Planning a New Customer Loyalty Program: 5 Things to Consider
A customer loyalty program can help you to drive engagement and boost customer value in the long term. But putting a loyalty program together, and implementing it with success, is still a big project. Here five things to consider when planning your next program.
Why does your business need a loyalty program? You need to be able to answer this question in a well-defined manner so that you can implement a program that really benefits your business.
Of course, customer loyalty programs achieve long-term engagement from your customer base. But they can do more than this too. Consider what other actions you’d like your customers to take when they sign up for your loyalty program.
In order for your loyalty campaign to be successful, it needs to be attractive to your customers. Otherwise, they are not going to complete the actions you want them to. This means you need to understand what your customers are responding well to, what they want to see, and what they need.
To achieve this, you need to turn to data. Which products or services are the most popular with your customers? What is your target audience engaging with on social media? Have you published a piece of content that has been particularly resonant with your customer base? This data will give you insight into the additional support or added extras you can provide to your customers as part of a loyalty program.
It’s not always easy to understand how a customer loyalty program will benefit the business long term. Without an additional perspective, you may not be able to identify the key opportunities, advantages and objectives further down the line.
This is why working with business stakeholders is so important. You’ll gain a wealth of different perspectives that help you to flesh out the form you want the loyalty program to take, as well as the key benefits you will be able to reap as the program develops in the future.
Now that you have a better idea of what you want to achieve and what your customers are going to respond well to, you need to find a provider to help you put this into action.
Take your time to shop around and find a loyalty provider with programs that match your needs. It could be that you find a loyalty program that meets all your criteria right out of the box. Or it might be that you need to design something a bit more specific and tailored to your needs.
You need to be communicating with your customers well in advance of the launch of your program. This is a big step for your company, and its success relies upon the uptake from customers. If they do not know about the program, or if they are unclear on exactly what it means or how it benefits them, life is going to become difficult for your organisation.
Make sure your communications are delivered in a timely, clear and effective manner. Plan your campaign ahead of time so that you know precisely when and how you are going to reach out to your customers.
Here at EonX, we offer ready-to-go loyalty solutions that can provide your customers and your business with what is needed. However, if you want something a little more tailored to your specific objectives, we also deliver bespoke programs to match client business and budgetary needs. Reach out to our team today.