Getting More & More Customers Through Loyalty Programs
Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially of benefit to the firm. All components of the loyalty program should be clearly considered and vetted. Prepare a calendar of events and timetable to successfully complete the plan. There needs to be a philosophical change in the way your company views loyalty for your employees, vendors and customers. Depending on the sophistication of your program, you'll need to ensure that the proper systems are in place to effectively run your loyalty program. Market and launch your loyalty program: After putting the pieces together, it's time to promote and launch your program. One option you may want to consider is assigning a team to focus on specific action items to boost membership, such as a special sign-up day that promises incentives for instant enrollment. Once the program has launched, your customers will be curious about how the program works. It is your job to display and explain the program rules in a simple and concise message. Put your best offering forward as your customers will want to know exactly what the program offers them and why they should enroll.
Stats about loyalty programs
It’s 7-10 times more expensive to acquire new customers than it is to keep existing customers coming back.
Over 75% of consumers have at least one loyalty card
Repeat customers spend 33% more than new customers
Having an up-to-date and working customer database can double the value of your business
60% of consumers avoid advertising –
Shoppers are spoiled. They have come to automatically ask “if I give you my business, what will you give me in return”. They expect to be rewarded and will be more loyal to those businesses that give them something back.
Studies show that customers who belong to a loyalty program visit twice as often and spend 4 times as much as those that don’t
Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially of benefit to the firm. All components of the loyalty program should be clearly considered and vetted. Prepare a calendar of events and timetable to successfully complete the plan. There needs to be a philosophical change in the way your company views loyalty for your employees, vendors and customers. Depending on the sophistication of your program, you'll need to ensure that the proper systems are in place to effectively run your loyalty program. Market and launch your loyalty program: After putting the pieces together, it's time to promote and launch your program. One option you may want to consider is assigning a team to focus on specific action items to boost membership, such as a special sign-up day that promises incentives for instant enrollment. Once the program has launched, your customers will be curious about how the program works. It is your job to display and explain the program rules in a simple and concise message. Put your best offering forward as your customers will want to know exactly what the program offers them and why they should enroll.
Stats about loyalty programs
It’s 7-10 times more expensive to acquire new customers than it is to keep existing customers coming back.
Over 75% of consumers have at least one loyalty card
Repeat customers spend 33% more than new customers
Having an up-to-date and working customer database can double the value of your business
60% of consumers avoid advertising –
Shoppers are spoiled. They have come to automatically ask “if I give you my business, what will you give me in return”. They expect to be rewarded and will be more loyal to those businesses that give them something back.
Studies show that customers who belong to a loyalty program visit twice as often and spend 4 times as much as those that don’t