Loyalty Marketing Programs

Customer loyalty programs are needed to boost customer retention and increase revenue. Loyalty programs provide a strategy that encourages customers to repeat business with a company. These strategies normally include incentivizing purchases and building up customer loyalty.

To grow a customer base you need to keep hold of the people who are more likely to buy from you again. The solution is to create a customer loyalty program that rewards the customers who come back.Different types of loyalty programs — A customer loyalty program can be any of three different types:

a) Tier-based programs —

b) Points program —

c) Paid -programs —

As enumerated below, certain characteristics make a loyalty program work:

  1. Transparency — Visible and accessible customer reviews, frictionless paths to contact support teams, and detailed information about products will go a long way to establish customers’ trust. The more transparent a brand is, the more likely a customer will remain loyal.

2) Revamp- The most successful programs evolve over time as businesses adjust to changing customer preferences.

3) Emotional connection — Emotions are the biggest driver of customer loyalty. Emotionally engaged customers tend to spend more.

4) Putting the customer first — The customer should be at the center of everything. It is important to understand why a customer wants to connect with a business not just in terms of products and services but also in all the other experiences they crave. Loyalty programs should surprise and delight customers.

5) Personalization- Consumers expect perks, promotions, and experiences tailored for them. This entails strategic use of customer data.

Ronn Torossian is the CEO and Founder of 5W Public Relations. 5W PR is a leading digital PR and influencer marketing agency.

Ronn Torossian is CEO & Founder of 5WPR & one of America’s most notable PR executives. He is the Author of best-selling PR book, “For Immediate Release.“