Big Benefits Of A Customer Loyalty Rewards Program

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There is a major reason why so many companies have loyalty programs in place, and it almost always boils down to the way they are going to make money through these programs. Some business owners have a notion in their mind that they are going to have to spend more than they would make with a customer loyalty program, but remove this notion from your mind. A small business loyalty program is going to make you money, not reduce your profits. 

Introduction

When you get into the nitty gritty of setting up business loyalty programs, we have to look at why they are being created. What is it about these programs that appeals to people? Think about your customers as people who have a choice in where they do their shopping. They could come to your store, online site or establishment, or they could go somewhere else. How are you going to keep them coming to you? Having quality products and services for sale is going to help, but when you create a customer loyalty program, you are giving them an added incentive to do business with you and not any other company. 

Why Create A Customer Loyalty Rewards Program

If a customer hears about customer loyalty programs at a company they already like, they are much more likely to come back to your store to buy something. They will see how they are a certain number of points away from getting a reward, and they are going to want to spend that extra money to see if they can get the reward sooner rather than later. And with the loyalty program in place, you are also getting some free advertising out of these customers, because they will definitely tell their friends and family about the program you are running. 

Customer Loyalty Program Cost

But what about the cost of having a small business loyalty program for customers? Does it make sense for a small business to have such a program? Yes, it does. When you deal with a top loyalty program provider, you are going to get a very good rate on all the expenses related to the program. In addition, studies have shown that the cost associated with getting new customers into your store is around seven times the cost of keeping your loyal customers. With that in mind, you can begin to understand why any cost associated with business rewards programs is significantly less than what you would have to pay to get new people to buy your products. 

Ease Of Implementation For Customer Rewards Program

The ability to create a customer loyalty program has never been easier. Not only are there many great companies that offer assistance to businesses when they want to create these programs, but these companies can also help you run the program. It means you have to do very little in order to keep the program in place, but you are still getting a ton of the benefits – such as increased customer spending, better customer retention and overall business growth. Speak with a top loyalty program provider today to learn how you can take your business to the next level.

Customer Satisfaction Tips


1) Under-Promise And Over-Deliver To Customers

An age-old edict says that the worst thing a business can do is over-promise and under-deliver to their customers. To ensure that your customer is satisfied, make it a point that expectations of service levels are established, published and met consistently. 

2) Check Your Tone Of Voice 

When dealing with customer complaints or grievances, you need to remember that your customer cannot see you. In such a scenario keeping control of your tone is of utmost importance. Customer service executives must maintain a friendly, approachable and polite tone at all times. 

3) Apologize When You’re Wrong 

It is easier to retain a customer’s business if you apologize for any mistake or error by the organization. While you cannot undo the entire situation, an apology is a great way of ensuring that the customer associates with the brand in a positive way. Remember that the customer is always right!

4) Monitor Social Media Platforms 

In today’s rapidly social world, customer feedback is most crucially accessible on social networking channels. While having a dedicated employee to monitor this may not be a feasible option, there are communities of people who professionally undertake freelance client servicing jobs from where you can pick someone to monitor social media for customer complaints, feedback and opinions. Not only do candidates hired for freelance jobs turn out to be more economic, they are also reportedly more productive. 

5) Set Realistic Expectations For Customers 

While customers are more or less alert before they confirm their business with your brand, make sure that you do not make false or misleading claims. Be precise and clear in your product or service’s Terms & Conditions as well as in any other form of customer communication. This makes sure you’re in control of the expectations you create. 

6) Show Customers That You Care  

Understand your customers' needs and show that you care when a customer is facing an issue. Be sympathetic and come up with quick, understandable solutions to their problems. You will be the one getting rewarded when your customers have their needs met.  

Conclusion

Always make business decisions keeping the customer needs and convenience the top priority. Always remember that a happy and loyal customer is the best resource.

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