Implementing a rewards program for customers similar to rewards programs Lift & Shift: reward programs for customers can be a great way to keep your clientele engaged. It’s also a great way to retain customers and build lasting relationships with enthusiastic buyers. No matter what industry you are in, offering your customers the opportunity to earn rewards when they visit your store is a great way to keep them returning. There are almost endless ways to incentivize repeat purchases, from frequent flyer miles to movie tickets;
Here’s a way to set up an effective rewards program for your clients.
Step 1: Consider The Kind Of Rewards
The first step in setting up a rewards program is to think about what kind of rewards you want to give. A reward could be a discount, free shipping, or even a gift with purchase. You should consider what type of rewards will be most attractive to your customers and make sure they fit within your company’s budget. You can also set up different tiers of rewards so that customers who spend more frequently receive higher discounts and gifts than customers who do not spend as much money with you. Such tiers can be;
- Bronze (new customers)
- Silver (customers with medium sales)
- Gold (major customers)
Step 2: Decide On A Reward Distribution Method
It would be best to tie rewards to purchases, and there are many ways to do this. You can use a points-based system, where every dollar spent earns a certain number of points and distribute rewards when customers reach certain milestones. Or you can tie the rewards to specific revenue milestones that you have set depending on the needs of your business at any given time.
You can distribute rewards by relying on customer feedback. While this strategy isn’t similar to tying rewards directly to purchases, it rewards based on the valuable feedback that you receive from your customers about themselves and their experience.
Step 3: Develop A System For Tracking Customer Points
To make a rewards program successful, you need to figure out how you will track your customers’ reward points. Of course, you do not want it to be complicated for your customers; they should be able to see their points at any time and redeem them quickly.
Consider setting up an online dashboard where visitors can view their status and redeem rewards to make this possible. The dashboard should include the following:
- A method for tracking purchases
- A way to track the rewards clients earns and redeem.
- A method for tracking unredeemed rewards (and the expiration dates of those unredeemed rewards)
Step 4: Educate Customers About Your Rewards
Once you have your rewards program in place, it’s time to let customers know about it. You can notify them via email, social media, and in-store posters and signs. Include a link in your emails where customers can sign up for the rewards program. Integrate the loyalty program platform to your online store or email marketing software if you have either. Send emails about the loyalty program automatically when new products are available or when customers reach a certain point level.
In addition to email marketing software for automatic loyalty program updates, you can send newsletters with special offers or promotions targeted explicitly to customers who participate in your loyalty programs and post them on your social media channels. You can also put up posters or signs at both locations, so everyone knows what they are getting into when they sign up.
Step 5: Set A Way Of Redeeming Rewards
Once you have set up your program, you need to ensure your customers know what new rewards they can earn. They should have an easy way to redeem their rewards and understand how the program works. You could create a sign or poster with a long list of all the benefits of doing this, but that will not grab customers’ attention. Instead, try something visual like a brochure or poster with pictures and descriptions of each benefit. For example, you can use a colorful infographic that’s fun to look at while clarifying what savings each benefit level offers (bigger numbers mean higher savings). This way, potential customers can understand what they’ll get from joining the program before signing up, hopefully encouraging them to do so.
You can make it dependent on how much you store or how often you visit a store. There are many different ways to reward customers for their loyalty, but the main goal is to show them that you appreciate their business and are happy to have them come back. Rewards programs are also helpful in building a customer database and retaining customers.
