Steps To Retain Customers Using Membership And Loyalty Rewards In E-commerce Sites And POS
Steps To Retain Customers Using Membership And Loyalty Rewards In E-commerce Sites And POS
Businesses swear by this quote as it is true to the point. Customers are the most important treasure for any business and it is very much important not to lose them. In today’s times, loyalty rewards and membership programs have brought a storm into the e-commerce world as they are the mantra to retaining customers, and here, we have some of the best ways in which any business can be benefitted by taking care of their customers.
What To Do ?
1. Creating a Basic Point System
Points’ counting is one of the basic and important parts of a loyalty program. It provides an easy way to monitor and know the customer’s loyalty who would be getting a point per dollar/rupee spent, or more to make the customers happy. These points can be accumulated and then redeemed with an excellent offer. This would not only make the customers happy, but also would help the business know the loyalty of their customers, and encourage customers to buy from the same business due to the point benefit.
For example, Sephora offers an excellent point based system. Customers swipe their card and their points get collected each time. Every dollar they spent, gives them a point which can be then collected and redeemed for beauty supply items when they want.
2. Tier Loyalty Programs
It comes one step above the points based system as it provides customised rewards depending on the individual’s purchasing capacity. This system would be much useful for large businesses that can provide the customers rewards and loyalty points based on the amount of purchase they do. The more they shop, the more points they get. Particularly, it can be kept for high priced products, in which by purchasing the particular value of products, would qualify one to that tier. The said tier, would be having its own benefits which would be useful to the customer as he would be getting a lot in return like early delivery, gifts, shopping for relatives/friends, some products for the elite members in the program only etc.This system can be used by big businesses and rewards in the form of some items from the website itself to the customers can be given to engage and make customers satisfied.
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3. Loyalty Cards & Gift Cards
Loyalty cards with the member’s details are also a great method as it can be swiped at the POS terminal.?This card would help the customers at a particular demographic. Loyal customers are also rewarded with discounts, coupons and any other incentive that is not offered to non-participating customer. Gift cards are also another method in which customers can be retained and rewarded thereafter. Gift cards, carry the brand name and they can be given the redeemed facility, anywhere, so that it can be accessed by, not only the owner, but by their family members and friends. Nothing is better than word of mouth.
4. Working with other brands
If a business mutually done, benefits everyone, then it’s for the best. One might have the loyalty program and its features, but once it spreads to everyone, it will start showing results. Working with other brands, to sell products, will not only help the existing customers but also help in getting new ones, as the customers would be able to trust the business more and it would help in gaining more new customers.
For example, banks work with credit card companies for various types of people as per the requirement. They keep such offers which are useful to the customers; they can gain more points and also get some rewards.
For example, Nike has a loyalty program which offers additional discounts on the products bought and includes partnership with companies like Apple and Headspace, which is a win-win for both.