How can implementing a trade partner programme improve customer loyalty? | Loyalty Works
To reward your customers by applying business loyalty schemes will ensure that your consumers, new and old, will keep returning to your brand.
Many customers will already be aware of loyalty schemes, but how does implementing these reward programmes into your business improve your brand customer loyalty?
At Loyalty Works, we deliver all-in-one reward schemes that generate real sales and ensure profitable growth for your business. To help you understand how to ensure customer loyalty and secure brand retention, we’ve created a guide as to why business incentive schemes can improve your customer loyalty.
How It Works:
Implementing a system where customers earn cumulative points or pounds, based on proof of in-store or online spending leads to customer retention and gives incentive to ‘one off’ customers to return to build their points.
Their points or pounds can then be redeemed against a catalogue of prizes; these prizes can be tailored to your unique audience, which in turn encourages more spending. Setting achievable targets and showing the full list of items and how much your customer has to earn to redeem these prizes, is a great tactic to ensure repeat visits and increased spend.
Customer Engagement:
Loyalty programmes allow you to deliver added value to customers by making them feel important. The direct line you have through the reward systems leads to increased engagement as you now have another reason for you and your customers to communicate.
You can encourage customers to visit stores more by sending SMS to their mobile devices; which they will have provided at the point of the reward scheme sign-up, this will keep them up to date with current promotions and new product launches. An SMS message is much quicker and more direct than an email and is more likely to be seen on mobile devices.
Bonus Rewards:
Specific promotions and tactical campaigns can also lead to added engagement. Contacting your customers about special offers that are relevant to them is another way to reward loyalty, for example, offering bonus points for specific products or bundles.
This will also help your business clear products that haven’t been the best sellers.
Business Benefits:
As well as these loyalty schemes benefitting your customers, they can also benefit your business in other ways such as:
- Providing live reporting on budget spends, ROI, and KPIs
- Easier to track customer sales claims
- Reducing the time it takes to process manual claims
- Quicker to implement new promotions
- Reducing the number of people, and admin, involved in running promotions
Final Thoughts…
Looking at all the different loyalty and reward schemes can seem overwhelming, but they are going to help build and maintain those key relationships with your customers that you require for the long-term success of your business.
Originally published at https://www.theloyaltyworks.co.uk on August 3, 2021.
