The 13 Most Successful Customer Rewards Programs
You want to thank your loyal customers for their support and keep them around longer; Then you need to include customer loyalty programs in your strategy. You may be wondering what it is, how do they work, which one suits you. Keep reading because you will find what you learn very interesting and you can apply. What are customer loyalty programs?; Customer reward programs(or customer loyalty or loyalty programs)-as you might already know from the name- they're about rewarding your customers for staying and staying with your business. It is a powerful tool that can turn ordinary customers into dedicated and loyal customers, strengthen your bonds with them and of course increase your sales as these customers will come back to you again and again. There are different programs you can put in place depending on what suits your business. How to choose the best customer loyalty programs: Initially, let's see some simple practices for choosing the best customer reward programs or loyalty program rewards as it is called in English. Provide value to your customers Your customers must be motivated to participate in your loyalty program, so choose rewards that will pique their interest and want to enjoy. The choice of rewards should be aligned with their regular shopping habits. Your reward with additional products, it's a smart choice. For example, if you have a coffee shop, a free coffee for each 6 coffees that your customer will have already bought, it can serve as a reward for liking you. This can be done through a card where a mark will be inserted every time he buys coffee or with an application with an NFC system. Consider personalizing the rewards you offer each customer based on their shopping needs and preferences. Make your customer feel unique Show the customer the special place they hold for you because of their loyalty. For example, you could offer discounts on your products, credits towards his next purchase, free products, free shipping or exclusive access to discounts as a reward. Caution! It shouldn't be difficult for the customer to earn the reward. Consider activating some items as soon as he signs up, to activate his motivation. also, make a separation of VIP customers. These may be those who make bulk purchases from you or spend large sums. Consider giving them exclusive products or access to special events and experiences. Make sure rewards are enticing for customers and cost-effective for you. The financial return your rewards program will have for your business will depend on how you structure your loyalty program. For example, how many purchases it takes for the customer to earn a certain reward; You will be rewarded for every purchase; Keep a balance. Now, let's see what rewards programs you can follow, bearing in mind all the above. These programs are the most popular and customers love them. Customer Reward Programs 1. Free products If not the most popular, definitely one of the most popular customer programs. These programs work very well in food and beauty areas, as well as in other industries where the smaller, more frequent purchases are the norm. Who doesn't love free stuff; And when the free item is his favorite sandwich, drink or other product; Such programs give additional incentives to already loyal customers who not only buy but enthusiastically share their experience in their circle. This means potentially other potential customers for you. These programs usually work by pooling points that the customer collects and can redeem for free products. Points are easy to redeem for online purchases or through apps. You may have noticed this yourself when shopping at online pharmacies or food ordering platforms. 2. Cash Back or Credits Cash back and credits are also popular rewards(usually, loyalty programs treat these two rewards almost identically). For each specific amount spent by the customer, gets credits for refund or use of these credits in the next purchase. The classic you may have seen: "For every €200 you spend, earn €10 cashback/credit". 3. Discounts Valuable discounts on your products or services will motivate your customers to keep coming back to your business. The trick, however, is to limit your publicly available discounts and give the privilege of better discounts to your program members. also, consider sending personalized discount coupons for the products and product categories that each customer tends to buy the most. We've said it before, customers love this personalized approach, especially when you mention them by name! 4. Birthday Gifts/Surprises Giving your customers a gift on their birthday is a great way to make them feel appreciated and cared for. For you, on the other hand, having the customer share their birthday with you is a valuable demographic. Sometimes these birthday surprises are free products, discounts or instant cash back. Choose what works best for your brand. Also keep the birthday present as a surprise, where customers only find out what it is when they receive it. Read also: How to Make Business Cards a Powerful Marketing Tool 5. Exclusivity in products and services / Exclusive benefits Some customer loyalty programs give their members access to exclusive benefits. Usually these members receive e-mails or other notifications about the particular benefits, therefore they are the only ones who can benefit from this confidential information. In other cases (as with Amazon Prime Day), everyone can find out about the discounts available to members of the loyalty program, but only members can…