A Customer Loyalty Program is an essential component of the marketing toolkit. It plays a crucial role in any customer centric communication strategy to motivate customers to interact by offering rewards and benefits. An excellent customer loyalty program is carefully structured and part of a long-term marketing strategy to build a relationship with customers, understand their needs better, and provide incentives, rewards and other benefits to the ones that respond with the desired shopping behaviour. Simply put – acknowledge and reward your best customers better.
Still trying to decide? Let the stats speak for themselves:
- 73% of loyalty members say they are likely to recommend that company to a friend. (source: Bond)
- 77% of smartphone users say they are more brand loyal to companies that send reward balances, surprise and delights, exclusive content and birthday surprises via their mobile device (source: Vibes)
- 64% of the affluent middle class belong to a grocery store customer loyalty program to save money (source: Collinson Group)
- 48% of loyalty program members say they would be willing to pay a membership fee to continue receiving the rewards club benefits (source: Maritz)
- Fast easy redemption is critical. Redeemers strive harder to get to their next redemption and are three times more likely to become ambassadors for your brand.
Tranxactor has developed and implemented many different models of loyalty programs that produce tangible and positive results for our retail clients, including:
- Increase in average transaction value
- Increased frequency
- Measurable customer lifetime value
- Improved customer retention
- Greater efficiency from marketing spend