With the age of technology, the way loyalty programs have been viewed and interacted with has shifted dramatically. Loyalty programs are no longer a simple punch card that customers can use every time the make a purchase. Smartphones and other new technologies have forced Loyalty programs to change but the significance of having a good loyalty program has not diminished. Businesses should focus much of their energy on creating and developing their loyalty programs to tap into their current customer base and encourage new customers to join.
In the United States, about forty percent of customers that purchase from a business are repeat customers. It is also much more difficult to recruit a new customer to be loyal to your brand than it is to keep your loyal customers satisfied. Of course, every business wants to have a balance between the two: earning new customers and keeping your loyal customers satisfied. There are a number of ways you can start creating a good loyalty program for your customers.
Point System
An initial way to create a good loyalty program is to start with a basic point system. A point could equal two dollars each. After a certain amount of points, customers could then redeem the points to buy products or other services that the business offers.
Make It Mobile
Arguably the most important aspect of a good loyalty program is to make it mobile accessible. Amazon is one company that has shown the way e-commerce sites and accessibility can make or break a business. Over half of consumers interact with businesses through their mobile devices. Create a loyalty program where customers can check their status on their rewards, redeem points, and remain updated on new deals for loyalty program members.
Give Them Tools
Your loyal customers should be viewed as people who can help you reach new markets and help increase your sales. Loyal customers who are satisfied with your brand will spread the word about your business to their family and friends. Give your loyal customers the tools necessary to promote your brand organically. The ability to share news and discounts with other potential customers is a great way to incentive your customers to spread the word about your business!