05 Oct 2018
What's your customer loyalty program strategy?
Where do you start with a customer loyalty program? How do you know when your business is ready for a customer loyalty program? What incentives or rewards work best for a customer loyalty rewards program?
All these are questions that many businesses face when looking at launching a customer loyalty program.
It has been proven time and time again the significant upside to investing time and effort in a customer loyalty program. As humans, we like to be acknowledged and rewarded, we like to experience a 2-way relationship with a brand and feel like more than a customer number to a business.
These basics apply to all businesses no matter what size and shape, in orders to create loyalty and brand champions. Customer loyal programs can also assist with things like;
- Retention of customers
- Positive word of mouth for your brand
- Increase in sales with reward offers by adding value to their purchases
- Building new relationships
- Increasing the value and lifetime of current customers
- Providing a market research panel of regular customers
All these elements are highly desired outcomes for businesses and absolutely key in an ever-changing business landscape.
It is also important to keep in mind that customer loyalty programs can be cost effective for a business and most of the time can cost less than acquiring new customers. Creating a program to set and forget is also not the strongest approach, you must ensure to always be reviewing your customer base and checking that the rewards being offered are still appealing to the set of current users or customers.
Digital Gift Cards from Prezzee, corporate gift card provider are a great option for customer loyalty programs as they allow the customer to use them when and where suits them.
By investing in and building upon a relationship with customers creates engagement assisting in providing an honest and authentic relationship to keep your brand top of mind when the customer is looking for a product or service.
Learn more about Prezzee Business