Did you know that it will cost you more to get your new customer to retain old age? This can cost you more than 5 times. Did you also know that existing customers spend 67% more than new customers? So what can you do to keep new customers coming back? You can do this through customer loyalty program strategy. Here are some effective ideas you can use.
- Point system
This loyalty programme is easy to implement and sure you’ve encountered this before as this is very common. With each purchase, customers earn points and when they reach a certain point they get a certain reward. Now, make sure to make everything simple as there are some companies that fail to implement this program correctly; they confuse their customers. The points are combined with an accessible reward system. For example, if they spend a certain amount of money on your company, they get something free. This is. This type of loyalty program is ideal for companies that encourage or encourage short-term purchases.
- Non-cash loyalty programme based on your customers’ values
One way to communicate with your customers is by knowing their values, helping them or rewarding them based on these values. Sometimes, discounts and cash rewards are not reduced. They realize that their customers need more than just discounts. By doing so, you will win immediately by meeting your customers. So get to know your customers more and design a program based on their values and needs.
- Partner with other companies
This is also referred to as alliance loyalty programme. This is an effective way to keep your customers. But, again, this requires a careful understanding of your customers’ values and purchasing process. This will help you identify which company to share with. Remember, this program does not require a lot of money until it is executed. You only need to understand how customers use your products or services.