A classic win-win situation for you and your customer
Saving is fun for your customer, because they can save for discounts, free products or other rewards that you offer in return. But the fact that your customers are saving, is actually much nicer for you, because you also have a lot to gain in your loyalty program. A customer who saves has an immediate reason to return to your store. In this blog you can read all about customer loyalty and what saving can mean for you.
Customer loyalty is worth gold
The main reason: creating a loyal (and therefore returning) customer is much easier than attracting a new customer. Creating a loyal customer can be done in many ways and it really does not only have to do with a lowest price. A customer is willing to pay more because he gets other privileges in return. This brings two important benefits:
- A loyal customer is less susceptible to competitors’ beliefs.
- A loyal customer is more willing to act as a brand ambassador through word of mouth.
The basic points to engage your customers and make them loyal from the start
- Register your customers.
- Train your people on good relationship management.
- Segment and personalize your communication.
- Try to find out why loyal customers stay with you.
- Set up a modern loyalty program.
Savings for more loyalty
Introducing a savings program is an effective way to reward and increase the loyalty of existing customers. You create a win-win situation for both your brand and the customer, which will benefit the emotional bond between the two. There are, of course, endless possibilities to increase customer loyalty, but below we will only elaborate on the benefits around saving as a loyalty program for now.
Points represent a value
The most familiar way of saving. Customers build up credit with every purchase and can redeem it at a time of their choice or only within specific moments when a retailer wishes to do so. With the Reward & Redeem module within tritonX you offer the customer the possibility to redeem omnichannel points. So the points represent a value and that has an advantage and a disadvantage. The advantage: the customer has a reason to return because it still has shop credit outstanding. The disadvantage: the customer always has some form of discount, which reduces your margin. If you want a more dynamic form of saving, then one of the options below is interesting to think about.
Points as a reward for activities
This allows customers to receive points on activities they undertake. This can be arranged as desired via the Event Based Rewarding module. The big advantage of this is that you can push customers in the right direction when it comes to taking certain actions. Think of creating a profile, shopping in a specific period, buying a specific product, filling out a review and much more. Because of the link between tritonX and the webshop there are endless possibilities. Surprise your customers and let them save extra points by participating. The win-win? You get more information or other actions from the customer and they build up their points faster and thus get more discount. If this is the case, it is also possible to choose different status levels as a reward for the points. You can read more about this under the next heading.
Loyalty points determine loyalty level
If you do not want loyalty points to represent a value, they could determine a loyalty level – with corresponding privileges. Think for example of ‘gold, silver, bronze’. The more points a customer saves, the higher the level. The higher the level, the more benefits a customer receives. Think of a gift on their birthday, free shipping, longer return period, bonus vouchers, early access to the sale (pre-sale), an invitation to exclusive events and so on.
Conclusion of saving as a loyalty program
It is a classic win-win situation for both the retailer and the customer. Here are a few more benefits for the retailer:
- It’s a useful guide for marketing activities because you can link activities to certain loyalty levels.
- Automatic trigger newsletters can be linked to points and loyalty levels.
- The site can be set up in the house style of the loyalty level and point level – think of booking.com where you have almost reached a new level.
So don’t wait too long to set up your loyalty system and tie that customer to your brand or company.
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