Effective Tips & Tricks to Develop a High-Performing Loyalty Program for Your Store
- Posted on March 24, 2023 by Robert
- Reading time about 6 minutes
We live in the world of competition where businesses are struggling to make a place and win customers’ hearts. Finding loyal customers is one of the essential tactics to ensure the success of your business. However, you need to set up a robust loyalty, which is unique and offers exclusive loyalty rewards that your target audience is looking for. As there are many loyalty programs available in the market, customers have wide options, increasing their expectations from the brands they are associated with.
Before you hire experts from the leading Gift Card Loyalty management software for small business and enterprises, we will discuss everything you need to know for building a high-performing loyalty program & gain a competitive advantage.
How to Build a Successful Loyalty Rewards Program?
Though developing a loyalty program that can help your business store is not child’s play, the right strategies and tips can help you win customers’ hearts and make them stick to your brand for a long time.
The following steps must be kept in mind to ensure the success of your loyalty program-
1. Know Business Goals & Timeframes
The first step before building a loyalty program for your store is to identify the goals you wish to achieve through your program such as how frequently you want your customers to purchase, how much you want to increase average order size, more customer referrals, etc.
After knowing the objectives you want to fulfill from your loyalty program, you can focus on building the design of the program of your choice that can help to drive better results in lesser time.
2. Choose a Suitable Rewards Structure & Points
Another important aspect is to pick the most suitable rewards offering that will work best for your customers. The type of rewards program you choose will help you meet the objectives. Here are the common rewards program types that you can choose from-
– Points-based Rewards Program
This enables customers to earn points with every purchase order and makes them redeem points for prizes or discounts.
Through this program type, customers get better and better perks as they reach higher levels.
– Referral Loyalty Rewards Program
This program reward existing customers when they refer other people who are willing to make a purchase, increasing new customer count and revenue.
– Tiered Discounts-Based Program
Using this type, brands can offer discounts based on the amount customers spend
3. Work with the Right Loyalty Platform like Novus
With so many loyalty platforms available today, brands and merchants often get confused about which one to pick for their loyalty program development. Take time to analyze your need before choosing the platform so that your customers can register for the program effortlessly.
Novus is all-in-one loyalty management software that helps several merchants and businesses to set up loyalty programs suitable to their industry needs. You can opt for both free and paid programs while building the loyalty program, we recommend you conduct some market research and your target audience needs before making a decision. For any doubts about choosing the right program offerings, you can reach out to the experts of the Novus Loyalty Team.
4. Implement the Tailored Loyalty Program
The next step after choosing the loyalty platform is to design the loyalty program based on your target audience’s needs and preferences. Make sure to consider all the necessary graphics and copywriting materials for the promotion of the program. The most important part is to build the program in such a way that it is easy to understand customers and they shouldn’t face any challenges to knowing how it works and the benefits they will earn after registration.
Integrating a mobile wallet into your loyalty program will help customers to keep track of their earnings and redemption history. Novus is the best choice if you are planning to hire experts from the trusted Mobile Wallet Loyalty rewards software.
5. Promote the program in the right way
With effective promotion and marketing tactics, no one would know about your program. Here are some of the sure-shot ways to increase awareness and boost engagement with guaranteed repeat purchases-
– Dedicated Landing Pages
Make sure that you create a landing page with every detail about your loyalty program, ensuring that customers can learn about the program with ease. The page must include information like how to earn points, rewards they can receive, how to redeem points, etc.
– Email & SMS Marketing
Another way is to promote your loyalty program through emails or SMS showcasing the benefits they will get after joining the program. You can do so by including program information at bottom of each email and SMS marketing with automated welcome messages on joining or reaching milestones.
– Sign-Up Page
Having an easy registration page where customers can quickly join your loyalty program is a must. Make sure that you link it from your checkout page or other pages helping them become aware of the program & register easily.
– Social Media Platforms
Most customers are active on social media networks, which is why creating appealing posts and content about your loyalty program before posting it on social media is needed. Make use of unique hashtags related to your program with images, videos, stories from loyal customers, etc. to grab customers’ attention.
– Influencers & Cross-Promotions
Many top influencers are there that are ready to share stories, photos, and videos with the experience they have had through your loyalty program. Partner with brands as well that are ready to do cross promotions where both brands can get shared customers.
– Blog Signposting
Consider signposting your loyalty program throughout the website so that more and more people are aware of it when they visit different pages during their shopping journey. Also, you can add banners, pop-ups, etc. for the promotion of your program.
6. Track Performance & Upgrade if needed
Your task doesn’t end with the loyalty program launch, you need to optimize the program over time after gaining insights from customers ‘behaviors and preferences. Take time to review your loyalty program performance metrics such as redemption rate, engagement level, and more.
The timely review helps to ensure that the program is working as intended and is providing value to both customers as well as businesses. Introduce new offerings to boost engagement & make changes in current point values or reward offerings to increase program participation.
Hopefully, after going through the blog it is clear that choosing the right loyalty program is the key to boosting customer engagement and enhancing their buying experience with exclusive benefits like discounts, points, activities & more. With well-planned strategies, your loyalty program can do wonders giving you the immense potential to unlock higher revenue year after year.
Known as the expert loyalty management & Cashback Loyalty rewards program software, Novus holds pride in delivering custom-made programs built to meet specific needs to reap long-term business results. To learn more about Novus and its pricing plans to help you get started with the program for your store, book a demo with our team today!