Integrate a turnkey loyalty program and keep customers coming back.
Loyalty programs, also known as rewards programs, offer customers incentives to continue shopping or using services of a business. By implementing an effective loyalty program, a business can optimize its existing customer base and attract new customers. Credit card rewards programs treat cardholders to perks for paying their bills on time. Some of the rewards are frequent flyer miles, cash back and annual fee reduction.
Systematic approaches to customer loyalty have succeeded the early punch card models. Referral programs are popular. They offer customers special discounts, like a percentage off their next purchase, when they introduce new buyers. Memberships are another practical way of building customer loyalty. Businesses can offer deals to customers who buy subscriptions, like a first-period discount, free shipping and access to member-only sales. Other models include:
A deal for one customer means a profit cut for the business, thus making high-volume offer redemption necessary to build revenue. Advertising is therefore a major element of any loyalty program. Social media networks like Facebook, Instagram and Twitter are lucrative platforms for promotion. Customers advertise when they tag or check in at a business and also learn about discounts, offers and changes by simply scrolling their news feeds.
Similarly, text marketing puts promotions directly into the customer’s hands. Customers give permission, usually by checking a box when they buy something or create an account, for the business to send them text messages about discounts, coupons, special events, promotions and other information. This kind of mobile marketing is the most direct, efficient way to communicate with a large pool of customers.
Loyalty software is the key to managing reward programs efficiently. It can track customer spending habits and manage eligibility for rewards, even if the reward system changes over time. It can also facilitate customer relationship management (CRM) solutions, automated email and text marketing, sales analytics and templates for discounts. Loyalty programs lead to heightened brand awareness and site traffic, both online and in store—and, with the right software, they don’t have to cost you extra employee time and resources to manage.