It’s okay researching tips on how to make your loyalty programme more appealing to customers. However, you must get to grips with the basics first, which means analysing how the market works and why the tactic is effective. Once you do these things, the insights you glean into loyalty and consumers will be bigger and more useful.
As always, it’s imperative to look to your rivals as a yardstick. By evaluating how they innovate with reward schemes, you can use the readymade information and apply it to your business model. That leaves us with one question – how are your competitors getting creative with rewards?
Never Rely on Points
Points make prizes, and in this case, customers can swap the ones they accrue for money off the final bill, whether it’s food, clothes or fuel. Sadly, lots of businesses take this to mean that shoppers only want price reductions, which isn’t realistic. What they want is extra value.
Sephora, a beauty retailer, gets it. Instead of only providing points for purchases, the company also has makeup classes and beauty events for interested consumers. This gives shoppers even more reasons to choose their brand and products and services over the rest of the competition.
Considering the number of schemes on the market, fading into the background is easy because almost 75% of adult online shoppers are members of a loyalty programme. So, standing out from the crowd is crucial.
Don’t Be Afraid of Freebies
Free giveaways shouldn’t fill entrepreneurs with dread. Sure, you don’t get anything from the initial transaction, but what you receive in the long-term is much more valuable. Did you know freebies can boost sales by 2000%, according to Shopify? Or that people are highly likely to buy from you again in the future?
There are fewer effective ways to do it, yet several examples exist that will point you in the right direction. Spotify is the main because it has a premium and free version of its service, allowing those who don’t want to pay to listen with adverts. Online casinos follow a similar model, too. NetBet Casino is one of the growing numbers of platforms that have free demo modes as well as real money tables and slot machines because the strategy includes all skill levels. The model works well in this industry.
It doesn’t matter whether poker players are professionals or complete amateurs because NetBet’s platform has something for everyone. Of course, when the beginners up their game, they can seamlessly transition into the big leagues.
Make Them Mobile-Centric
Mobile-friendly is a phrase you hear a lot in business because there has been a shift towards shopping on smartphones and tablets. As a result, having a responsive website is a staple of most companies, regardless of size.
Amazon proves firms should take the next step and be mobile-centric rather than mobile-friendly. During the Prime Day event, for instance, users were notified about deals via the app, email or text message. The result is that 91 million first-time Prime users renew for a second year, meaning there are an estimated 150 million Amazon Prime members.
From eCommerce to streaming and online casinos, there are plenty of industries you can take inspiration from concerning getting creative with reward programmes.