Ways to Cultivate Customer Excitement
Dec 11, 2018
Making Loyalty Programs Work For You
Here’s the good news…Loyalty programs are big business getters. But they can be even bigger when you use really cool promotional products that are trendy as part of your reward. And because Loyalty programs are in vogue, there’s never been a better time to jump on the bandwagon.
How important are Loyalty programs to companies? DSW’s Loyalty program got a full buy-in from its executive management team because Loyalty represents 80% of their sales. Starbucks program is so entrenched in the company’s marketing programs that they developed an app for it. Almost the entire world knows about the Victoria’s Secret Angel Card. Also, every Fortune 1000 Company has a Loyalty program. So your customers are expecting one from you even if you're a small company. And why not? Loyalty programs—like the people they market to—come in all sizes.
So, the next question is, “why use promotional products in Loyalty programs?” The answer is simple. Promotional products—in lieu of “points”—are very viable rewards. Giving away a really awesome promotional product as part of the Loyalty program gives people something to “shoot for”. A custom-logoed $100 watch could be the top award, whereas on the other end a really cool phone cover could work as well. Best part is they’ll carry it around advertising your product. Plastic loyalty cards don't advertise.
Taking a moment for the smaller business… yes, there’s a lot of work that goes into making a Loyalty program, but once you institute it, you won’t have to work as hard retaining customers. That's the bottom line for Loyalty programs—you don’t have to beat the bushes everyday for new business; rather, your current clients stay. And when you use promotional products, those clients are likely to refer other clients to you.
There are pillars to making a successful Loyalty program:
- Make your programs glamorous
- Make rewards achievable
- Put the customer at the center
- Share your story
- Make sure your employees are on board
OK, what’s your next step to getting going? Loyalty programs used to be simple. The more customers purchased, the more a company rewarded them. But consumers today expect far more from companies to gain their loyalty over the long term. Consult us. We can develop Loyalty programs for virtually any industry. The result is your bottom line will look better with all of those return customers who are also personally endorsing and showing your brand.
“Tell me and I forget. Teach me and I remember. Involve me and I learn.”
~ Benjamin Franklin