There are a number of online and physical stores that are available for customers and therefore it is not an easy task to be able to keep customers loyal to your brand. That is especially applicable to small businesses. The best way you will be able to keep customers coming back is through marketing and one effective marketing tool that is available is customer loyalty programs. Put simply, customer loyalty programs refer to reward programs that are offered by a company or brand to customers who make buys regularly. The company or brand offers exclusive promotions, products, or pricing and the customer in return agrees to constant brand engagement or repeat purchases.
There are a number of statistics that really show just how important customer loyalty programs are. One study puts the number of consumers that say the retailer choice is
heavily influenced by customer loyalty programs at 69%. Furthermore, 49% of consumers agree that they tend to spend more after having enrolled to customer loyalty programs.
Since there happens to be various types of customer loyalty programs, it is upon the business to adopt the best type/s that would help in keeping its customers to be able to realize the benefits involved. A business must be able to understand what the consumer values and the program should be flexible as consumers preferences do change with time.
Under What Scenarios Can Customer Loyalty Programs Happen?
- When you want to boost sales and of course promote growth of brand or business.
- When you want s strategy that is cost effective and with minimal resources high ROI is guaranteed.
- When you want to create brand recognition.
- If you want to improve customer relationship.
- If you want vital market research information. You will be able to be provided with essential information in regards to your various consumers.
In conclusion, if the present marketing strategy does not involve customer loyalty programs then as you have seen your business is missing out on not only the easiest tools available but also the best to help your business prosper. In some instances though, there are businesses that are already employing the use of customer loyalty programs but are not realizing its benefits.There are high chances that the reason could be that the customer loyalty programs are not fully functional. In the two scenarios, it is important that you employ the professionals called Edenred to be able to create for you a winning loyalty program for your brand.