So you’ve gone and established a Loyalty and Referral rewards program for your store, and now you’re waiting for your customer acquisition and retention to shoot up, and maybe you’re feeling like it isn’t working as well as promised. Guess what, it’s possible that your program isn’t working as well as it really could! The platform you’ve gone on-board with can only go so far towards getting your customers involved. The rest of the work must be done by you to ensure the program’s success. It’s absolutely essential to make sure that you promote your new Loyalty or Referral Rewards program among your customers. If you want your new rewards program get you as much revenue as it possibly can, you must do the the following things –
Promote your Loyalty/Referral Rewards Program:
Letting your customers find out about your new reward program through proper promotion is absolutely essential to make sure that it works! You must ensure that all your existing and new customers are made immediately aware of your rewards program in a pleasant and attention-grabbing manner. Advertising your rewards program at your store via posters, banners, fliers, etc. and through digital media such as social media sites, e-mails, sms etc. can go a very long way in making sure your customers find out about your new rewards program. Many Loyalty or Referral Rewards programs of various brands have been seen to be ineffective solely due to the customers’ ignorance about the existence of the program due to the store’s failure to promote it properly.
Give your customers a reason to share the news:
Giving your customers a reason to share your Loyalty rewards program is very important, and that is the only way to ensure that you will acquire new loyal customers and retain old ones. This is where the Referral program’s function comes in as it incentivizes your advocates to refer your brand to newer customers who will become advocates through the same process. Loyal advocates make a business prosper, and a good Loyalty/Referral Rewards program like the one you can create through Loyalie’s new AER Platform, can ensures a steady inflow of advocates.
Create a new brand around your Rewards program:
Your program should become a brand on its own. It should be extending from your brand, and not just an extension of your brand. “So-and-so’s Loyalty/Referral Rewards Program” or any such generic name is not going to engage your customers with your new program as much as an innovative and congruent brand name that echoes your brand and extends it, bringing the same brand values to the rewards program as the ones possessed by your brand. If you are a luxury brand, your rewards program should echo that, or if you are a utility-oriented brand, your rewards program should be utilitarian in nature.
Offer convenient and easy-to-redeem currency and rewards:
The age old concept of “points” to be collected and redeemed does not work efficiently anymore as customers are already tired of that model of loyalty/referral rewards. Coming up with new modes of currency to be collected by the customers, with innovative and convenient methods of offering rewards is the only way to make sure that your customers are kept engaged with the program instead of getting tired of it and choosing to opt out. Wallet-burdening loyalty cards, point-based currency and loads of points required for unconvincing rewards are no longer useful, and this is where Loyalie’s AER Platform can help you create a unique and enticing Loyalty and Referral Program, with its stamp-based system where customers are rewarded against the number of visits to the store or number of people successfully referred to the store, through the convenient and easy to use interface of our App, requiring no cards or paper, just a smart-phone! The rewards offered upon a requisite number of visits should also be designed comprehensively, so that the customer is given the choice to receive a gift he enjoys and is happy about, instead of any randomly selected generic gift.
Give your customers enough time to redeem their rewards:
Points earned by customers generally come with an expiry date before which they must be redeemed from the store, and it is very often observed that customers are not able to collect enough points fast enough to really get the gifts they want, especially in a multi-tiered reward program. This makes customers unwilling to participate in these rewards programs. Alternatively, if you look at the places that give a long time for their customer’s points to be redeemed, they have the chance to collect enough points to redeem them for something worth it, and this makes their customers eager to stick with the program and spread it around.