As the year is almost ending, every eCommerce brand is thinking about their new year's resolutions for 2022. This means thinking of strategies for acquiring more customers and increasing your sales. One of the most effective ways of increasing your sales is through loyalty programs. Offering loyalty points encourages repeated visits, hence more sales for your business.
So, have you thought of your 2022 loyalty program resolutions? Unfortunately, driving customer loyalty is becoming harder than ever. As the pandemic has pushed more people online, customers have increased power to select their preferred brand.
And now that customers change continually, has your business' loyalty program changed with them for the past year? You need to change your loyalty program to the best coming next year.
More than 70% of customers will recommend a brand if it has an excellent loyalty program. However, with customers making more informed and value-driven decisions, making changes to your loyalty program is very important. Thus, aligning your loyalty program with New Year's resolutions will help you make the necessary changes to your loyalty program to improve your customers' experience.
Aligning your loyalty program with New Year's resolutions is beneficial because:
Here are some new year's resolutions you can consider for your loyalty program:
Focusing on your customers is very important to add value to your business. But how do you know what they want? Ask them. Customers are always ready to let you know what they want if you communicate with them. In fact, over three-quarters of customers are willing to share data helpful for personalized offers.
Your clients are the best source of information when it comes to improving your loyalty program. There is no need for guessing or investigating what your competitors are doing. Instead, focus on meeting your customers' needs.
But how do you collect this data? It turns out that modern customers want to talk to your brand in real-time. 66% of customers expect to provide feedback about your products and services on the channel they are currently using, while 63% expect easy transitions between channels when they engage with a brand.
In your new year's resolutions, make it a point to ask your loyalty program members what they want. Their feedback might surprise you, but at least you will focus on offering your customers the best to increase your sales.
Customers do not want to wait to receive value from your loyalty program. So, give instant discounts to customers whenever they shop to encourage them to join your premium loyalty program. Also, you can offer benefits such as free delivery services to customers plus a 24/7 live assistant to help customers with their queries and concerns.
Find out what type of benefits customers can gain value from, and offer them instantly whenever customers shop from your business. For example, offering benefits that build emotional connections with your customers can encourage them to shop frequently in your business, increasing your sales and profits.
Once you know what your customers value, you can improve your loyalty program. It would be best to solve the pain points of your customers and improve their experience. For example, you can optimize your loyalty program to allow members to redeem their points sooner. Think of new benefits you can offer your members in 2022 and how fast they can redeem them.
About every business has a traditional loyalty program today. But have you thought beyond points? A premium loyalty program is vital to your eCommerce business' success. In this program, customers pay a membership fee in exchange for instant benefits that a free loyalty program cannot offer.
Fees paid by loyal members help eCommerce retailers provide the best experience possible for their customers. Amazon started this trend in 2015, and other retailers are continuing to follow. Will your customers join your loyalty program? Truly, customers will join a loyalty program if their favorite retailer offers one.
And according to McKinsey Consumer Paid Loyalty 2020 Survey:
Also, 90% of customers satisfied by the special benefits your premium loyalty program offers are most likely to choose your brand over a competitor offering low prices. Fortunately, you do not have to get rid of your free loyalty program because they can perfectly work with the premium loyalty program. So, if you already have a free loyalty program, think about having a premium loyalty program for your VIP customers.
Is your loyalty program simple to understand? Customers need to understand your loyalty program – they should know how to sign up and use the program. A registration process requiring customers to navigate multiple pages or fill out many forms will be a real turn-off that will discourage many customers from signing up for your loyalty program. Instead, you would need to simplify the signup process to encourage more customers to join your loyalty program.
Also, customers will be more willing to shop from a retailer frequently if they better communicate how many loyalty points they have. In a recent report, 52% of U.S internet users revealed they are unsure how many loyalty points they have for their favorite brands.
In your New Year's resolutions, ensure you make changes to your loyalty program to make it simple to avoid frustrating your customers and losing money. Yearly $ 98 billion is left on the table by retailers that fail to provide a simple to their clients. Do not let your company lose that dollar in 2022. Keep your loyalty program simple.
You might have an excellent loyalty program, but do your customers know about it? It might seem like an easy job to advertise a loyalty program, but not every retailer is good at it. As a result, many customers do not sign up for your loyalty program simply because they are unaware of it.
So, make one of your new year's resolutions to perform a loyalty program audit;
While you want to offer the best loyalty program to your customers, the last thing you want to do is confuse them. Offer a simple program so that your customers will enjoy its experience.
New Year's resolutions give you a perfect chance to make positive changes in your business. And making resolutions to improve your loyalty program will help you build more loyalty with your customers, increasing sales. But it's not enough to have a loyalty program; you need to adjust it to fit what your customers want.
At Glow Loyalty, we have a knack for boosting business revenue through high-converting loyalty programs.
Wouldn't you like to drive customer loyalty without breaking the bank? Then, contact us today to point you in the right direction.
Better yet, you can install the Glow: Loyalty Points & Rewards app to cultivate customer loyalty effortlessly.
Wondering how the app works? Check out this free demo.
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