Loyalty rewards programs are no longer just a novelty, but essential business best practices. Almost every brand or business wants to offer some sort of compensation plan in hopes of achieving genuine and lasting devotion from consumers. According to recent statistics from Colloquy, 76% of customers see loyalty programs as an important part of their relationship with brands. If it’s important to them, it should be at the top of the list of things to get RIGHT in your marketing plan.

Customers today have an ever-constant, far and wide stream of information online and through social media. How a business displays sincere appreciation and dedication to its customers will be compared to that of its competitors. If your business doesn’t measure up against the competition, you’ll be quickly overlooked for the next best thing, better offer, or a more valuable rewards program!
 
The solution to a bland and outdated loyalty and rewards program is to encourage 360-degree engagement with your customers through captivating opportunities to interact with your brand. Acknowledging and appreciating customers, engaging with them personally, and giving them a simple, seamless system to participate in is alluring and effective. The more attractive your loyalty and rewards program is, the more you’ll be at the forefront of the market, leaving the other guys to be an afterthought at best. How can you escape the ordinary, run-of-the-mill loyalty program trap and make sure your business offers an irresistible loyalty rewards program? With these foolproof strategies in place, your loyalty rewards program will undoubtedly hit the mark in today’s no-nonsense economy.
 
An engaging 360-degree loyalty rewards program is multi-faceted

  • Multiple Ways to Earn Points 
A successful loyalty rewards program consisting solely of points earned for purchases is a thing of the past. Rewarding points for social sharing, referrals, leaving reviews for products or services, and brand interaction are where true loyalty lies! Know your customers. Determine which actions they already take and would be willing to take to determine how they’re most likely to accrue points. Marvel Insider rewards their fans for connecting on social media, watching trailers on YouTube, listening to podcasts and checking in online at comic book shops. Marvel has done a wonderful job of meeting their customer’s right where they are!
 
  • Simple and Fun
Even with multiple opportunities for earning rewards; if the process isn’t quick, easy, and contains an element of instant gratification, it won’t be well-received by even your most loyal customers. Cater to the specific interests and habits of your particular consumer for maximum engagement.
 
  • Tiers and Advancement
Customers want to feel accomplished, honored, and privileged. Working their way through tiers is worth the effort when they feel honored by those achievements in some way. Only the most loyal customers will get to the top, and that makes it special. Predator Nutrition offers exclusive freebies based on points and which tier the customer is in. They’ve increased motivation for a customer to advance by offering more points to the higher ranks. 
 

 
  • Exclusivity and Status
Everyone wants to feel like an insider. It’s imperative that your loyal customers have status that isn’t available to non-members. Privileges and points should be built up easily and packed with rewards so that loyalty and rewards members will earnestly rack them up. Keep members up to date on the latest sales, give them first dibs on new arrivals or services, and make sure they always know how close they are to earning their next reward.
 
  • Brand Engagement With Customers
Building relationships with customers is one of the most valuable assets a business can take advantage of. A punch card just doesn’t work in this day and age. Taking a vested interest in consumers means they’ll have automatic loyalty and genuine desire to stick with your brand every time. Relevant communication with customer’s builds trust and brand loyalty, thus increasing enthusiasm towards your brand and maximizing user engagement.           
 
Customer loyalty and retention is just the beginning.
 
If your loyalty rewards program is effective, it will do more than acquire loyalty from your customers. Customer retention and repeat purchases are only be the tip of the iceberg. A thriving loyalty rewards program will convert every customer into a brand ambassador who is effortlessly recruits new loyal customers. This magic is enabled by the 360-degree engagement model. You scratch the customer’s back, and they scratch yours. This sort of positive and profitable relationship is a mutual goldmine! Leveraging the power of 360-degree engagement will ensure relevant and meaningful communication, positive public regard for your brand, and consistent loyalty and repeat business for your company.
 
Author details:
 
Jai Rawat
Jai is CEO of Zinrelo, a technology company that specializes in loyalty rewards program. Jai is a successful serial entrepreneur, investor, advisor and mentor to several start-ups with over 18 years’ industry experience and an exceptional track record for creating exceptional online consumer products.

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