Gaining a customer’s loyalty is a goal for which all companies should strive. Whether your company is just finding its footing or it’s been at it for a while, creating loyal customers is a huge business advantage.
Here are just a few ways customer loyalty programs can benefit your brand:
Companies with the Best Loyalty Programs
If your company doesn’t have a loyalty program in place yet, then you have plenty of successful examples out there from which to choose.
That’s right; there are a number of major companies using rewards and loyalty programs to keep their customers coming back time and time again.
- Walgreens – Walgreens has been around for quite some time, so the company knows a thing or two about customer loyalty. Their Balance Rewards program gives customers points for everything from filling prescriptions to leading a healthy lifestyle. The points are redeemable for in-store gift cards, which will definitely keep customers coming back.
- REI – Everyone’s favorite outdoor store has a membership program that offers its customers all kinds of goodies. From in-store savings to discounts on travel, REI knows its customers. Not only that, membership is good for life, which translates to a lifetime of loyalty.
- Safeway – The Safeway grocery chain knows how expensive gas is. That’s why they’ve created a rewards program that gives customers huge discounts at the pump. Customers gain points for in-store purchases that can then be used as discounts at Safeway and Mobil gas stations.
Sure, loyalty programs are good news for customers, but what’s in it for your company?
As the following article looks at, here are just a few benefits of starting customer loyalty programs:
Staying Ahead of the Competition
Chances are your company isn’t the only game in town. Whether you sell products or offer services, competition is everywhere. When your company has a loyalty program to offer, it puts you ahead of the competition.
Not only does a loyalty program make your company unique, it’s a great marketing angle to have at your disposal. You can market your loyalty program like its part of your brand, which will put you ahead of the pack.
Just about any business owner will tell you that the majority of their sales come from only a small portion of customers. If this is true for your business too, then a loyalty program can help your company retain its top spenders.
Loyalty programs are designed to benefit all of your customers, especially your most valuable ones. The right loyalty program will turn a return customer into a customer for life simply because return customers get the most out of the rewards. This is the definition of customer retention.
Saving Money on Marketing
As long as you come up with a loyalty program that customers latch on to, your program could become a self-promoting marketing campaign.
Think about it: a rewards system that benefits your customers just for shopping at your store. That’s about the easiest, most cost-effective marketing strategy around – and you don’t even really need to market it.
If you really want to put a smile on your customers’ faces, then a loyalty program might just be the answer.
Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including marketing and customer satisfaction.