Take a proactive stance against customer loss by implementing customer loyalty programs today. It does not matter whether you run a large or small business. It does not matter if the company has a physical location or if you only operate online. Nor does it matter if you sell goods or provide services. Any business can benefit from implementing a rewards program that keeps customers committed to your company. Check out examples of great Pathwwway customer loyalty programs below to keep your clients coming back for more.
What are customer loyalty programs?
Customer loyalty programs are rewards programs offered by businesses to their customers who make frequent and/or significant purchases. These loyalty programs can provide the clients with free merchandise, exclusive coupons, and access to special sales or advanced releases of new products. A customer registers for Pathwwway customer loyalty programs by providing their personal information and receiving a distinct numerical identification or program membership card. They then use this number or card to identify their status when purchasing your product or using your services.
What are the benefits of Pathwwway customer loyalty programs?
The biggest benefits of effective include: higher customer retention rates, increased sales revenue, more regular sales even during off or low seasons, heightened brand recognition, expanded reputation, and attracting new customers through glowing word of mouth referrals.
Great Examples of Customer Loyalty Programs
- Let them earn points.
Probably the most well-known version of Pathwwway customer loyalty programs, a simple point system allows customers to earn points on their purchases, or when they use your services. They then use collectible points to redeem some kind of reward. Rewards range from free products and discounts to specialized treatment after earning a certain number of points.
Make the relationship between the earned points and the corresponding rewards as straightforward and easy to understand as possible. This ensures clients actually want to use the program and that they continue to buy from you or use your services. Points will not work for every business, but work best with companies that offer short-term purchases, like restaurants and department stores.
- Choose a tier system.
A tier system works a bit differently from the simple point system. It focuses more on the initial relationship and rewards immediately loyalty while encouraging more purchases or use of services. Offer a small base reward just for joining the loyalty program. Then, once they purchase or use your services, increase the value of the designated rewards in increments as they move up the ladder of loyalty.
The biggest advantage of the tier system lies in the fact customers will not forget about their reward points as they wait to earn enough to redeem a reward. Instead, they get instant gratification with the chance to earn even more valuable rewards over a shorter period of time. The tier system works better for Pathwwway customer loyalty programs in businesses with high commitment and high price-points such as hospitality, insurance, or airline companies.
- Flat fee for exclusive benefits.
Charging a one-time or annual fee for membership for Pathwwway customer loyalty programs may seem counterintuitive, but this fee often lets customers avoid traditional purchase barriers while simplifying the purchasing process as a whole. Think about the last time you purchased something online. How much did it cost when you first looked at the product? Probably something pretty reasonable. Then once you add it to your cart and the taxes and shipping costs are applied, look at the price again. Unless you joined a program like Amazon Prime, the price of your item generally increases significantly.
This “sticker shock” causes many potential customers to abandon their items and search for them elsewhere. Offering a loyalty program that eliminates these added costs by charging a flat, one-time or yearly fee combats this issue without causing you to lose out. Consider using a flat fee for your program if your business depends on your customers buying or using your services repeatedly again and again.
- Try non-monetary rewards.
Once you completely understand your client base, you also understand their sense of worth and what values they hold dear. Customers in particular industries find value in different things, so a non-monetary reward may attract their attention more than a monetary reward. Maybe you are an environmentally friendly company with a large customer base involved in conservation. Offering a program that encourages global sustainability, like trading in their old products for newer ones, or reselling them to others, may be more effective than the conventional points or discount-based rewards programs.
- Find a partner for all-inclusive
Also known as a coalition program, many businesses enter into strategic partnerships with other companies to help with client retention and growth. Who you choose to partner with depends solely on the industry of your business and what you provide. Say you are a cat food company selling to customers in several areas. You may want to reach out to local pet grooming facilities or veterinary clinics to give co-branded, limited deals that benefit both your business and the partner company.
By providing valuable products and services beyond what your business alone can offer your clients, you demonstrate a commitment and understanding of your customers’ needs. It also helps grow your network by tapping into the partner company’s customer base.
- Turn it into a game.
People love playing games, so turning your Pathwwway customer loyalty programs into a fun, engaging game encourages customers to use your services more often and repeatedly. It also could help strengthen your brand’s image. Try a sweepstakes or contest that does not dupe your customers out of rewards or forces them to buy or utilize an unreasonable amount of products or services.
Try to keep the odds of winning at no less than 25% and make the requirements to enter easily attainable. You may need to double check with your legal department about what you can and cannot do. A game-based rewards program works for any kind of company, regardless of their size or physical or online presence, by keeping clients interested and buying frequently.