A customer loyalty program is designed, essentially, to encourage customer loyalty, but without a well-planned and properly implemented system, getting the right response from your customers can be tricky. According to research, a successful customer loyalty program requires setting a clear goal for customers, creating clear guidelines towards that goal, and adding a bonus along the way. Here are some tips in designing a loyalty program worth looking forward to.
Make a Clear Objective Early On
Any loyalty program should have a clear, realizable goal. This is an important first step. Whether it’s a free gift, a rebate promotion, or an easily redeemable promotional gift card, your customers should know what the reward will be after a number of purchases or transactions. The knowledge that they will be getting something valuable within the program will make your customers feel motivated. However, you also need to structure a program that will be rewarding to your customers and your company, as well.
Give Enticing Rewards
Designing a customer loyalty program can be expensive, but you don’t need a lot of money just to make your rewards more enticing. The crucial thing here is to know which gifts or rewards are most enticing to your loyal customers. This will require studying the buying behavior and preferences of your customers and knowing which things they value the most. Even if you will be rewarding bulk gift cards, make sure that these cards give your customers something of value.
Reward the Right People
Segmenting your loyal customers will allow you to pinpoint the ones who are most loyal. This will allow you to devise a program that offers rewards according to customer lifetime value. Most marketing experts agree that loyal customers appreciate being recognized for their loyalty. You can, perhaps, reserve a special promotional gift card for your VIP customers to set them apart from all the others. These top customers deserve the attention, after all, since they bring more business to your company than all of your other customers combined.
Update Your Reward System
Don’t hesitate to offer new rewards to keep your customer loyalty program interesting to your clients. While a reward program can serve as a huge motivator for your most loyal customers, it can grow stale if not updated with new offers. If you want to make your program more than just a predictable system of multiple purchases and rewards, update it from time to time or introduce a new offer month after month. Perhaps you can throw in a gift card or a discount along with a free gift. This will keep your customers on their toes and looking forward to the next offer.
When done right, a customer loyalty program can reward both customer and business. Due to the flexibility and the popularity of wholesale gift cards, many companies have chosen to incorporate card rewards into their loyalty programs.
Interested in using a promotional gift card for your next reward system? Allow us at Mpell Promotions to help you design a gift card promotions program that really works.