The Ultimate Beginner’s Guide to Customer Loyalty
Any person who has worked in retail or e-commerce will agree with the fact that it’s hard to acquire customers and it’s even harder to retain them and convert them into your loyal customers. It’s no less than walking on a wobbling tightrope. But it’s of paramount importance to retain your customers, as every single retained customer is more valuable than a newly acquired one. Social Annex has understood all the above-mentioned issues from the beginning. After analyzing each and every brick in the wall of customer loyalty concept, we have devised a robust loyalty program, which ensures that the customers of our clients will keep coming back to them to purchase and repurchase. This beginner’s guide to customer loyalty will get you completely acquainted with it.
The Beginner’s Guide to Customer Loyalty: How Do Our Loyalty Programs Work?
Our cloud-based customer loyalty solution works in four main steps, which are as follows
A) Loyalty Registration: Just like every other program, the first step of our loyalty program is getting your customers registered. This is how customers come to your funnel of loyalty.
B) Loyalty Action:
To qualify for the rewards, the participant has to perform some actions, say purchasing, signing up for newsletters, referring their friends, submitting reviews, etc. Since no two businesses and customers are same, we have kept our loyalty solution flexible. You can choose rewards based on your product segment, profit margin, and target customers.
C) Loyalty Dashboard:
To keep transparency in the functioning of our solution, we have provided Loyalty Dashboard. It allows customers to access their point standing, the types of rewards they can receive and how they can redeem their points.
D) Loyalty Redemption:
Once your customers have earned enough reward points, they can either redeem them through their dashboard or at checkout. A suitable redemption process will be deployed by us that works for you. As our loyalty program revolves around customizability and flexibility, you can also customize the rewards. Whether it’s coupons, products or 3rd party gift cards, you will be in a position to offer your customers incentives they will respond to.
The Beginner’s Guide to Customer Loyalty: How Can You Reward Your Customers Efficiently With Our Solution?
Rewards are the only elements in the loyalty program that carry magnetic power. Thus, it requires an efficient system to ensure the seamless system to distribute them. That’s why we have left no stone unturned in helping you to take informed steps in that regard. We offer a static landing page for rewards that you can edit. We also offer an interactive reward page with hover stats and hyperlinks. The code needed for its functionality will be provided by us. We can gamify the rewards as well. We can build a subprogram to reward your customers with badges and different tiered mechanism. Also, our reward management system allows you to…
- Eliminate the complexities and data silos associated with multiple platforms and vendors
- Reduce time-to-market for your loyalty programs
- Integrate Social Annex solutions seamlessly into your existing eCommerce and marketing, and technology infrastructure
The Beginner’s Guide to Customer Loyalty: Our Assistance In Your Marketing Efforts Of The Loyalty Program
To be heard, it’s necessary to make a noise. The same principle works in the league of marketing too. It’s a must thing that your customers, both existing and potential ones, know about your loyalty program. And we help you in achieving that. We brainstorm with you in strategizing and implementing marketing campaigns and website “calls to action” specifically designed to inform customers about your loyalty program. We will help you in devising a plan to:
- Get the word out about a new program
- Encourage your customers to register
- Keep loyalty members engaged on a long-term basis
The Beginner’s Guide to Customer Loyalty: Measuring, Monitoring, and Analyzing
We believe that management is not possible without measurements. You must have numbers with you, which allows you to keep your program quantifiable and comparable with the earlier results. As discussed earlier, our solution comes with a comprehensive rewards dashboard to enable you to monitor your loyalty program and make adjustments on the fly. You can have a close eye on data such as:
- Rewards given in a certain time period
- Rewards and actions filtered by type, claimer email, claimer name, reward code, etc.
- Rewards in the aggregate and on an individual level
- Individual loyalty member profiles
Not just that. You can monitor key elements, like point standing, demographic information, actions customers have taken, and the frequency of their engagement. Based on that, you can send your customers targeted emails to further boost their action. For example, if you find that one of your customers just needs 100 more points for a reward, you can trigger a personalized email like this: “You are just 100 points away from the reward. What are you waiting for? Do come back”. This targeted marketing not only increases participation in your loyalty program, it also strengthens your customer relationships. We follow the same philosophy when it comes to return on investment (ROI). We measure everything! The same dashboard allows you to focus on insights such as:
- Total points awarded and redeemed
- Registration and participation over time
- Individual loyalty member profiles
- Loyalty actions taken
- Customer demographics like age and geographic region
- Revenue generated by your loyalty program
The Beginner’s Guide to Customer Loyalty: Customized Reporting and Scheduling
The importance of the right data at the right time in the right hand is enormous. It acts as a savior in the hour of emergency and acts as an instant tool when something innovative and creative needs to be implemented in no time. That’s the exact reason why our Online Loyalty solution comes with customizable reporting and scheduling. It ensures that everyone on your team is getting the information they need.
The Beginner’s Guide to Customer Loyalty: Safeguards
We take steps to eliminate customer loyalty fraud, such as instant point deductions, cookie-based actions, and account verification. Conclusion: It must be aptly clear that loyalty cannot be taken for granted or should not be considered only as the attitude or the wish of the customers. It should be measurable and it should reflect in the company’s financial results. As a marketer, you should be able to plan a clear and direct economic benefit of some kind, as the result of the strategies and tactics you employs to increase the customers’ loyalty. Indeed, Social Annex’s loyalty solution is the closest one to the ideal solution!
For more loyalty tips and best practices, check out Customer Retention in 2017: Driving Emotion with Technology , our post on your top loyalty marketing FAQs, and our four-point strategy for advocate loyalty!