Three Ways to Keep the Reward in Your Customer Loyalty Programs
When you think of loyalty, do you think of your partner, or perhaps your furry friend? You think of how great a companion he, she, or they are and how easy your relationship is. You don’t have to worry about any complicated rules attached to them being loyal to you; instead, they just are. So why, when we think of loyalty, do we start to blur the lines for loyalty programs?
When we think of loyalty programs for customers, all of a sudden we think of crazy hoops they need to jump through and rules they need to abide by…which is odd considering that this is a program rewarding customers for being loyal to us. Their proactive choice to become a part of the loyalty program, coupled with the fact that they are shopping at our stores on a regular basis, should be celebrated by us instead of being a game in which we only reward certain things the customers do.
It’s time to implement loyalty programs that leave loyal customers happy, not frustrated. Use these steps to help increase your loyalty program retention rates:
- Make sign-up easy. Only take the information you absolutely need. You can provide consumers options later to fill out a more robust profile, but to begin with, you want to get whatever information you need to simply create a profile for them. If it’s easy to sign up, you can reduce time at the check-out line, increase membership numbers, and make your employees lives easier
- Set up rewards for different loyalty levels. People love when they reach a new loyalty level that they feel is exclusive. Have certain point thresholds that customers can work towards in order to gain certain rewards or levels that gives them access to early promotions, discount codes, or whatever your customers would prefer. Remember though, keep it simple: Although you may have different points for different products, special reward days, etc.; keep the ways to accumulate points easy for customers to understand. That means you shouldn’t have hundreds of ways to accumulate points, but a few different ways that have different values associated with them.
- Use your data! Your loyalty program should be a way for you to collect customer data and use it. Find out what makes your most loyal customers buy and what your least loyal customers shopping habits look like so you can determine ways you can improve them. You can also use the data to understand the lifetime value of a customer and understand what it truly means for your bottom line to have loyal customers.
Loyalty has it perks. Make sure your customers can easily feel that their loyalty is appreciated. Want an easy loyalty program that is integrated with your POS, ERP, and more? Talk to ArcherPoint about LS Retail.