It is human nature to want to feel appreciated, which is why a customer loyalty program is an effective way to foster long-lasting relationships. Loyalty programs are a staple for many businesses and offer exclusive products, promotions, or pricing. In return, customers begin to feel connected to your brand with repeat purchases and, hopefully, referrals. Knowing how to roll out a program that works is a big part of your company’s success, and the BLOQ parq (tBp) is committed to helping entrepreneurs build their brands. The steps below can help guide that journey!
Step 1: Choose Your Reward(s)
If you reward customers consistently, they are more likely to use the loyalty program you create. Whether those rewards are large or small, you’ll find customers are usually willing to participate. Cashback and gift cards can be a big win since customers can choose how they want to use their rewards. This type of incentive makes it simple to bump up future monetary increases, which means you don’t need to set the bar too high straight out of the gate.
Step 2: Find Ways To Simplify
Loyalty programs should be fast and easy, allowing customers to sign up with ease. If the process ends up being lengthy or requests too much information, people are known to bail. You also want to be sure your employees can explain your loyalty program in less than 30 seconds — this is a great way to determine if your loyalty program is too complex. Consumers crave rewards that stay active without limitations or complicated terms and conditions. Shop. Save. Repeat.
– According to the survey reports of small businesses analyzed by BIA/Kelsey
Step 3: Integrate Efficiency Into The Operations
More often than not, as an entrepreneur, you’ll start with the best of intentions when structuring a rewards system, but soon find yourself unable to manage it properly. For the loyalty program to be worth your while (and the customers), you want it to run like a well-oiled machine. Do your research or, even better, hire the right people to determine the operations system that has the capability of seamlessly integrating all the moving parts of your loyalty program. The end goal is to avoid the unnecessary burden of micro-management and reap the benefits of repeat purchases.
Step 4: Use Technology To Your Advantage
You’ll notice a theme of “keeping it simple” through each of these steps, and there’s a good reason for it. Time is money, especially for an extremely busy entrepreneur like yourself. For this reason, any trick or tools you can use to make things easier and more effective is a significant win. This is definitely true when it comes to technology. Adopting text-to-join programs is an efficient way to keep things moving with minimal oversight. Customers provide their phone number when making a purchase, and the business is set up to only text customers when they earn or redeem points. It doesn’t get much simpler than that!
Source: Gallup Poll
Step 5: Promote Until Your Heart’s Content
Once you have built your fantastic loyalty program, you are ready to promote it! For revenue to build, you need to announce the arrival of your latest and greatest rewards system to see a Return On Investment (ROI). Utilizing email, social media, and your website are significant first steps. Focus on platforms that your demographic gravitates towards (Facebook, Pinterest, Instagram, etc.).
Loyalty programs successfully engage customers and spread the news of all the great things your brand has to offer. By following the five steps outlined above, a level of customer loyalty is created and secured. tBp is all about earning loyalty by championing your entrepreneurial success. We offer built-to-suit micro- retail and office spaces designed to meet your needs and help you fulfill your dreams.