Having great products and services isn’t always enough to retain customers nowadays, pushing brands to think up more ways to reward their consumer base and retain regular sales.
Loyalty programmes are perfect ways to benefit both sides of the transaction – customers earn rewards and businesses benefit from extra sales or additional leads.
But how best to pay something back to your customers, and how easy are loyalty schemes to create? Read on for more information…
Pick the right reward
Your loyalty scheme might result in your customers getting money off their purchase, access to limited-edition lines, or other bonuses. There are many ways to structure such a programme:
- Earn and burn: A concept so many consumers are familiar with. For every purchase made, the customer earns points which can be accrued and then converted into rewards, in the form of vouchers or other benefits. Most retail reward schemes take this form.
- Tiered schemes: Customers are able to unlock different levels of benefits depending on how much money they part with, encouraging greater spends and repeat custom. This category has become popular in the world of content creation, with platforms like Patreon giving artists a chance to sell directly to fans.
- Members’ clubs: By paying a fee or submitting data, customers are given first-look access to new product lines or events. Examples include music venues and theatres offering pre-sale opportunities to buy tickets to their members.
Find the right platform
If you need a more bespoke solution, in the form of a loyalty program app or plug-in, services such as LoyaltyLion are experts in the ideation and creation of reward schemes that will keep customers coming through your doors or on your site for longer.
The best part is that with all the heavy lifting taken care of, you have more time on your hands to develop your next great product and spread the word…
That’s right – once your loyalty scheme is off the ground, make sure people know about it. This will not only attract new customers but can be an effective method of enticing return custom from those you have previously dealt with.
If you have a great idea of how to reward your customers, why not set the wheels in motion and develop a loyalty scheme today!