Once you’ve launched your loyalty program, there is nothing more satisfying than watching both your customer base and your customer lifetime value grow. But as you start adding more and more elements to your program, you may find there are more cost-effective ways to operate. Let’s talk through the top five signs that it’s time to upgrade your program with LoyaltyLion.
With more and more customers starting to shop with their hearts rather than their heads, it’s more important than ever to ensure that your loyalty program is helping you to communicate what you stand for as a brand. That might be ensuring that customers can earn points for recycling your products or packaging or allowing members to redeem rewards in the form of charitable donations.
Our first telltale sign that you may need to upgrade your LoyaltyLion plan, is that you’re starting to build out more and more custom point and reward rules.
If your loyalty program engagement is starting to have a positive impact on your customer spend and purchase frequency, then you will want to double down on that progress. One surefire way to do this is to ensure that members can engage with your loyalty program at more points of the customer journey – not just via on-site notifications, or when customers visit your loyalty program page.
For example, giving shoppers the ability to seamlessly redeem points for products that are added to their carts automatically, without them having to navigate away from the page that they’re on. Our second telltale sign is that you’re looking for more ways to provide seamless customer experiences across your store.
We know that loyalty program members have a higher lifetime value than non-members. However, even loyalty program members are not necessarily created equal. You may already have a good steer on how your program is impacting customer lifetime value.
However, by digging just a little deeper you can understand even more about the value of your customers and their repeat purchase rates, and use that information to help you prioritize the customer segments that are going to deliver the highest marketing returns. Our third telltale sign is that you’re looking for more insights to help you make decisions.
Your points and rewards strategy is likely already making your customers feel special, but as you get better at identifying which customers are the most valuable to your store, you might also be looking for even more ways to give them a VIP experience. Loyalty program tiers can be an extremely effective way to achieve this – as customers collect more points they climb through the tiers, unlocking more experiential and special rewards. For example, someone in a higher tier might unlock early access to new products.
You might even consider an aspirational VIP tier, containing further exclusive benefits that standard program members cannot access. Our fourth telltale sign that you may need to upgrade to a LoyaltyLion plan, is that you want to prove to the customers that you know are most valuable, that they are your VIPs.
As your loyalty program starts to become more effective, you may start to think about how it could also add success to other marketing streams. Whether that’s incorporating loyalty information into your email strategy to make comms more personalized, or syncing up LoyaltyLion and your reviews provider to better incentivize customers to act as advocates. Your loyalty program can be an extremely effective way to power up and connect other marketing tools and technologies.
Our fifth and final telltale sign that you may need to upgrade your LoyaltyLion plan is that you’re starting to consider how your loyalty program might integrate with your other tactics.
If any of these telltale signs sound familiar, or you find that you are continually adding enhancements to your loyalty program, then the chances are you might be ready to explore one of our LoyaltyLion plans. Our team are on hand to advise on the features that would be most relevant to your store – just schedule a time to chat that works for you.
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