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Top 7 commandments to rule the world of customer loyalty

Introduction

In the context of customer loyalty, there is an ever-expanding movement to digital & according to McKinsey, customer loyalty programs are critical components of this digital movement. In today’s customer-centric business orientation, customer loyalty is not just a prize to win, but many businesses are using it as a tool to gain traction. If you are out with a mandate to wield this tool to garner more loyal customers, you have come at the right place, because we here at WovVTech have unmatched experience & capability to win more customers by using customer loyalty programs. Apart from the fact that the idea of customer loyalty appeals to our business sense, there is credible, measurable proof in its favor. Recent research into this matter has shown that acquiring a new customer is five times more expensive than retaining an existing one, & this fact has convinced retail companies that in order to optimize marketing dollars one needs to invest in rock-solid customer loyalty programs in retail. Now after the importance of the customer loyalty has been established beyond doubt we will share some off-beat, effective tips to enhance customer loyalty. 

Launch a loyalty program

Customer loyalty schemes have umpteen benefits & repeat purchase is one of them. The look & feel of a customer loyalty program may vary depending on the industry & nature of your business, the guiding philosophy remains the same & that is to touch the loyal side of the customers by rewarding them & providing incentives. While crafting a loyalty program, take the freedom to think out-of-box & shade the baggage of run-of-the-mill loyalty programs. Think strategically when it comes to rewarding the customers, some recommendable structures are creating tier-based loyalty programs, gamifying the program, allowing customers to choose the reward which they want, & some others. This is an area of immense opportunity so think creatively about different ways your program can resonate well with customers. We know the name of a loyalty program platform which is worth sharing here – OKEN – this loyalty program platform allows you to launch your own customized loyalty program within just a few weeks.

Serve customers

Your service to a man will not go unnoticed. A recent research has shown quantitatively that around 90% Americans are willing to spend more if you offer great customer service. With so many high-important things running at the top of their minds, getting customers’ attention is what companies strive for. Now when you have this opportunity where customers are willing to interact with you, for some work which they might have with you, why not make the most of it? Make it a memorable moment, use it as an opportunity to leave a lasting impression in their mind & create an unflinching attachment in their heart. We have one example of ‘Adobe’, where the company goes beyond the normal CS formalities with this tagline – Respond to customer service complaints before they happen. 

Fulfill customers’ goal  

Sales pitch helps but sometimes you need to think more emphatically. Won’t it be better if you can offer some help to your customers which will help them in fulfilling their life/career goals rather than just forcing a sale with blatant sales pitch? At WovVTech we send email newsletter to our customers giving them some practical, real-world tips on loyalty rewards programs. And guess what? One day we received an email from our client who took the pain to reply to a newsletter email from us from a barge of such emails which he must be receiving every day & which we don’t even care to open after reading the subject line. And do you know what he has written? He said, though he receives so many similar emails on a daily basis, our email was different because it appeared to genuinely help them & not just present a sales pitch. And that’s the reason he chose to reply. 

Personalization power

Campaign Monitor says that around 75% marketers believe that personalization is key to customer engagement. And the route to customer success which goes through the best loyalty programs starts from customer engagement only.  Personalization has many levels, it doesn’t have to be too complicated, you can lead the way by as simple a gesture as addressing your customers by name. What does it take? – Nothing, but it can go a long way in arousing loyalty vibes in customers. As a second step, you can just track your customers browsing behavior & recommend products based on it. Amazon has managed to slay customer loyalty with this trick.  

Streamlining the purchasing process 

Keeping our discussion in the domain of organized retail, we will provide some tips on what businesses (for example shopping malls, airport retail) can do to streamline the purchasing process.  We don’t know if it has happened to you or not but it is a common experience for many to abandon a sale just because of the difficulties in the buying process, for example, a very long queue. What can you do to streamline the buying process? One, you can provide many billing counters with some serving only a few items while others many. Two, you can assign a concierge who will help the customers out in billing while they take rest in the lounge.  Three, you can even create a provision of home delivery, wherein customers will just throw in their cart to you & leave the shop, while you will take care of billing & delivery at their home address. 

Customer reviews

Customer reviews serve many purposes – they are a social proof of your product’s success, they are a way to channel customers’ emotion, & also, they help you out in self-improvement.  With digital-disruption customer review has been totally revolutionized. Customers, at any moment, from their comfort, can provide their reviews leaving a lasting mark on the prospects. With around 88% people relying on customer review for making an opinion about your business, it is important than ever to focus on it. Don’t fear negative reviews, if somebody calls you out, go above & beyond to make things right. Customers will love it!

The power of E-Mail

Email marketing is a great way of associative thinking & it’s a great way to keep in touch with customers & prospects & provide them values which encourage customer loyalty. So, how can you wield the power of emails in your favor? One, you can send regular newsletters informing customers of the latest happening in the industry, this will educate them & make them a reliable buyer. Two, you can send emails to customers after sales with the ultimate objective of creating a relationship so that they will prefer you for repeat purchase. Three, you can send discount coupons, special offers, & information on customer reward programs to selected customers for promoting cross-selling & up-selling. 

OKEN SaaS platform for Mall Experience and Loyalty

Now, after we are done with the top seven tips on increasing customer loyalty, we are going to share with you the name of a shopping mall loyalty program platform – OKEN SaaS platform. As you know, the success of a loyalty program depends on the technology solution & the knowledge-underpinning which brands receive from the vendor. This is where this platform wins the game.  

In the case of this customer loyalty application, the configuration steps & on-boarding is very easy which is a primary concern of many businesses. Then there is the cost factor, & let me tell you, this platform is the winner in all these areas. A few weeks time is enough to launch your loyalty program with this app – that’s how light-weight & simple this software solution is. 

Conclusion

For the companies which are planning to launch their loyalty program, one advice from our side, don’t do it just for the sake of it. There should be a clear reason & business objective for launching your loyalty program. Go through customers’ transaction & engagement data & understand why customers are interacting with you. Do a thorough research to understand the requirements & what you can offer them, before even thinking about launching your program.