Customer loyalty: 6 Innovative ways to Reward your Customers
6 Innovative ways to Reward your Loyal Customers
Businesses are fighting to survive in this post-COVID world. Instead of finding new customers, they can focus on building meaningful relationships with their existing customers.
Think of your brand – what special perks are you offering to your customers? Why should they stick to your brand? Are you doing anything different than your competitors? As a business owner, you need to ask these questions if you want your customer to stick to your brand. Investing in a customer loyalty program is the first step towards building meaningful relationships with your customers.
You can build meaningful relationships with your customers only if you know what they want from you. Many small and mid-level businesses misunderstand the concept of reward programs and fail in creating a perfect loyalty program for their customers. Before you plan what it is you want in your reward program, you need to know your customers. Many tools are currently available in the market for analyzing customer behavior. However, did you know your CRM System is highly capable of giving you insightful information about your customer behavior? In this blog, we will also uncover how to use CRM to reward your valuable customers.
You can use CRM systems to get valuable insights about your customers to build a kickass reward program. Also, focus on the designing and implementation aspect of your reward program for the best desired results;
1. Surprise your customers
Provide the unexpected to your customers. You can offer digital discounts, freebies, and exclusive offers to your high-spending customers. Discounted membership is a good option to keep your customers glued to your brand. Just keep in mind that all customers are not equal. First, study your customers before implementing the rewards program. CRM allows you to track customer behaviors so that you can create better reward programs. For example, females of the age group 24-35 prefer to shop during the end-of-season sale. You can surprise these customers with a FLAT 25% off. Studies show that customers respond instantly to such offers.
2. Give Freebies
Who doesn’t want a free product? Freebies generate a lot of sales if it is planned properly knowing your customer’s requirements. Offer free samples of your products & discounts to the repeated customers. Frequent discounts or cashback is an effective strategy to reward your customers. A freebie might be daunting for some businesses, but it can boost sales in no time. Your customers will keep coming back for more. Which doesn’t mean you have to give freebies all the time. Just find the right time to implement your reward program. Example Loyalty Programs with freebies often have a 20% more redemption rate.
3. Offer VIP experiences
A VIP experience is vital for every business. There is a segment of your customers who keep coming back. Elevate their customer experience by offering them a VIP Service. Studies show that customers who visit brands frequently are willing to spend more for a differentiated experience. Offer them premium membership if it is aligned with your product. Give your customers special perks, discounts, and offers to engage them with the brand. Your customers would love it. Study your customers using a CRM system for small businesses designed to give exclusive information about the customers. It offers real-time tracking and other valuable data about customers so that you can build a strong reward program that actually delights your customers.
4. Extraordinary Mobile Experiences
70% of customers say that they would actively participate in the loyalty programs accessible on mobile phones. This is good, isn’t it? You can elevate the mobile experience by introducing a new design and adding fun elements to the application. Integrate gamification on an app or website to engage your customers. Gamification integration is an effective way to engage customers. It combines fun and engagement at the same time. Your customers feel a sense of achievement when they win. This is a good reward strategy to delight your customers. Always ask for feedback to know if your customers really find it engaging or not. Invest in a user-friendly application to connect with your customers.
5. Leverage the power of social media
We all use social media. It is interesting. Leverage the power of this amazing medium to reach out and reward your customers. It will increase brand awareness, customer engagement, and profits in the long term. By integrating social media into your loyalty program you can boost sales like never before. Once you have the customer insights you can easily build a successful reward program by rewarding the non-transactional behavior.
There is so much to gain from a reward program using social media. Try to do something different from your competitors. Social media is cluttered so stand out to engage your customers & don’t forget to promote other reward programs on your social media pages.
6. Reward your customers for giving feedback
Customer feedback is important for all businesses. Reward your customers if they are willing to give feedback. You can increase the number of reviews by giving incentives to your customers. It makes them, even more, likely to submit the feedback. You can use a CRM feedback management system to roll out feedback programs. Send a survey to your loyal customers to ask for their feedback. Be clear about the survey. You could even ask them specific questions related to the reward program to get an in-depth opinion.
In this competitive world, standing out from the crowd is a must. Rewarding your customers is always a good idea if you want to run a successful business. Whether your motive is to build engagement or to increase sales, rewards never go waste. It is an effective strategy to surprise your customers and make them stick to your brand. The rewards increase the brand value that leads to customer retention.
CRM systems can be a great help for you for studying customers and choosing the right customer group for the reward program. You can take help from loyalty programs companies in India for the best outcome of your reward program.
A successful reward program focuses on improving the entire customer experience. That is what keeps your customers committed to the brand and builds a strong connection