Retaining your valuable clients is one of the most important aspects of running a business, so find out how a customer loyalty programme could help you.
There can be little argument that, while it's always nice to attract new business, maintaining customer loyalty is essential for long-term success in your organisation. It's not good enough to simply top-up an outgoing client base with new leads - achieving growth means building on what's already there, not replacing it.
While some businesses simply rely on their unique products or pricing models to retain customers, going the extra mile for clients is an often overlooked skill which can give your company a distinct advantage. Offering rewards and incentives for long-term loyalty or large orders, for example, is a terrific way of giving your valuable customers a reason to keep coming back to you.
Proven results of customer loyalty programmes
A survey carried out by Technology Advice looked into loyalty programmes specifically, and what the appeal is for those who participate. Perhaps unsurprisingly, over 50 per cent of respondents spoke highly of the financial savings benefits which are part of many schemes, but an impressive 41.1 per cent also named earning and receiving rewards as a key motivator for them.
Allowing customers to accrue points that can be redeemed for all manner of rewards, such as tickets to events or even travel incentives, is a great way to build the loyalty that businesses so desire.
The gift of gamification
No one is denying that video games have become an omnipresent part of modern society, but it has been interesting to see how the mechanics that make a compelling game have begun to transfer to other parts of our lives. The concept of 'gamification' is a relatively new one, but one which is having a big impact.
Hanover Research found that amongst the most successful customer loyalty programmes, the ability to track and set incentive goals was something many participants were interested in. Allowing your customers to monitor their own progress can give them the extra impetus to pay for additional products or services. After all, if you could see how close you are to the next reward, wouldn't you feel compelled to go that little bit further?
The concept of 'gamification' is a relatively new one, but one which is having a big impact.
When your organisation is ready to embrace the possibilities of gamification and a customer loyalty programme, Power2Motivate has the perfect system for implementing and tracking your unique offering. Talk to us about arranging a demo, or to simply find out more about how we can help you retain your customers through incentives.