All online businesses have a few general requirements in order to be successful. At the most basic level, you need to have a high-quality product and a strong customer base. Digging deeper, you must look towards the future – at expansion and continuously increasing profits. The underlying factor in making any business a success is the ability to acquire new customers and keep current customers coming back for more.
Customers are the bread of the butter of your business. They are the glue that holds everything together and can provide growth opportunities month after month. The hard part comes into play when trying to figure out how to give continuous value or show appreciation to those customers.
People love to feel as though they are important and getting more than they pay for. Think about the times that you have gone to a restaurant. You are exchanging money in hopes of a great meal. You aren’t going there to eat mediocre food… you want food that tastes delicious, satisfying all your taste-buds, and will make you want to return for more. Your business should do the same. Your product or service needs to be what draws a customer in, but then your loyalty rewards and customer service should then be what brings them back again and again.
If you are looking for ideas on what to offer your own online customers in the line of loyalty rewards, there are several different options available to ponder. Here a few suggestions to help get your think-tank started.
1.) The “extra” discount program. We’ve all seen this, right? You become a VIP, subscriber, or member, and then you are one of the first to receive exclusive emails about the “extra” discounts and sales that are available. This is a great loyalty perk to offer because it makes customers feel as though they are being let in on a little secret that only they are privy to. It creates a feeling of inclusion for them and makes them want to participate.
2.) The Point System. Customers love to show their commitment to a business. By offering a point system, they are able to acquire points for products or services that they buy. Each item has a designated point value, and once that item is purchased, the customer automatically receives those points in a “bank” that is dedicated solely to them. As a business owner, it’s up to you to decide how those points can be cashed out or used. For example, 100 points could equal to $10 in cash or once a certain number of points are accumulated, they can be redeemed for another product.
3.) Email opt-in points. While your focus does need to be on your current clients, don’t forget about those clients who haven’t returned for quite some time. This group is one that should be addressed occasionally in your client base. Reach out to them via email and offer them an exclusive discount. You can label it as a “return customer” discount to try to get them back and engaging as an active customer. If you don’t ask and follow up, you won’t know why they stopped being an active client.
4.) Tiers of membership. There are many people that only want the best of the best and want to be included in the highest category possible. Then, there are others who like to get comfortable at a lower level of commitment before they decide if going all-in is in their best interest. For either of these types of people, a tier program may be just what they’re looking for. You can set your business up on different levels such as Silver, Gold, and Platinum and offer a monthly or yearly payment plan for them to enroll. For this to be successful, the perks that come along with it must justify the cost. Each level needs to have something unique and exclusive about it, setting it apart from the prior level. Showcase them as a way for your customers to receive extra discounts, more coaching sessions, another mentor… in whatever way it needs to be structured to entice.
Loyalty reward programs can be a great way for your clients confirm their loyalty and make repeat purchases to your business. Keep in mind that whatever loyalty program you offer, it needs to be enticing, exciting and obtainable for your customers to want to engage and enroll in it. Stand apart from your competitors and offer more with your loyalty reward program than they do. Do what it takes to keep your clients happy and loyal. If you are dedicated to them, they will be dedicated to you.
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