become successful in forming a community of people who believe in and support a common cause, it would help you create a long-lasting impact. For instance, if your community supports environmental causes, you can create content and reward your community for consuming and sharing it. For example, Office Depot provides rewards to those customers who practice recycling.
Encourage personalized communication
Personalized communication is a great way to maintain individual customer profiles. You can utilize these profiles to keep track of customer’s unique interests.
But how would you use a loyalty program to build customer profiles? You can ask customers to complete their profiles by filling in the information related to their interests, and you offer them incentives in return.
With the information you get, create segmented lists based on diverse customer interests and send targeted emails/offerings to customers with common interests. It will boost your communication with customers and make it more relevant.
Following are three options by which you can develop a loyalty program for your brand:
1. Build a team: If you are looking forward to developing a unique loyalty program for your business, then you can start building a dedicated team for that purpose. However, it’s quite an expensive option. Also, it requires a great amount of time for research, developing, and testing.
2. Employ an agency: If you want to save your time to focus on core business activities, you can opt for a dedicated agency that will help you develop a reward program. However, this option can also be expensive.
3. Get a loyalty application: If you intend to save both your valuable time and monetary resources, you need to consider an app that is already built and runs automatically. You can also avail custom developments based on your business model with the help of this app.
Key reminders:
- Your loyalty program is relevant to your goals and the customers.
Let’s consider an example of the balance rewards program of an omnichannel brand, Walgreens. It offers rewards to the customers who take actions to lead and track a healthy lifestyle.
- It is visible on your websites to all the new visitors
- You are keeping regular track of all the customer activity in the loyalty program.
Conclusion
A reward program offers various points, stars or miles for a host of actions and not just purchase-only rewards. It is targeted to grasp customer attention in the longer run. By rewarding through a loyalty program to all your medium frequency buyers, you appreciate their consistency with you and add value to their shopping experiences with your brand.
