Excellent Discount Alternatives to Engage and Retain Valuable Customers
- Posted on June 8, 2022 by Robert
- Reading time about 5 minutes
Acquisition and retention are the two major challenges every brand or merchant go through during their product sales and marketing. To bring in more customers on boarded , there should be something to reward them and make them feel they’re valued enough. However, most of the brands already have their strategy line ready to launch with mostly consisting of discount campaigns, limited percentage discounts, end-of-season sale and much more.
While, everything we see revolve around just one aspect of rewarding- Discounts! A survey by loyalty lion states that 76 percent of consumers say that discounts make them feel positive about brands, the similar respondents say that they feel positive about brands that are offering early access to sales or priority access to new products. But, what if a brand does not want to offer discounts, is there a customer retention program which can offer meaningful discount alternatives for customers? Maybe there’s something in store if you connect with the right loyalty solution provider. In this article, we will study and explore six discount alternatives that can make customers feel good about the brand and increase loyalty as well.
1. Loyalty Points and Rewards
Ever heard about loyalty points programs? They’re quite a name in the loyalty industry, with a survey stating that 77 percent of customers feel positive or very positive about the brand that is providing loyalty points that are redeemable against future purchases. Point-based programs provide a wide variety of options to the customers wherein they can have multiple redemption options continuing or carrying customer lifecycle. On making a decision on whether one should be joining a loyalty program, 69 percent of consumers say that the loyalty points and rewards are a major decisive factor. Equally on the other hand,69 percent of respondents said that loyalty points are the key to make them return to a brand they’ve purchased something recently. A point-based program works on the principle of earning points on regular brand-purchase transactions or anything including event participation etc. the accumulated reward points can then be redeemed accordingly against various options available.
2. VIP Access to Sales/ New Products
Providing early access to sales or VIP access on launch of new products provides a sense of personalization to the customers and is a reliable way to drive commendable positivity to your brand. Though 70 percent of consumers feel positive about the brand where they’re getting VIP or early access to sales and newly launched products as well. Agree or not, it is highly imperative to balance discounts with experiences for existing customers, it can be easier for customers to have a feeling of being valued on getting early entry to purchase new products or get a sneak-peak in the limited addition product launches.
3. Charitable Contribution
Today, many loyalty brands are already keeping their feet firm by introducing donations and charity. As per a survey 67 percent of consumers feel positive or extremely positive about a brand that provides them with the opportunity to contribute to charitable initiatives that are aligned with their personal values. Though 62 percent state that this opportunity for supporting charitable initiatives would get them to make a purchase. Today, consumers are more mindful and are always prioritizing the brands which are synced with a social cause or connecting with a brand on an emotional level. Make it the right way and let your consumers find you.
4. Insider Community Membership
Brands have their in-house community to help the people connect with each other, it is often called Insider Community. Survey states that many consumers find having a membership to an insider community quite enticing and build a relationship with the brand on a regular basis. 55 percent of consumers appreciate a brand and feel positive about the same who are providing them with membership to a private community. While 54 percent of consumers say that they would remain loyalty to a brand if they’re a part of a like-minded community within the brand consumers. That seems an excellent way to give brand’s most loyal customers membership to a VIP community that packages all their alternatives of discounts on a single place.
5. Free or Discounted Shipping Options
There’s no deny that the word Free adds an extra layer of connection bridging a consumer and a brand81 percent of consumers are quite positive towards a brand that offers free or discounted shipping on every purchase, especially the ones without a minimum value researches and surveys indicate that this is one of the most imperative factors in driving consumer positivity. Discounted shipping on a few orders or free shipping on regular purchases makes consumers feel lucrative and make multiple purchases as they are paying only the amount which is spent on their product or service purchase rather than spending extra bucks on the shipping each time they’re ordering from a brand. It replicates a feel-good factor without letting a brand cheapen the prices of their products. That’s a win-win situation both for a brand and their customers as well.
Whatever makes your customers stay interested in your brand is of a great use and serves a huge purpose. Consumers are the lifeblood of any business and their spending turn as a brand’s profit. But offering them just discounts cannot be the right solution in the long run. It is important to run some alternatives to discounts which can provide the customers with better options, more emotional connect and a positive sense of personalization. Why not have it integrated in your business? There’s a lot to checkout. We hope this articles has served it purpose and have educated you to add in extensions to your business and integrate loyalty at every step. Drive exceptional sales, positive sentiments and repeat purchases through substitution the traditional way to connect with the customers and offering them rewards in the long run. Develop long turn relationships with your customers through alternative discount options for your customers.