It’s also important to know how they work before you decide to start one that will make your business or brand popular and credible. Basically, these programmes gather customer or consumer information, and each of them would get an ID, card or login details to track their own buying or spending habits. These members in a loyalty programme would get rewards and that would be based on exactly how a particular programme is built. Most of the loyalty programmes are set up to encourage people to come back.
Sales Boost through Loyalty Programmes
No matter what your industry is, implementing a robust and effective loyalty programme can definitely assist you in attracting potential customers, repeated business transactions, and boosting sales. Here are three ways you can break down a well-designed loyalty programme or frequent visitor programme to increase sales:
1. Reward Customer Referrals: Word-of-mouth referral, which is the oldest form of marketing still works in today’s ultra-modern world. When your current consumers or customers refer someone or a friend to your business operation site, they are actually helping you gain a new customer as well as guaranteeing for the services and products you are offering. Earlier, these referrals happened though phone or face-to-face conversations, but now, a lot of referrals take place digitally including emails and social media sharing.
Surprisingly, 24.63 percent of online referrals come from social media giant Facebook. Simple rewards like offering Free Welcome Drink to customers at the “checking in” time in restaurants can spread the word like wildfire on Facebook. This won’t affect your bottom line much and this can create the perfect buzz especially if you are new in the business. Then, you can also consider adding loyalty points to the accounts of people who have referred others to visit your outlet for the very first time.
2. Ensure that Rewards Are Valuable: It is important that your loyalty programme is valuable for customers so that they can happily use it. If you don’t, they would end up spending their money on your competitors who have better or more meaningful loyalty programmes. While planning the rewards you would offer to customers considering what your`1 customers value most is vital in making your loyalty programme a grand success.
3. Create a Straightforward Loyalty Programme: Customers can get really frustrated when earning loyalty points become difficult or when these points expire before they are redeemed. It is seen that some customers won’t even join a loyalty programme if they fail to understand a programme adequately. Simple points system such as giving customers one point for every dollar or euro spent on your enterprise and allowing them to redeem 100 points once they have 150 points in their accounts during the next purchase can be great for retaining customers. Just keep the process short and simple so that customers can actually see their reward points growing for future use.
Let Your Loyalty Programme Help You Reap Big Rewards
The success of a loyalty and reward programme greatly depends on ensuring that your customers feel valued every time they visit your business. Remember that people won’t visit a business often if they don’t feel valued or if the business doesn’t care about customers revisiting and supporting them. Your bottom line would reach greater heights if you follow the tips mentioned above. A specially tailored rewards programme can be your best marketing and branding tool for your business.