You have seen many companies prompt their loyalty program and getting thousands of members to sign up and perform repeat purchases. If your business is also large scale and ready to adopt such a model, then you are in the right place. In this article, we will show you, step by step, what you need to do to build a loyalty program completely from scratch.
- Understand your audience
Before you can build out your program you will need to perform in-depth research on the customers you are trying to attract. What makes your audience want to buy your products? More importantly, what would make them return to your store in order to buy more? The answers to these questions will give you guidance to start your journey of success.
- Who is gonna be making the loyalty program?
Building up a loyalty program from scratch takes some serious funding and technical knowledge. And that’s not just for the building process but also for the maintenance which needs to be done on a monthly basis. To make things easier we have found a solution that may work best for you.
By using Retail CRM Cloud, enterprise businesses are able to build out a complete loyalty program based on a tiered point-based system. The process is simple to understand and you will build the program with the help of experienced developers who have done so for a large number of clients. The process is at least 10 times cheaper than building out your own program and, by knowing what your target group needs, it could take a matter of days to set things up successfully.
- Promoting the loyalty program
After creating your loyalty program, it’s time to promote it. Most businesses give at least some sort of discount or reward to customers that decide to sign up for future purchases. You could do the same, and offer something that your audience would really love to use. If you are a retail store, you could also just give a gift card that they can redeem in-store.
- Measure success
Finally, it is important to see how your loyalty plan is performing. On specific timeframes, measure both the traffic of your store and the conversion rates to understand if the CLV of existing customers is increasing. You can also send out surveys to your customers to get valuable feedback. Based on these things, you will be able to adjust the program and make it even more luring for new subscribers.
Loyalty programs are not as simple as one may think, but they are worth the effort. By increasing repetitive purchases, your business becomes more profitable and successful. In this article, we showed you all the steps you need to follow to get to a great bond between your brand and your customers. Make sure you apply the lessons herein and watch your company grow to success. After all, loyalty is the way of the future, and businesses that ignore this will be left behind.