Lower costs and increase closeout with a loyalty strategy
Build loyalty to your customers
Importance of loyalty strategies
Customer loyalty strategies and modalities always show an excellent addition to marketing efforts. Instead of focusing on continuing to invest in advertising and materials to be noticed for how much I pay and the quality of billboards, it has been shown that it is up to 15% healthier and safer for the brand to reach those sales goals by loyalty to customers that they have already bought.
What is a loyalty program?
It is a strategy built around the growth and retention of existing customers through incentives such as gifts, discounts and / or exclusive access. Loyalty marketing efforts are designed to build brand trust, rewarding customers for their continued commitment and loyalty to the business.
Benefits of loyalty programs
A strategy-driven ecommerce loyalty program can create a dedicated community around your brand, helping you stand out in the following ways:
More information in customer profiles
Increase information in customer profiling, to generate richer data and drive other marketing activities, such as personalization.
Purchasing process redefined
A redefined purchase process, to make online shopping feel smooth and easy to follow.
Experiential rewards and VIP benefits
Experiential rewards and VIP benefits, to increase the customer's Customer Lifetime Value.
Types of loyalty programs:
There is no single solution for all types of companies, ever, so it is always important to understand and analyze what options are available before making any decisions.
Subscription-based programs
If you have a well established brand and offer services truly desirable, you can run a program that is based on a subscription to your service or product. People who opt for a membership will be much more likely to commit more to the service and get the most out of their subscription.
Points-based programs
One of the oldest mechanics in the loyalty program, it's about to earn points and then spend them. In a more up-to-date approach, customers can earn points for a variety of interactions, not just for purchase transactions, for example sharing pages, completing your profile or subscribing. Point systems are easy to manage and quick to implement, perfect for businesses that want to get started quickly.
Staggered Programs
The system allows them to progress through the program, obtaining better benefits as they spend more money or earn more points. Higher tiers are associated with more exclusive brand experiences and rewards for fewer customers, rewards that many people will work towards.
Benefit Programs
Benefits are a great focus if you have a unique service or if you are only looking to increase goodwill among your customers. For these reasons, this type of program is ideal for brands that aim to make the shopping experience more enjoyable or generate brand awareness.
Every company needs a Customer Experience Strategy!
Start with Customer Experience Design as a methodology to improve your processes, business models and value proposition. Once the CX process is defined, automate the process through a Customer Experience Architecture.
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