Stats say repeat customers can generate 40% of a store’s revenue. One way to keep your sales and revenue rolling is by making your customers repeat your services. You can increase your customer retention rate by using effective loyalty programs.
Drive More Repeat Buyers from your eCommerce Loyalty Program.
How do you make an eCommerce loyalty program successful that helps with customer retention?
Take these five points as starters:
Create something different
Now, every brand and retailer is providing loyalty rewards. Hence, creating something that makes your program different would be best. You can differentiate your program in many different ways. You can add surprise gifts, rewards, or tiers focused on your brand value.
- Tiers- It has been found that customers are willing to shop more if they feel that they belong to a higher level of loyal programs. The tier system is founded based on customers’ loyalty. Customers who are more loyal to your brands will get greater rewards. Customers will feel more appreciated through this tier-based loyalty program. You can name the tiers based on the niche of your company. This loyalty program will help your brand be at the top of your customer’s minds. You can add a percentage to each tier to motivate members to reach higher levels.
- Surprise gifts- If you get your customers occasional surprise rewards, they will feel appreciated. Moreover, they might want to come back to your website. Unexpected rewards like a certain percentage off on all products will make your customers feel special.
- Rewards based on your brand voice- You can also create rewards that echo the values and voice of your brand. If your brand values resonate with your rewards, customers will be more willing to believe in your company. This will again help in building a stronger bond with your customers.
Improve your customer service.
According to HubSpot research, 93% of customers are likelier to repeat a buying decision with a company with great customer service. Hence, if you create an eCommerce loyalty program for your business, ensure your customer service is on point. Mary, the marketing manager of an assignment help company, said, “You should ensure that your executives are very responsive on chat, phone, or any other mode of communication you choose to use.” An excellent customer support system will help you make the customers happy. And happy customers are more likely to support your business.
Make it personal for the customers.
Every customer likes to feel valuable to a company. Hence, you should personalize your loyalty program. You can see a special loyalty program offers to customers’ birthdays. Other than this, you can also provide suggestions to your customers based on their current purchases or product views. Thus, your customers will get a unique loyalty experience. This will make the program more successful and increase customer retention rates.
Add a charity cause to your program.
Today, most consumers judge a company based on its society or community contribution. This often affects the buying decision of the consumers. You can include a charity caution in your loyalty program to make it more popular among customers. It is not necessary to include discounts every you create a loyalty program. You can include the values your business shares in the loyalty program. This will help in establishing a strong bond with your customers. Consumers are more likely to return to a brand and spend money if it involves a good cause. Customers will become brand loyalists if you prepare your loyalty program considering mutual values. Hence, you can make a loyalty program where your customers to donate their rewards to any charity or welfare organization.
Incorporate feedback into your loyalty program.
Learning your customers’ thoughts about your company or program will help you improve your services. Feedbacks are essential for marketing and product research and developing buyer personas. You can also use the same to create your loyalty program. By listening to your customers and incorporating their advent into the program, you show that you care about them. You should include rewards for completing surveys ch other non-transactional engagements.
If you create an effective loyalty program, it won’t be an issue for you to retain your customers. Use the above pointers to prepare a perfectly-crafted loyalty program for your eCommerce business. However, it would be best to remember that you must be true and loyal to your customers and provide them with value for their money. This will only encourage your customers to become loyal to your brand.
Shirley Brown is the senior marketing manager of a reputed MNC. She has also helped many well-known brands and students with CPM Homework Helper. She has received different awards for her contribution to the marketing world. In her leisure time, she likes to hang out with her friends.