The eternal question that every business owner must ask themselves is, ‘is it worth building a loyalty scheme?’ The reason why we ask this is that setting up a fair loyalty scheme is tough. It’s only financially worth it if it doesn’t cost much to create, implement and maintain. The key factor for the final point is, will there be enough loyal customers to make the scheme viable in the long-run?
Well, that’s up to your marketing initiatives, your business as a whole, and how well the loyalty scheme is received. Let’s see what could prevent this point from occurring.
What’s the Word?
Forst the most part, yes we can tell that from numerous studies, most customers would like the option to sign up to a loyalty scheme. But they would not bother with it, if it was too complicated just to sign up. So your sign-up process should be simple, quick and pretty much integrated into the normal profile-making process. For example, when a customer wants to buy something or wants to create an account themselves, the option should be there to sign up to the loyalty scheme. It should be a mere box that one can tick, along with a link to the terms and conditions that open inside the page.
Rewards That Matter
What kinds of rewards would actually matter to your clientele? It totally depends on the demographics of your business. If you have most female customers between 18-60, chances are that clarks botanicals coupons will be a great gift to give them around easter or Christmas when they make a purchase. If you are a business that caters to men, between the ages of 18-60, then you could give them shaving cream or a Manscaped gift box coupon. Items that actually matter to them and want them to buy something from you just so they can enjoy the free gift is really important. Do not offer them a superficial gift such as entering their name into a local lottery on their behalf, etc.
Rules Are Needed
A loyalty must have rules so that it isn’t abused. The system should be easy to follow and understand. Put simply, your scheme should make it clear that only certain products will be acknowledged upon purchase to count as going toward benefiting the scheme. This is because you want to encourage customers to buy new stock, instead of older items.
This should be marketed as allowing customers in the scheme, exclusive access to new arrivals. Customers will feel special for being contacted with an offer to purchase an item that no other consumer has access to, at least for another 1-2 weeks. This is especially important during seasonal shopping times.
Customers do want to have loyalty schemes but they must mean something. It’s not good to have a half-baked scheme. The rewards should be given out promptly and only after the rules have been met. The most important point here is, to know your demography so the scheme counts for something they would like.