Customer is king! This old saying still holds correct in today’s market scenario. Every business must ensure that their customers get streamlined & personalized experiences, which is essential for the success of the organization. Rather than just focusing on gaining a new customer base, we must keep the focus on retaining the old ones too. There are thousands of loyalty solution providers, but only a few of them can build customized loyalty software solutions aligned with unique business strategies. Without wasting any further time, let’s explore the most effective tips to help your business build the most successful loyalty program.
How to Build Loyalty Program That Works For Your Business Growth?
One of the most common loyalty programs is a reward points system that enables customers to earn points through sales or some actions on the store. The earned points are then redeemed by customers for a reward encouraging them to make repeat purchases. Some of the ways that can help customers earn points are registering on the rewards program, first purchase, anniversary/birthday bonus, spread the word through social media, etc.
Though many organizations are using loyalty programs to win customers’ hearts, most of them fail as they lack offering valuable experiences. Here are some of the best strategies to build a successful customer loyalty program-
Personalized Rewards
The study says the custom reward programs tailored to customers’ needs are 58% more likely to encourage shoppers to complete checkout. Giving your customers what they want is the key secret to drive sales rate in your business. Whether it’s discount on shortlisted products, exclusive free items not available on store, coupon codes on occasions, free delivery, and many more, your business must focus on providing what your customers are looking for.
Easy Redemption
One of the main issues that hold back customers from using your rewards program is the challenging & complex redemption process. Your loyalty program must focus on enabling users to use points only and points plus any other form of payment to purchase a product, gift voucher, recharge & more. Creating a seamless redemption process with easy check-out is the best you can offer to customers. You can also allow them to use a discount coupon code while they pay using points.
Engage Customers with Bonus Points
Another way to run a sale on your business store without giving a discount on your products’ prices is to offer bonus points enticing them to purchase more. Some of the best examples to engage them are giving extra 50 points every Tuesday, triple the points earning on black Friday sale, offer 5 points for every $1 spent, etc.
Support Multiple Platforms
Though there are many benefits of using a loyalty program apart from customer retention and acquisition, your business builds a loyalty program that helps you stand out amongst your competition. Having a reward program that is easily accessible on a wide range of platforms can help in keeping your customers connected by creating an Omni-channel experience through multiple channel programs.
Closing Statement
Not just big brands, many startups & mid-scale businesses are focusing on customer retention through the help of loyalty programs. If you are thinking to add a loyalty program for your business, ensure that you go through the tips stated above & build the program that caters to all the needs of your business. Offer what your customers need and appreciate them with the best loyalty offerings exclusively meant for them. Apart from basic loyalty points software that offers reward points for purchase, there are many types of programs available today such as gift vouchers, special offers, free products, etc. Talk with our expert developers to reward & delight customers with the best loyalty program.