Loyalty programs are practically dripping off the trees these days, there’s so many options and so many variables.
Before we get into what makes a good one, let’s establish why you might be looking for a loyalty program:
• You want to increase customer retention.
• You want to target your marketing more effectively
• You want an advantage over your competitors
• You want more repeat business and increased customer spending
These are important outcomes, and whatever you invest in should be evaluated on it’s ability to deliver. As you investigate options here are the important components to consider:
A good loyalty program should be simple and easy to understand for you, your staff and your customers. It should not add unnecessary complexity to daily operations or overwhelm your already busy day. Choose a program that provides what you need, with clear guidelines and benefits, and is comprehensive enough to give you the results you want.
All loyalty programs will require you to sign up members and capture their transactions, that is the key to the success of any program you choose. But an email or text list is simply not enough, you need to be building a comprehensive customer database so you can communicate with your customers by as many methods as possible, and to create an important asset that makes your business more valuable if you decide to sell.
You have enough on you plate, so it’s crucial to choose a loyalty program that doesn’t burden you with additional responsibilities. Once you and your staff are signing up all your customers and capturing their transactions, the rest of the system needs to be automated so that it handles your marketing automatically, tracks customer purchases, issues points and rewards as promised and measures all your marketing.
You want to have access to customer support so that they can make changes, modify offers or create additional revenue generating marketing for you with a simple phone call or email.
Collect relevant data about your customers’ purchase history, spending and important dates, and use this information to provide personalized rewards and offers. Merge the use of their name in all your marketing – customers are more likely to engage with a loyalty program that feels customized to them.
Be able to segment your customers based on the money they spend with you so you can influence top spenders to spend more, and less frequent customers to come more often. You want a process built in that identifies a customer as getting lost and incentivize them to return more often. At Royalty Rewards® we call this the Profit Pyramid; our marketing campaigns focus on moving people up the pyramid.
Incorporate occasional surprise rewards or gifts for loyal customers to show appreciation. This element of delight adds excitement and reinforces the positive feelings associated with the loyalty program and the overall customer experience.
As with any new system, it’s crucial to train and educate your staff about its features, benefits and implementation. Your chosen loyalty program should provide you with the necessary tools and resources to effectively train your staff and monitor their progress. Engaged and informed employees will play a significant role in encouraging customer participation and loyalty. It should also provide material to promote the program to customers so that they are excited to join.
Not only will Royalty Rewards® increase your customer retention, grow your sales and profits and give you measurable results on all of your marketing, it will increase your positive online reviews and get you new customers. You will not find a more comprehensive program that generates results. Book a call and get a 90 Day Free Trial of Royalty Rewards® (valued at $5,103!).
