Oct 20, 2020
Tiered memberships are a hot commodity among enterprise companies that fully grasp the power of Loyalty Programs. Customers might appreciate periodic sales and discounts, but these are not the kind of perks that encourage long-term brand loyalty. Customers are more likely to engage with a brand when they have an emotional connection with the company’s products or services. One survey found that 76 per cent of consumers who forged an emotional connection with a brand used it for more than four years. A tiered membership can help you achieve this.
Tiered memberships, also called Tiered Loyalty Programs, offer customers different benefits based on rank. For instance, a 20-year customer likely would earn the highest level reserved for the most loyal brand followers. This is just one metric a company can use to establish tiers. A pre-determined number of benefits, Rewards, and services defines each tier. The idea is that as a customer advances up the ‘ladder,’ they earn more benefits.
Tiered memberships allow companies to reward their ‘rockstar’ customers who are loyal to the brand and engage with it frequently.
Tiered memberships are based on customer behaviour. Businesses that wish to offer consumers this type of offer, will need to rely on user segmentation and pricing methods to determine the best formatting.
When identifying the most appropriate tiered membership style with EonX, it will most commonly will be based on the following:
Tiered Loyalty Programs are popular because they help form a strong bond between a brand and its customers. The return on investment is worth the time spent on creating and maintaining one when it is implemented correctly. Here are some of the benefits businesses will enjoy with a Tiered Loyalty Programs.
Attracting customers to your products and services is only one part of the equation. Engaging with consumers via an innovative Tiered Loyalty Program helps strengthen the relationship between the brand and the consumer. Customers will feel a sense of excitement and accomplishment every time they earn a new status.
Adding privileges to upper tiers, like free delivery, extended return periods or exclusive product options, drives consumer engagement. Customers will be driven to earn those special benefits so they can count themselves among a company’s ‘elite’ brand loyalists.
Customer-centric companies understand the value of truly getting to know their customers. Using a Tiered Loyalty Program provides access to patterns of behaviour among a brand’s clients, allowing an inside look at what matters most to them.
Tiered Loyalty Programs work best when they drive brand awareness and customer engagement. The ultimate goal is to create brand loyalists who cannot wait to earn the next VIP status with their favourite brand.
Gamification can be used effectively to accomplish this goal because it taps into engagement and motivation through consistent, and relevant communications. Customers who start at the bottom tier are inspired to compete with their fellow brand enthusiasts to reach VIP status at top speed. The tangible benefits associated with reaching a new level prompts consumers to regularly interact with a company.
Gamification can boost participation in Tiered Loyalty Programs in several ways:
EonX’s Engagement Engine supports the inclusion of gamification into tiered memberships. Our specialists can work with your company to design a unique Tiered Loyalty Program that incorporates the power of gamification.
Employing best practices when incorporating a Tiered Loyalty Program is crucial to its longevity. Companies should:
Ready to increase customer engagement? Our specialists at EonX can help get your company started down the right path.
EonX’s white-labelled loyalty, engagement, and payment platforms allow companies to more easily engage, Reward, and incentivise their customers. We do not believe in a ‘one-size-fits-all’ mentality when working with clients to create a Tiered Loyalty Program. Our team examine client demographics to provide recommendations for personalised experiences with a company’s branded ecosystem.
Consumers will feel appreciated and motivated to advance through the levels when EonX’s platform is involved in the process. Get in touch today to learn more.
Aug 19, 2021
Why a customer loyalty program is a must for your business
A Customer Loyalty Program will help you unlock the secrets to your customers key demographics and buying habits – thus enabling you to understand your target audience inside out and paving the way for exponential growth.
Jul 01, 2021
3 Reasons you should tier your loyalty program
Tiered loyalty programs influence consumers to achieve, whilst driving specific actions, behaviours and transactions. Read on to find out the 3 top reasons you should tier your loyalty program...
Jun 24, 2021
5 Best practices for gamification
Gamification is a powerful way to increase customer engagement. Click here to learn about 5 best practices for gamification to implement in 2021.