In today’s market, competition in various industries is so large that it is hard to find new ways to maintain loyal customers. Incentive reward programs, are a great way to entice customers buying your products, as they feel appreciated and respected. So, how exactly do you reward them? Here are 7 ideas for a customer loyalty program:
- Rewards Cards: This simple card-based method is a great way to start a customer loyalty program, typically for a small business. You can use plastic loyalty cards that can be swiped at each purchase to track consumer spending and other data.
- Discount Programs: Probably one of the most common loyalty programs, and most successful. Rewarding your customers’ loyalty with discounts on future transactions is a great incentive. You reward rewarding rewards based on purchase amount, number of items bought, or on a pre-determined purchase amount within a specified time period.
- Give a Gift: Everyone loves to receive, so why not give gifts to your valued customers to show you appreciate their loyalty. For example, offer gifts or coupons relevant to dates they purchase your products.
- Implement a VIP Program: Let valued customers know they are eligible to sign up for exclusive VIP programs that can give them special rewards. These programs could include discounts; special sales and promotions just for them: invites to special events; or advance notice of on-sale items. This can be done through a VIP email or newsletter.
- Mobile Applications: New programs and apps on mobile devices or the Internet are great ways to enable your customers to be rewarded. They are quick, convenient, and easy to use. These apps are customizable to each company’s rewards program and can also help keep track of customer data.
- Hold Events: Hosting special events for loyal customers are a great way to reward their frequent purchases. Maybe open your business at special hours for them to shop or invite them to a private event for only your most loyal customers to. These ideas are relevant and limited to your business.
- Get Personal: Depending on costs and the size of your business, sending a personalized note of gratitude to valued customers is a great way to show appreciation. Especially in today’s digital world, these methods are effective and help the customer remember your business before your competition.
Appreciating customers is a valuable and necessary part of owning a business. To find out how your company can excel in this area, contact an agent at Incentive Solutions today!