Maintaining customers over the long-term is a major challenge for small and medium-sized enterprises. So, why and how to stand out with an effective and attractive loyalty program?
Combined with a good strategy involving customer understanding, a rewards program is a proven tool. Here's why you should implement this kind of tool:
Thanks to new technologies, loyalty programs have vastly improved (data collection, customization, customer relationship management, ease of use, etc.), but they have retained the same purpose: to offer rewards to customers which are commensurate with their expenses so that the customers are encouraged to return.
In the digital age, the classic loyalty stamp card may seem old-fashioned. However, because its implementation is simple and very affordable, this approach remains an attractive option for small and medium-sized enterprises.
The benefits:
Stamp cards are suitable for “Buy 9 get 1 Free” campaigns, for example, which allow the customer to geta free item or a price reduction after nine or ten purchases.
Example: The Soko Café, which also offers a coworking space, uses stamp loyalty cards with attractive visuals. The program offers three different cards depending on the targeted clientele.
A digital loyalty program is more responsive to changing consumer behaviours and business needs in terms of personalization and data collection. It can take the form of an online account or a mobile application. The benefits are numerous:
A digital loyalty program will allow you to build an indispensable customer database which will enable customization of offers and communications based on profiles (e.g., new, casual, regular, VIP, etc.) Of course, they must agree to share this data. The provider of the chosen technology solution can advise you on a privacy policy.
As with other marketing activities, the creation of strategic partnerships with other companies is an opportunity to consider when it comes to implementing a loyalty program. Choose a company which is complementary to yours. The partnership must, of course, be a win-win for both parties: each must benefit from it.
As “buying local” is trendy, a regional loyalty program can become a great way to encourage customers to support local businesses. Embrace the principle of co-optition by partnering with other regional businesses. Platforms like Freebees allow you to develop this type of program. By purchasing from the participating stores, customers earn dollars that they can spend in any of these stores. The platform also offers services to companies such as customer relationship management, marketing support, performance follow-up, etc.
For an attractive loyalty program, there are two key words to remember: ease and generosity!
Whether it be a paper or a digital program, registration should be as simple as possible to avoid demotivating customers: use short forms and invite the customer to provide their personal information later on.
Like the loyalty programs of airlines and hotel groups, points systems are also often used in restaurants, retail and tourist attractions. Beware, the conversion of points must remain simple!
How do I earn points?
Chocolats Favoris encourages its customers to take on challenges to earn points. The ChocoFan app allows them to post photos of challenges, track the number of points earned, and earn rewards in exchange for points.
The attractiveness of your loyalty program is based primarily on the added value your customers perceive and the benefits they derive from it. Rewards can be defined in advance (e.g., after 9 nights, the tenth is offered free of charge) or redeemable based on the customer's preferences. Try to vary the types of benefits offered:
Recognizing the commitment of the most loyal customers by granting them a privileged status is a winning strategy. In its Grand Buveur program, DAVIDsTEA promises special status to its most loyal customers. They receive gifts, exclusive tea samples, and invitations to VIP events.
Offering attractive rewards is good but implementing a profitable loyalty program is better! It is therefore essential to follow these tips before you start:
Insights written in partnership with Expérience Acadie.
Sources
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READ MOREMaintaining customers over the long-term is a major challenge for small and medium-sized enterprises. So, why and how to stand out with an effective and attractive loyalty program?
Combined with a good strategy involving customer understanding, a rewards program is a proven tool. Here's why you should implement this kind of tool:
Thanks to new technologies, loyalty programs have vastly improved (data collection, customization, customer relationship management, ease of use, etc.), but they have retained the same purpose: to offer rewards to customers which are commensurate with their expenses so that the customers are encouraged to return.
In the digital age, the classic loyalty stamp card may seem old-fashioned. However, because its implementation is simple and very affordable, this approach remains an attractive option for small and medium-sized enterprises.
The benefits:
Stamp cards are suitable for “Buy 9 get 1 Free” campaigns, for example, which allow the customer to geta free item or a price reduction after nine or ten purchases.
Example: The Soko Café, which also offers a coworking space, uses stamp loyalty cards with attractive visuals. The program offers three different cards depending on the targeted clientele.
A digital loyalty program is more responsive to changing consumer behaviours and business needs in terms of personalization and data collection. It can take the form of an online account or a mobile application. The benefits are numerous:
A digital loyalty program will allow you to build an indispensable customer database which will enable customization of offers and communications based on profiles (e.g., new, casual, regular, VIP, etc.) Of course, they must agree to share this data. The provider of the chosen technology solution can advise you on a privacy policy.
As with other marketing activities, the creation of strategic partnerships with other companies is an opportunity to consider when it comes to implementing a loyalty program. Choose a company which is complementary to yours. The partnership must, of course, be a win-win for both parties: each must benefit from it.
As “buying local” is trendy, a regional loyalty program can become a great way to encourage customers to support local businesses. Embrace the principle of co-optition by partnering with other regional businesses. Platforms like Freebees allow you to develop this type of program. By purchasing from the participating stores, customers earn dollars that they can spend in any of these stores. The platform also offers services to companies such as customer relationship management, marketing support, performance follow-up, etc.
For an attractive loyalty program, there are two key words to remember: ease and generosity!
Whether it be a paper or a digital program, registration should be as simple as possible to avoid demotivating customers: use short forms and invite the customer to provide their personal information later on.
Like the loyalty programs of airlines and hotel groups, points systems are also often used in restaurants, retail and tourist attractions. Beware, the conversion of points must remain simple!
How do I earn points?
Chocolats Favoris encourages its customers to take on challenges to earn points. The ChocoFan app allows them to post photos of challenges, track the number of points earned, and earn rewards in exchange for points.
The attractiveness of your loyalty program is based primarily on the added value your customers perceive and the benefits they derive from it. Rewards can be defined in advance (e.g., after 9 nights, the tenth is offered free of charge) or redeemable based on the customer's preferences. Try to vary the types of benefits offered:
Recognizing the commitment of the most loyal customers by granting them a privileged status is a winning strategy. In its Grand Buveur program, DAVIDsTEA promises special status to its most loyal customers. They receive gifts, exclusive tea samples, and invitations to VIP events.
Offering attractive rewards is good but implementing a profitable loyalty program is better! It is therefore essential to follow these tips before you start:
Insights written in partnership with Expérience Acadie.
Sources
Retrouvez ici les contenus partagés dans notre Infolettre thématique Septembre 2023
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LIRE PLUSRetrouvez ici les contenus partagés dans notre Infolettre thématique Juin 2023
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