Before you launch a loyalty program, it is essential to understand your customer base and what kind of marketing strategy you want to implement. After all, sales metrics like average order size and lifetime value can vary widely depending on your target demographic. Work with your Salesforce Marketing Cloud partner to understand your customer base and construct the reach out plan. This will help lead you to the right loyalty plan for your business.
There are many types of loyalty programs, each with its benefits. Understanding these benefits is a great place to think about a program that works best for you.
The simplest and most common loyalty program, customer discounts, allows clients to earn cash or spend it on future purchases. By creating a customized value for your reward system, you will be able to offer discounts based on total purchases, specific products, or even individual items of the purchase. When you introduce deals to your loyalty program, be sure that the reward is commensurate with the value of the discount.
Rewards points can be a terrific way to encourage repeat customers and create positive brand loyalty. By allowing your customers to earn points for every dollar spent, you will enable them to become more familiar with your merchandise or service in an incremental fashion and work toward bigger and better rewards.
Like customer discount programs, loyalty discounts are benefits that work best for clients who regularly buy from your business. However, instead of offering a set percentage from each order, the customer can earn discounts on specific amounts on each purchase. These loyalty discounts are perfect for customers who often shop in larger quantities, as they can save up their savings to make larger purchases.
Another common type of loyalty program is customer referrals. This allows you to reward your customers for spreading the positive word about your business opening new doors to generate plenty of testimonials and new acquisitions. Customers who feel valued by a brand are more likely to become loyal customers. Offering a referral reward is an effortless way to show you appreciate your customer base and offer them something in return.
By making your loyalty program easy to track and reward clients for their achievements, you encourage them to continue shopping with your business. Whether they are looking for cashback or discounts, be sure that the process is simple.
Using tools like newsletters and social media platforms to keep your customers involved and up to date on your company's latest deals and products will help to increase the overall value of your client rewards program. Customers interested in a loyalty program are more likely to use it again because they like to be updated on new promotions, discounts, and other exciting opportunities.
An existing business that your clients are loyal to can be a valuable partner in promoting your loyalty program. Offering discounts for buying items through an intermediate company, like Groupon or Amazon, is a delightful way to encourage customers to expand their shopping beyond just your business.
Having an online portal that customers can sign up for your loyalty program makes it easy for them to join and make deals. It also helps you manage the process of recording, tracking, and statistics more efficiently.