2020. 3. 5. 06:52ㆍ카테고리 없음
. 73 percent of loyalty programs members are more likely to recommend brands with loyalty programs they like and use (source: Bond). Recipients of restaurant loyalty rewards are twice as likely to refer a new customer immediately following a reward redemption (source: Thanx). 77 percent of smartphone users say they are more brand loyal to companies that send points, surprises, exclusive content and birthday surprises via their mobile device (source: Vibes).
64 percent of the affluent middle class belong to a grocery store customer loyalty program to save money (source: Collinson Group).
How Do I Start a Customer Loyalty Rewards Program?Companies in every industry — from apparel to electronics to beauty products to automotive and everything in-between — are competing for the same consumers, but the most successful companies have realized that retention is critical.Studies have shown it’s between to acquire a new customer than it is to keep an existing one. In fact, even if you improve your retention by just five percent, you could see an increase in profit of.Whether you’re an or an established digital superstore with a loyalty program that needs a facelift, we’re here to share what you need to know about eCommerce loyalty programs and how to start a customer loyalty rewards program for your own eCommerce store. What is a Customer Loyalty Rewards Program?Though reaching a larger audience and is a piece of the puzzle, being able to is how you achieve lasting, long-term success.
After all, returning customers than first-time customers, and roughly 80 percent of your future profits will come from just 20 percent of your existing customers, according to.If there’s so much to gain from repeat business, how do you encourage customers to return and make more purchases? Since are inclined to stick with brands or businesses that offer customer loyalty programs, starting your own eCommerce loyalty program is an effective way to boost retention.Customer loyalty rewards give customers the ability to earn points or credit by making repeat or higher-volume purchases, or for other behaviors a company may want to incentivize. As for specific rewards, customers can earn things like merchandise discounts, coupons, advanced access to products that haven’t yet been released, or any number of other special benefits.Customer loyalty programs benefit both the customer and the company. The customer benefits by earning perks and the retailer sees repeat business (and increased profits) from customers who want to earn those perks.Among a number of different loyalty programs, there are three types that are most effective for use as eCommerce loyalty programs. Get industry-leading tips on growing your store. To the Liquid Web eCommerce newsletter and get content like this sent straight to your inbox. Best Customer Loyalty Programs For eCommerce.
Points-based loyalty rewards programs. Tiered loyalty rewards programs. Subscription-based loyalty rewards programsPoints-based loyalty rewards programs are a common type of loyalty program that assigns a certain point value to each product, service, or transaction. The points accumulate as the customer makes purchases over time and can be redeemed for rewards.
An example of this type of loyalty program is. Each purchase earns points, or “Stars,” that can be redeemed for a free drink or snack.Tiered loyalty rewards programs are another common type of customer loyalty program. In such a program, each tier is associated with either a cumulative amount spent, a number of transactions, or a number of products purchased over a period of time.
The perks get better with each tier, which incentivizes customers to make more purchases so they can access better perks. Tiered loyalty programs are commonly (but not exclusively) offered by hotel chains such as, and.Subscription-based loyalty rewards programs — also known as fee-based rewards programs — offer access to perks for an up-front fee, often paid annually. Is a subscription-based loyalty program, costing $119 per year for perks like free two-day shipping with no minimum purchase, exclusive savings during the company’s annual Prime Day, and access to Amazon services like Prime Video, Prime Music, and Twitch Prime.There are other types of customer loyalty programs, too, including value-based programs, cash-back programs, and coalition programs, but these are either difficult to implement or less effective for eCommerce. Benefits of Customer Loyalty ProgramsIn summary, customer loyalty rewards programs are beneficial for three fundamental reasons, which are:Retention: Customer loyalty rewards programs are an effective tool for businesses to improve retention. Since these programs offer perks, customers are encouraged to continue making purchases to either take advantage of their existing perks or to gain access to even better perks.Referrals: When customers earn valuable perks from a loyalty program, they often share their good fortune with family and friends who might also sign up for the program to experience those perks for themselves.
Customer Loyalty Reward Program
Members of your rewards program can become your brand crusaders, driving more growth and revenue than advertising.Cost Effective: It’s simply less costly to invest in a customer loyalty rewards program that keeps existing customers coming back than it is to gain new customers through marketing. Important Customer Loyalty Program ConsiderationsLoyalty programs can be an invaluable tool for your eCommerce store.
However, if perks are too hard to earn or don’t offer enough value, there’s no incentive to be loyal to your store, meaning less repeat business.Here are some important considerations as you’re creating your eCommerce loyalty program:. Attainable vs. Aspirational. Short-term vs. Long-term value. Generosity stands out.
Be wary of loyalty killersAttainable vs. AspirationalTake your time to figure out how the tiers will work if you choose a tier-based program. Customers should be incentivized to make additional purchases by the perks of higher tier levels, so higher tiers should be aspirational and not too easy to reach. But if the upper tiers are too difficult to reach, your customers could get discouraged and may not even try to reach those tiers.Short-Term Vs. Long-Term ValueSingle-use coupons and discounts are short-term benefits commonly associated with points-based rewards programs. They can be both earned and used quickly.
However, long-term perks are aspirational. Long-term benefits tend to involve achieving a higher tier or unlocking a certain status to earn perks of increasing value.For example, customers might unlock special pricing or gain access to exclusive products as they ascend to new tier levels. Make sure your customers’ shopping habits should match the type of value and perks your offer through your loyalty program. Generosity Stands OutThe most generous loyal programs are the ones that get the most buzz, both from your customers and the larger industry in which you operate. In fact, a generous loyalty program can be a major draw for new customers while also making your business more competitive. Ultimately, you want your customers having such positive experiences with your loyalty program that they become crusaders for your brand.
Be Wary Of Loyalty KillersYour eCommerce loyalty program should always work for you, never against you. Some of the specific loyalty killers to avoid include:. Reward delays (i.e. Lapses of time between earning and receiving rewards). Customers not receiving rewards they should’ve received.
Excessive or irrelevant communicationsHow to Start Your Customer Loyalty Rewards ProgramThough starting your own eCommerce loyalty program may sound complicated to implement, it’s actually easier than you might think.Step 1: Pick a Catchy NameWhile it’s true that a rose by any other name would still smell as sweet, your customers will hear the name of your rewards program before they ever smell the sweetness of its perks. For this reason, taking some time to choose a name for your eCommerce loyalty program, something memorable and catchy, is the first step.As you brainstorm, try to think of names that play off the imagery of your logo or your brand, business, or site name. Additionally, it’s a good idea to choose a name for the rewards “currency” your customers will earn, or to pick names for the tiers they’ll strive to hit.
For example, customers enrolled in Starbucks Rewards earn “Stars,” which has much more personality than simple points. Step 2: Choose a Loyalty Program TypeThere are pros and cons to each type of rewards program, so you’ll need to consider the purchasing habits of your customers to make the most appropriate choice. For example, a points-based program that offers short-term perks is ideal if your customers make frequent purchases with a relatively low average transaction amount.Alternately, if your eCommerce store offers a vast catalog of products or services, a subscription-based program that offers continuous discounts or perks like free shipping might be the best option. Step 3: Invest in the Right InfrastructureInvesting in some infrastructure is the next step toward rolling out your own eCommerce loyalty program. More specifically, you’ll need some type of software, plugin, or a third-party service to implement the program.For example, WordPress plugins like are ideal for.
Using Gratisfaction lets you quickly and painlessly add a customer loyalty rewards program to both the customer-facing front end and admin-facing back end of your WooCommerce store. Step 4: Offer Perks That Your Customers ValueWhen your eCommerce loyalty programs offer perks that your customers would legitimately love to get their hands on, there’s immediately a compelling reason to participate in the program. It’s even better when the perks your offer aren’t available anywhere else.
Don’t offer the same coupons your customers can find on sites like RetailMeNot.