If your loyalty program doesn’t add value, your customers aren’t benefitting from it.
How can you add value?
We’ve come up with the top ways you can ensure you’re adding value to your customers with your loyalty program:
When thinking about your loyalty program and the value it brings, you should spend as much time as possible asking, rather than assuming. This means talk to the people involved in your loyalty program, listen to what they think about it.
Asking your customers for feedback is beneficial in making sure you’re always providing what they need.
Another way to see if your loyalty program is adding value is to compare what rewards you’re offering with the rewards people are choosing or winning.
Perhaps you’ll find your loyalty program makes it too difficult for customers to attain certain rewards. Or, perhaps you’ll find that customers are gravitating more towards one type of reward than another.
This data is key to understanding whether or not you’re adding value. Once you have the data, you can use it to make informed, rather than assumed decisions.
When customers join your loyalty program, reward their initial loyalty. Most loyalty programs do this, but they often don’t put as much effort into encouraging customers to continue spending.
Your customers are likely to forget the loyalty program even exists if you don’t find unobtrusive ways of reminding them about the rewards and upgrades they can claim.
You can reward all sort of activity, not just monetary and in doing so you’ll keep the attention of far more of your customer base.
Companies like Amazon who charge a one-off fee for upgraded services are changing the game for loyalty programs. This method is only effective if you’re able to organise the logistics of the program to ensure that all your promises are met.
To see if your loyalty program is adding true value to your customers, you need to go straight to the source to see how they feel about the program you have in place.
You need to reward customers for initially joining your program, with monetary and other kinds of rewards.
You need to be creative and innovative to make your program stand out from the crowd.
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