Your loyalty program is not working. Here's how you can change that

Your loyalty program is not working. Here's how you can change that

Aug 01, 2018
Loyalty program has increased in popularity over the years and a well-executed loyalty program can do wonders for a brand. 87% of consumers say that a company that has a good loyalty program tends to have a higher customer retention.

Getting Powered by RUSH

But a few slip-ups can land you in your customers’ bad side. A whopping 33% of people have switched brands because they had an appealing loyalty program. You don’t want to hassle them by having them carry your loyalty card. You also shouldn’t come up with rewards that are difficult to redeem or a complicated system for gathering points. It’s as if you don’t want to give anything away.

Similarly, your rewards should be interesting enough for them to go through all the trouble of signing up and diligently monitoring their accumulated points. If by any chance you’re guilty of any of these, you might want to reassess your existing program because there’s no point of having one if it bears little to no value to your customers at all.

The key to a successful loyalty program is to keep it engaging. Here are some pointers to do that:

Experience is everything. An effective loyalty program goes beyond points or rewards after transactions. Gone are the days when customers avail loyalty only because of rewards. They are now seeking more from brands since there are a lot of options in the market that can always provide a better service to them.

Image Source

To provide people the full experience of the loyalty you can offer, make them feel that you value every transaction they make through digital activations. According to Collinson Latitude 85% of loyalty program members prefer interacting with their favorite loyalty programs online. Which is why making noise online like doing viral videos, posting content, and photos is a crucial marketing strategy. Also, it’ll be easier for them to contact or provide feedback to you.  

Use the data. By taking your loyalty program to digital, it will be easier to obtain useful data from your clients. You’ll be able to learn basic information from them which can help you determine their buying behavior and craft a strategic marketing strategy that can foster growth. The use of analytics also helps monitor each sector of the business. And these data can be used to assess accurate reports on how the company is doing overall.