Loyalty program - 4 tips on how to improve it
WHAT IS THE LOYALTY PROGRAM?
A loyalty program is a tool to attract and retain customers. The company offers customers products that are relevant for them, and they respond to this with regular purchases, for which they receive rewards in the form of discounts, special offers, gifts, bonuses, etc. Between the business and the target audience, long-term trusting relationships are built, characterized by the LOYALTY of users to a particular brand.
Such loyal customers, on average, are ready to leave 31% more of their funds in the organization than those who apply for the first time.
Here are some facts:
• Every year a business loses 15% of its customers and it costs 10 times more to attract new ones.
• 13% of dissatisfied customers tell another 15 people about their bad experience.
Loyalty programs do not always bring benefits and positive emotions. Often buyers refuse to participate in the loyalty system due to the complexity of registration, unwillingness to carry another card, information spam.
4 TIPS TO IMPROVE YOUR LOYALTY PROGRAM WITH
• The first is to refuse plastic cards, leaving only the application in the phone. Plastic cards are inconvenient and not environmentally friendly.
• The second is to remove the expiration date of points / bonuses, customers appreciate a brand that does not limit them more. Customers will know this and rely on the company's loyalty program.
• The third is to make registration in the program as simple as possible, for example, you only need a phone number or just an application on your phone, then there will be much more participants.
• Fourth - to make offers for customers personalized. Offer the client only what may be interesting or useful to him.