How to Improve Your Loyalty Program
What keeps customers engaged? With the average household belonging to at least 12 loyalty programs, lacking a solid customer loyalty program is a surefire way to have your customers go elsewhere. Not to fear! Out-engaging the competition could be closer than you think. Just follow the steps below.
Before you undertake any customer loyalty efforts, you need to take a serious look at what your business's current strategy is and how effective it is. Ask questions like: Are we using the right technology? Is our current strategy measurable? Do our customers openly discuss our programs on social media and elsewhere? Once you have started answering some of these questions, you will be well-equipped to make some strategic changes.
If your business is still exclusively using a punch card to track loyalty activity, you are missing out on an invaluable amount of data that can be leveraged to engage your customers. A recent study found that 80% of customers used a mobile device inside physical stores to either look up product reviews or research prices. As marketers, we need to leverage that smartphone usage with a mobile loyalty experience that brings actionable data back to the business.
Experience Experiential Rewards
We already know that cash is not king when it comes to employee loyalty. The same rings true for customer loyalty. In a recent survey, travel customers responded that "breadth of products and services" and "improving the customer experience" were their top motivators when it came to loyalty. Offering a wide array of experiential rewards in addition to merchandise and gift cards is the best way to attract and retain good customers.
The last thing a customer wants to feel is that a product or service they purchased was not intended for them. 74% of customers are "annoyed" by non-personalized content. The messaging in your loyalty program needs to concisely and accurately address their needs, wants, and personality. Leveraging data you have collected to display targeted messaging is vital in these efforts.
It's All in the Game
One way to engage your customers is through fun, interactive games that demonstrate the value of your products. Let your customers spin a wheel to win additional rewards, implement fun product knowledge challenges, or add contests to your program that will keep your customers engaged.
At the end of the day, one of the best steps you can take when creating or revamping a customer loyalty program, is choosing the right strategic partner. Your business needs a vendor that can assess what you are currently doing, understand your customers' wants and needs, and provide a clearly attainable technology solution. Online Rewards' wide range of experience and diverse set of services makes us an ideal fit for many organizations.
Achieving customer loyalty is closer than you think. Taking a look at your current practices is a vital first step. Ensuring your business utilizes mobile technology is extremely important. Provide tangible experiences and rewards to your customers to keep them engaged. Personalization is one of the single most important challenges your program needs to solve. Encourage loyalty with fun games and challenges! Finally, and, perhaps most importantly, make sure you choose the right partner for any strategy and technology needs.