Gone are the days when you could lure customers with discounts. While discounts and perks are significant, they’re not enough to retain customers and make them buy from you repeatedly. If you want to keep your customers, you need to get them to trust your brand. Customers who have developed the trust in your brand will spend more.
A study by Adobe revealed that loyal customers spend 67% more on a brand than new ones. The question you must answer is, how do you build a loyal customer base? Enter customised customer loyalty programs. Visit website of providers to know all about an excellent program on the market.
A program tailored specifically to a customer needs offering them unique benefits that they cannot get anywhere else. Here are the ways how customised customer loyalty programs can strengthen your brand:-
Creates an Emotional Bond with the Customer
Loyal customers aren’t with the brand just for the rewards. They’re with a particular brand because they get an experience that they won’t get with any other brand. Customised loyalty programs go beyond discounts and make customers feel special, just how they’d like to be treated. It is an emotional connection that customers feel with the brand.
Nike’s customer loyalty program is a brilliant example of how well the brand connects with customers. If you buy Nike’s running shoes or are looking for them, the customers under the loyalty program will get content and messages relevant to their search and tailored to their likes or dislikes.
Increased Revenue
According to the Adobe study, it costs five times more to attract a new customer than to retain an old one, and as pointed above, loyal customers spend more, thus boosting the brand’s revenue and profits.
Gather Valuable Data
Modern customers of today prefer a personalised experience. You can encourage customers to enrol for loyalty programs by filling out their profile details, likes, dislikes, preferences, etc. This data can be used to develop personalised communication with consumers. It can also help create targeted campaigns, implement referral programs, and even offer them useful and engaging content to strengthen their bond with the brand.
Personalisation is so important today that companies like Amazon are using AI and machine learning to track customer behaviour and preferences.
Easy to Track and Measure Customer Engagement
Loyalty programs make it easy for brands to monitor and track important metrics like the program’s effect on sales, customer engagement, repeat purchase rate, purchase frequency, etc.
For more details on how a customer loyalty and rewards program benefits the business, visit this website.
In today’s competitive world, customer loyalty programs give you the edge you need to compete against mega-corporations that can afford to play on the price. It benefits both customers and the brand.
Brands get to retain their customers, and customers get to enjoy enticing rewards that will make them come back for more. They can expect a curated, personalised shopping experience that anticipates their wants every time they come back.
