Loyalty Programs: What you need to know
One of our most basic services is our Loyalty Program. Through it, you have the ability to offer Rewards that are tailored to the specific interests of the many people who interact with your brand and your business. If you focus on providing value to your people, their loyalty will go hand in hand. Brand loyalty doesn’t have to be a foreign concept or a marketers far fetched dream. It can be achievable. You just have to be willing to turn your gaze (and allocate resources) to customer-centric practices.
The main premise of a Loyalty Program is to gather vital business data. This means that anytime a member, customer or employee interacts with the Loyalty Program, it’s tracked. If users engage with a Loyalty Program in the way the business wants, then they will be rewarded and their engagement will be recorded.
Loyalty Programs can be set up to accomplish the following:
- Collect information from customers that fill out surveys and feedback forms
- Encourage people to promote your services and products via social media
- Motivate staff to complete certain tasks and achieve set goals
- And reward them for their time, their effort, and their dedication
Once you’ve decided on how you want to use your Loyalty Program, implementing it is simple.
How is it used?
Users can access the Loyalty Program by logging in securely with a user name or number and password of their choosing. They will then have access to the dashboard to see how they’re accruing points or ticking off tasks in order to unlock their rewards.
Once users have reached a pre-set threshold, rewards become released and loyalty is inspired. Users will gain access to a variety of Gift Cards, discounts and benefits from Australia’s leading retailers like Coles, Target, Hoyts, JB Hi-Fi, Myer and more.
In addition, users can also select from a range of exclusive Cashback Offers, coupons and special Card-Linked Offers.
And this is the key point here: if you’re offering them rewards that they love, nine times out of ten you’ll secure brand loyalty.
Members, customers, and employees are far more likely to value and continue using a rewards platform that gives them a choice and doesn’t hand out just one type of reward.
Employee Loyalty Programs
Employees that clock in to your business day after day can sometimes find the same old routine… boring.
A Loyalty Program provides Rewards and recognition to employees, which helps them feel acknowledged for their efforts, and inspired to keep going. Whilst extrinsic motivation isn’t the only way to Reward and recognise employees, it definitely works to a large degree.
The best part is, Loyalty Programs deliver Rewards and recognition in a gamified environment. So, all communication, content, Rewards, Awards and Perks are personalised to each employee.
Use a Loyalty Program to gamify their day, week, or month and motivate them to achieve goals, whether individual, team-based, or branch-based. At the same time, you’ll be collecting data on your employees as they complete each task you set them or pass the milestones and markers on their way up.
- Example #1: Encourage the Customer Service department at a certain branch to get a 95% (or higher) customer satisfaction rate for an entire month. If they pass this threshold, the entire department gets to choose a reward via the system. You can rest assured they’ll be on their toes for the entire month, striving to reach their goal.
- Example #2: An employee who is usually excellent in closing leads has been going through a lapse. Set them up with a personal challenge to close X number of leads by the end of the week, with the opportunity to choose a reward of their choice immediately when they do.
Member Loyalty Programs
A Loyalty Program increases brand engagement through positive associations with your business. Even members who aren’t yet customers can benefit themselves while they’re benefiting your brand. Alternatively, members might be policy holders in which case providing Rewards can go that extra mile to create long-term loyalty.
- Example #1: Reward those members who engage the most with your brand via social platforms on a weekly or monthly basis. Leaving comments on Facebook posts, tagging friends and sharing Tweets are just some of the ways to measure their engagement.
- Example #2: Run a contest among members to see who can drive the most social engagement from others. See who can get the most social shares or retweets about a product or service that you’re offering, and Reward them for it.
Customer Loyalty Programs
Your customers are your biggest resource for feedback about how your business is truly progressing. Reward them for sharing this information with you freely.
- Example #1: Send an online survey to your customers in order to get their opinion about a new product you intend launching and then let them choose an appropriate reward for their time and effort.
- Example #2: Provide customers with short surveys, of around two or three questions, about their shopping habits or favourite purchases. Then, at the end of each day or week, select a customer at random to be rewarded for their responses.
Positive reinforcement is something that is hard-wired into how we as humans behave, and many psychologists would argue that it forms the basis of everything we do. That’s because It’s natural to do something in order to be rewarded for it. And, this is something that Loyalty Programs understand and accommodate.
When a person is given a Reward that they want, their brain releases a hit of dopamine (the happy hormone). So, it should come as no surprise that people will circle back around to the source of what makes them feel good.
Therefore, giving Rewards to customers, members, and employees is a smart move for businesses. All the more so when it’s done through a designated Loyalty Program that also captures priceless data in the form of performance statistics, product or service feedback, and social engagement.
All of these elements can be used to skyrocket your business’ growth (not to mention your ROI).
And this is precisely what we do.