Now that you have determined what you need in a customer loyalty program (and if you haven’t, we have a previous blog that can help – find it here) you will likely want to choose a provider to help you with the final design, implementation, and management of the program. There are several things to consider, based on what you know about your audience, budget, and business objectives. The perfect customer loyalty program provider should be able to answer your questions, meet your needs, and manage any hurdles that present themselves along the way from concept to implementation and beyond.
It’s a big decision, choosing the right customer loyalty program. On one hand, you want a program that works for you - that delivers the data you need about your core clientele and meets your business objectives. On the other hand, it must retain the customers you have and attract the ones you want. That’s a massive ask for any element of your business, let alone one that you likely have to hire out through an RFP to acquire. Below is a short list of things you and your team will want to consider before you start the process of looking for a customer loyalty program partner. What Are Y
The debate is as old as the concept of rewards itself- which is more effective: cash, or material things and experiences? There are solid arguments on both sides but now definitive scientific evidence, in the form of biometrics, puts the argument to rest. A 2016 study commissioned by the Incentive Research Foundation (for a deep dive into the study, you can find it here) asked which type of reward (cash or material things/experiences) people unconsciously reacted to most strongly. You read that correctly. It measured their unconscious reactions. Even though people may outwardly say they
Whether you are a believer in fortune-telling, or psychic readings, we’ve all had our future predicted – possibly as recently as today – through predictive analytics. Think about the last time you ordered an item online. Were you presented with a list of items other customers were interested in when they purchased the same thing you just bought? That’s predictive analytics - taking data that exists from previous events and using it to determine what might happen next- and it’s a critically valuable business tool. Using what you know about your customers and comparing it to previous behavior
The internet, for all its advancement and for all of its flaws, has enabled businesses to do something they’ve never really been able to do before: connect with their consumers, quite literally, on a one-to-one level. While those connections might not always be literally human to human, even a “bot”-to-human connection can feel very real to the loyal consumer, if handled properly. Making that emotional connection with your customers is increasingly critical to retaining them and turning them into what we refer to as “raving loyal fans” of your brand. Catherine Walts is Marketing Manager at
Attracting customers is a challenge every business faces. Keeping customer's loyalty is part two of that challenge and studies show that, perhaps surprisingly, it is more expensive to attract a new customer than it is to keep a customer you already have. Creating customer loyalty is a real science. The traditional “buy five sandwiches and get the sixth free” punch card mentality that some companies employ just isn’t enough to keep your consumers engaged. So how do you engage with your customer base beyond the purchase transaction, and what are the ways your company can benefit from an en