Want to have a successful business for the long haul? Fostering customer loyalty would be a big step forward. What sorts of initiatives can work?
One of the keys to achieving business success, in Australia or anywhere else, is being able to secure loyal customers. Making big sales on a one-time basis is a good way to get by from month to month, but to have a sustainable business model, you need to keep people coming back to spend again and again.
"It's good to have customer loyalty programs in place that reward people for coming back."
To help make this happen, it's good to have customer loyalty programs in place that reward people for coming back. It's a crowded business world out there, and consumers have no shortage of options - people might need a little extra motivation to patronise your business more than once.
So what sorts of programs should you use? It would help to know what initiatives have been effective in Australia in the past. Let's take a closer look.
Examples of successful loyalty programs
If you're considering using a customer loyalty program to win over patrons for the long haul, you're in luck - you have a wide range of options. According to the Department of Industry, Innovation and Science, the ways to win customers include:
Discounts: After a customer purchases a certain amount of your product, give them a lower price to buy more.
VIP programs: Allow people to opt in to an exclusive club that gives them special buying privileges.
Competitions: Let buyers enter sweepstakes or raffles if they purchase at a certain level. This will incentivise more sales and give people an added reason to take interest in your brand.
Monitoring your customer relationships
Once you've gone to the trouble of setting up a loyalty program, you'll want to keep an eye on the process and make sure your investment is paying off. How many resources are you committing to your program, and what sort of return are you getting?
Answering this question may require checking up on multiple channels for customer engagement. Today's consumers like to keep in touch with their favourite brands in person, online and via mobile apps. By tracking all of the above holistically, you can get the full scope of your program's results.
Put your program into action today
Why wait another day? Now is the best time to take action and give your customers real, tangible sales incentives that will keep them coming back. To get started, get in touch with Power2Motivate today and ask about how you can begin using our branded loyalty programs.
We implement a points-based system that allows customers to choose their own rewards from a wide variety of top brand names. Talk to us, and we'll show you just how easy it is to begin rewarding your prized customers.
Is your organisation interested in a customer-based loyalty program? Contact a Power2Motivate representative today.