• Five Foolproof Ways to Promote Your Loyalty Program

    "EIGHTY-ONE PERCENT OF CONSUMERS AGREE THAT LOYALTY PROGRAMS MAKE THEM MORE LIKELY TO CONTINUE DOING BUSINESS WITH A BRAND." (VISA)

     

    We’ve done some research at CenterSquare and found that there’s a right way and wrong way to get customers to join your loyalty program. 

     

    1. Train staff to get the word out. Are they mentioning the program to your customers at all touch-points, but especially at the cash register? They are your most important loyalty program promoter. Be sure that you are asking the right question when promoting your loyalty program. You do not want to lead the customer to say "NO" and have them walk out without signing up. 
      • Three ways to start the conversation about your loyalty program:
        1. "Do you have any rewards to redeem today?" It gets your customer to think about how they are missing out not being a member.
        2. "Are you a member of our rewards program?" This question allows your customer to answer with a "YES" or "NO". If no proceed with letting them know what reward they get for signing up and how they can start collecting today to get more rewards.
        3. "Do you have the CenterSquare app on your phone?" This question gives you the opportunity to invite customers to join, and share the rewards they will receive by joining.
    2. Offer a signup incentive. Nothing motivates buyers like an incentive. Offer double points, use a coupon or enter customer into a drawing for a prize upon sign up. Create a reason for people to sign up.
    3. Make it worth their time. If customers have to wait too long to claim a reward, or if the reward itself is lackluster, you’ll have a hard time signing up people.
    4. Promote on multiple channels. Social Media, your website, emails, in-store signage, give out business cards and flyers.
    5. Referrals - Give customers more free things for bringing in a friend. You’ll have even more happy members.

     

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  • Loyalty Programs Make Good Business Sense

     

    By: Erica Mason

     

    Loyalty programs have always been thought of as a wonderful way to draw customers in and retain them. This is true, but the loyalty programs of today aren’t just punch cards and dollar driven rewards. Modern loyalty programs are a treasured marketing tool that turns your customers into brand ambassadors and providers of valuable analytics.

     

    Modern loyalty programs are personalized, and this adds a new dimension to the savings experience. Customers can feel a special connection to a brand by the way the program is delivered. Customizing promotions during special occasions or offering deals that target certain customers will increase a bond with the business. This direct way in communication with customers can also be useful in promoting sales, events and introducing new products.

     

    While communication is a huge part of the new loyalty program, businesses also have the ability to gain a better understanding of their customer segments. It isn’t efficient or profitable to cater to the customers that cost more money than they provide. A loyalty program that is designed to segment customers and give businesses an understanding of who is a profitable customer and who isn’t, can assist a business in generating money. Program data can help track the buying habits and preferences, giving a business a huge wake up call on what customers are investing their money in, their repeat rate and purchase frequency. Rewarding the customers that are most profitable is the easiest way to generate the most profit. It is often the case that it is less expensive to retain customers than attracting new customers.  

     

    A loyalty program is a win-win for businesses and customers. Customers get discounts and special offers that make them feel important as well as help their wallets, businesses build revenue when they build brand loyalty. A modern day loyalty program is a marketing answer to many business building needs.                 

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