Last week we talked about communicating Frequently with clients and personal connections by doing the following: writing handwritten thank you notes, remembering birthdays, and educating Your Clients. We also encouraged everyone to try the 30 Day Gratitude Challenge. This week we are going to move forward with strategies 2-6 on building relationships. Here's strategy #2: Offer a Rewards.
Customer loyalty or reward programs work well for many types of businesses, from retail to cruise and travel. The most effective programs offer graduated rewards, so the more customers spend, the more they earn. This rewards your best, most profitable clients or customers and cuts down on low-value price switchers-customers who switch from program to program to get entry-level rewards. Whenever possible, offer in-kind rewards that remind your customers of your company and its products or services.
Does it make sense for your business to offer a loyalty program?
It depends on what industry you're in. For retail stores, restaurants, and travel companies, maintaining a customer rewards program is almost a necessity to stay competitive because programs are so widespread in those sectors. A business that deals with customers on an infrequent basis, such as a repair service or landscaper, might not be able to get enough return visits to warrant offering a discount or a loyalty program but businesses that have infrequent customers benefit greatly if that loyalty program went hand-in-hand with a referral incentive which we discuss further. Before engaging in a rewards program Your company should have a little bit of data on your customers like how much are your best customers spending on average and how often do they use your services? Targeting your most loyal customers first is a great place to start.
Referral Programs: Help Them By Referring Them to Others and Have Them Refer Others to You!
Return traffic isn't the only purpose of a loyalty program. A tax attorney, for instance, can use a rewards program or loyalty discount to encourage customers to refer more clients. For most customers, referring a friend to experience great customer service is a natural thing. Sometimes just the quality of the product is enough to get a customer ranting and raving about the experience they had just using the product. Whatever your strategy, you want to provide an "Ultimate Brand Experience" which is that your customer will go and buy something from your company even if they don't need it. They've got to have your products and/or services based on their friends experience of using it.
May I recommend a resource that will not only help you say "Thank You" in the most traditional way, but also allow you to attach a reward! Send Out Cards is a concept and service that is changing people's lives and businesses through giving. You can send a printed greeting card with your appreciation message in less than 60 seconds. Allow Send Out Cards to print it, stuff it, and mail it all for less than a greeting card at the store. You can also attach a gift and/or gift cards to your appreciation card all in the same transaction making loyalty programs and referral programs simple to execute and manageable.
1 comments:
Yeah its true that if you are dealing in retail, cafe and travel than it become mandatory to run loyalty or rewards program to retain the existing customer and as well as to attain new on too. These program will definitely helps to promote the business.
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