10 Tips for Setting up an Effective
Customer Loyalty Strategy
Customer loyalty is a big part of growing your business. You want to have a solid base of people that you know will keep coming back and recommend your brand to others. Building this customer loyalty takes time and needs a sound strategy to succeed. Here are 10 tips for setting up an effective customer loyalty strategy.
1. Create an Enticing Rewards Program
To attract customers, you need to have an exciting and exclusive rewards program that offers discounts and other incentives that other customers won’t get.
If you are a coffee shop, then the loyalty card that offers a free drink if you buy 4 or 5 means it’s something your customers will want.
Over 75% of customers favor companies that offer rewards, so make sure yours is worthwhile.
2. Make the Rewards Easy to Obtain
If you make the rewards program too hard to use, then customers will stop using it. Although you can have some perks that are harder to earn, you want to keep some that are easy.
You also want to keep any rules easy to understand so that customers don’t get confused.
3. Make Every Action Lead to a Reward
Many companies only reward a customer if they make a purchase. Although that is what you ultimately want, you also need to offer more perks for the little things.
You can set a reward if they sign up for your newsletter or if they like and share a social media post. This will keep your customers engaged with you and your company.
4. Try to Tailor the Rewards to the Customer
There are some perks that a customer won’t find interesting or useful. This can lead to some customers ignoring your loyalty program.
Try to tailor your rewards to people via their purchases. If they have bought a certain item, offer a discount on a matching item.
5. Give Customers Options for Using the Reward Program
Many customers don’t want to use physical reward cards anymore. You need to provide a digital alternative that customers can save to their mobile devices.
6. Seek Help to Create the Loyalty Program
If you are unsure how you can start a loyalty program, there are companies such as TCC Global that can help you create a loyalty program that will meet the needs of your customers.
7. Link Up with Other Brands
One way that you can entice customers is to offer rewards not just with your brand, but to others who have products or services that complement yours.
This type of relationship can prove productive for both companies.
8. Make the Reward Program Easy to Obtain
Consumers don’t have a lot of time, so they need a rewards program that is easy to sign up for. Make the application process as simple as possible so people don’t click away.
9. Create Multi-Buy Deals
If you have a range of a particular product, try adding a multi-buy option to entice your customers to buy more from the range.
10. Send Tailored Newsletters
Newsletters are still a popular way to tell customers about new products and services. You can also add a reward section with new offers and discounts.
Make sure they are tailored to the demographic of the newsletter recipient.
And there you have it – 10 tips for setting up an effective customer loyalty strategy. Reward programs are an excellent way to attract new customers as well as retain existing customers.