3 Things to Consider Before Setting Up a Loyalty Program
Keep it Simple - 3 Things to Consider Before Setting Up a Loyalty Program
Nowadays almost every supplier or vendor, from large household brands to small businesses and startups, offers a customer loyalty program that allows them to increase their return on investment through repeat business. Loyalty programs make good business sense as it can cost a lot to acquire new customers compared with repeat customers. The latter will not only become more loyal to your brand, they will also continue to buy more products over and above their first purchase, thus boosting sales.
There’s a range of loyalty program mechanics that are simple to use, usually based on earning points for sales or purchases. But before you set up a loyalty program, there are also some simple tactics to keep in mind.
Can you add new members easily?
When it comes to picking the best business loyalty programs you need to ensure that you can easily add new members to the program with a simple and efficient sign-up process. It sounds obvious, but your loyalty program will only deliver results if it can reward the members that belong to it. It’s a numbers game, so the more members you have, the better your success rate. And the easier it is to add members, the quicker your membership base will grow.
What type of information do you need from participants?
If you are signing up participants for a sales incentive program for salespeople, aside from the individual’s name, you usually need their mobile number and email ID. At times a mobile number is a great way to send reminders and SMS messages to participants, along with an email to send program updates. This also makes it easier for you and your clients when it comes to subscribing or redeeming vouchers. If a client has a couple of email addresses including ones they hardly check, then always ask for their primary email adress so that they can see your email as soon as they log in. While most people are reluctant to part with their home address, you can always send vouchers or rewards to their place of business – so it’s worth trying to gather this information as well.
What information do you need for reward fulfillment?
Your reward fulfillment for incentive and loyalty programs should only require one or two initial pieces of information from the customer at the enrolment stage. This could just be the person’s name and mobile number. Don’t ask your customer to fill in lots of additional data fields. Too many questions will make the process too time-consuming and put your customers off your program. They’ll give up on it, especially if they are time-poor (and who isn’t time-poor these days?) Once your customer is actively part of the program, you could ask a couple more questions, for example, their email or address if you need to arrange delivery of a reward.
Final Word
Lastly, when picking the right loyalty program ensure that you go in for one that’s reliable, flexible, quick, and easy and allows you to communicate promotions, rewards, and updates with your clients as well as boost your brand’s revenue and sales. Do some research or even ask a couple of clients or brands until you find the right one. This will help you succeed and keep your customers happy and fulfilled with your services.
