Does your loyalty scheme give your customers the best value? While some loyalty schemes demand the collection of thousands of points before any justifiable gain, we argue that there are better ways to win customer loyalty. Discover three ways you can reward your customers and provide excellent customer experiences without them having to spend a fortune.
Offer rewards up-front
At Toby Carvery you’ll get a free pudding just for downloading their app and 33% off when you spend £15 or more. Similarly Browns offers £10 to customers just for signing up and seasonal promotions such as 20% off your bill in September or a free bottle of wine.
But it’s important to make sure your app doesn’t become a one-reward wonder. Encourage continued usage through digital messages to remind your customers what they’re missing out on.
Opt for a flexible rewards program
Think outside the box when it comes to the rewards you offer. Take the Tesco Clubcard for example, which is at home in the wallets of 68% of the population. With the help of basket data Tesco is able to offer personalised coupons and serve offers individual customers are more likely to be interested in. Points can also be exchanged for vouchers, e.g. £2.50 worth of points can be exchanged for £10 off in Pizza Express.
On that note, think about your points-per-pound ratio and what makes economic sense to your business. The Boots Advantage Card offers the biggest points per pound ratio, with 4 points for every £1 spent in-store or online – but you don’t need to offer the greatest value to provide the best customer experience. Boots uses data from each customer’s Advantage Card to generate personalised offers and looks at a customer’s complete behaviour to analyse what they will find most valuable. You too can utilise a single customer view to create rewards based on individual consumer behaviours.
Finally, is a points-based solution best for your business? With Eagle Eye Reward you can build complex, points-based or multi-tier consumer loyalty schemes.
Get personal with personalised promotions
Generic communications threaten customer loyalty. Receiving excessive generic communications from merchants was the most common reason (24%) for 18-24 year-olds quitting loyalty schemes, according to our loyalty whitepaper.
You can distribute tailored promotions to your customers based on their previous purchase history and interactions with your business. Discover our digital messaging software to find out more.