If you don’t currently have a customer loyalty program, it might be because you think it’s too expensive — but that’s not always the case! If planned correctly, a good loyalty program will benefit the consumer and the company at hand, making it a win-win for all involved! So, how does one come up with the perfect loyalty program? We have some helpful tips to share below:
Define a “Loyal” Customer
This might seem easier said than done. You might have some customers that you love to see each week; the friendly ones that know how to put a smile on your face. Though they might seem like the most loyal of customers, they might not be the profitable ones.
Your loyalty program should also be based on the customers that are keeping your profits high, not just the ones that you enjoy. You can still reward those continually showing their support, but your system should benefit those who are spending a lot of money keeping you in business. Remember: the more they get back the more they will be likely to pay!
Make Sure it Benefits You
You’ll have to be sure there is a delicate balance on what you are giving vs. what the customer is spending. You want to be generous, but you’ll want to have a goal too. If you’re looking to increase visits or sales, then your reward has to encourage customers to do so.
If you want more frequent visits, then you can consider a punch card program. If you wish to raise your sales, then it would be best to consider discounts and coupons. Although these methods will help you reward your patrons (while not putting you in debt), they have different results — so you’ll need to know what one works best for you.
Make Them Desirable and Unique
Loyalty programs only work if your customers can see the benefits from them. You don’t want to make them ” jump through hoops” — but you do want them to be interested enough to reap the benefits at the end.
You can plan a reward system based on customer history so that it’s personalized to each unique patron. However, don’t forget to pay attention to what your competitors are doing — you want to be offering something more unique and desirable; something more enticing to your overall customer base!
Our team of professionals are here to help you create the perfect loyalty program for your business! If you have any questions about the services that we offer, do not hesitate to reach out by calling 818-703-0218. You can also visit our website to learn more about our media buying and planning services.