Is it more affordable to get new customers or retain your existing one? Usually it’s the latter, but you have to put in a real amount of effort. When you do, the benefits are tremendous. How do you get your customers to buy from you again? Quality products and customer satisfaction are definitely some aspects of it. Building customer loyalty involves more, and an integral part of this is to have a reward program in place.
Does this seem like more work to you? Actually, it isn’t as long as you go with a top-notch solution provider? There are so many companies out there that offer a reward management system based on the cloud for easy access from anywhere and any place. You can use easily use solutions of these sorts. But while at it, you’ll have to indentify your best customers, your second best ones, and so on. Accordingly, you can provide them with enticing offers and deals, and let them exchange their rewards for merchandise, travel, hotel, entertainment, phone credit or simply anything that they want.
What benefits do you get from a rewards program?
Before going any further, let’s go through some benefits which you can derive from a rewards program. If your reward program is appealing, your offers are exciting and the process is simple for your customers, you can encourage your current clients to purchase more from you.
A rewards management program is powerful enough to bring back your old customers as well those who moved to other brands.
Which features should an effective and trendy reward program have?
- The program should give you an insight into the spending habits of your customers; you can then use this information for developing future marketing campaigns.
- The system should allow customers to manage their rewards through a mobile app for convenience and simplicity. If you can provide them with other options such as card- or email-based management, it would be good. However, app-based access has become essential these days.
- Your customers should be able to earn points through a variety of means. Most companies only offer a fixed number of points when their customers spend a dollar. However, you should take this a step further and offer points for check-ins and shares on various social media channels. You can also give points if your customers refer you to someone, or if it’s their birthday.
- Divide your customers into various classes based on how ‘loyal’ they are and then award each class different points for any action they take. So for instance, you should be awarding your most loyal customers more points when they make a purchase than someone who has bought from you only once or twice.
- Give your customers thousands of choices to spend their points on, and let them redeem them in several ways. You can also offer your customers the option to exchange their points through cash-back offers in multiple currencies.
- Show your customer their status and let them know how loyal they are compared to the rest of your customers.