5 Easy Tips for the Best eCommerce Loyalty Program.
Customer loyalty is the most prized asset for a business. But building loyalty can be extremely challenging. With the right loyalty program and approach, you can create a stream of loyal customers that will always want to do business with you. With a successful loyalty program, your brand will always be at the top of their list.
Here are a few tips to create the best eCommerce loyalty program:
Discounts, discounts, and discounts
Discounts are a huge attraction for consumers and they certainly help drive sales. But you cannot go overboard with discounts. Discounting inside loyalty programs is not always the best approach. Offering a discount to a customer who is already likely to go ahead with the purchase will not engender loyalty. Instead it may grow a sense of entitlement that there should always be a discount. You don’t want that. You want to present a great deal to your customers that should be enough for them to make the purchase. Then, after such a purchase, present them with a follow up discount on other items.
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Customers love to get rewards. Simple discount offers are less likely to excite interest in some customers. They may be looking for something more exciting that could touch their five senses. Access to exclusive offers, such as live event tickets, can make them feel special and establish emotional and memorable connections with the brand. Sparks go off in the brain every time they think of that experience that you helped make.
The best thing about offering experiential rewards is that the customers are more likely to spread the word about them in social media.
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Brands can leverage the data collected through loyalty programs to understand customer purchase behavior and offer personalized experiences to customers. This very often leads to an increase in customer loyalty. Buying data can offer insight into customer behavior, which brands can leverage to design personalized discount strategies and experiential rewards to wow specific groups.
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Loyalty programs are designed to offer compelling value proposition to customers, so they feel valued. However, focus a little more on your most valuable customers and design special tiered programs to wow them. As customers establish their loyalty, move them up the tiers offering greater rewards. Use your sales data and put different customers in different “spend zones”. Those who spend more can be given more rewards and those who spend less can be given less rewards, but still enticed with the better, MVP rewards so as to encourage them to spend a little more to move on up to the higher MVP customer spend zone.
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Consider implementing short-term loyalty programs. More often than not, long-term rewards are really not sustainable in the long run.
Customers want to spend their money judiciously. Offering short-term reward programs can tempt them to spend money now instead of thinking that it’s too long a period to final redemption.
Short-term initiatives can work in tandem with long-term loyalty programs to entice customers to spend and make them feel valued so they remain loyal to the brand. Happy customers are more likely to come back!
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Do what fits your business and your market. One size doesn’t fit all when ti comes to loyalty and rewards programs. Most important of all, listen to your customers and very often they will “tell” you the type of rewards they want. Use your sales and rewards data to help. Master this and it will give sales a real Boost!
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