What is it and what types of customer loyalty programs exist

The loyalty program is defined as a set of strategies with the objective of retaining customers. Who make up the active base of companies, using offers of rewards and discounts in exchange for frequent purchases . According to “The Beginner’s Guide To Customer Loyalty Programs” , loyalty programs can increase the customer retention rate by up to 5%, and can generate a profit of up to 95% for companies. In addition, consumers who are part of loyalty programs agree that this solution increases the possibility that they will buy from the company again. And there are more numbers that show how loyalty programs have gained relevance for businesses: 76% of consumers believe that loyalty plans are part of the relationship with brands; the chances of making a new sale to existing customers increases by 60-70%. What is loyalty program? Companies that work in B2C know how important it is to be able to retain customers.

What are the goals of the loyalty program

As you can guess from its name, the loyalty program aims to strengthen the relationship with consumers, turning them into loyal customers to the brand. But there are many other gains — for businesses Spain Phone Number List and consumers alike — that can become real goals. If your company lives with frequent complaints. For example, it is possible to use the programs as an alternative to revert instability scenarios. And compensation for the maintenance of some service. Other objectives that stand out from this strategy are: encourage consumers to buy from your brand to achieve their loyalty purpose. Such as purchasing something they would like for free. Decrease customers’ interest in searching for competitors when making a new purchase.  Increase the dissemination of the company’s services and products; offer a unique and exclusive consumer experience. What are the principles of a loyalty program? In addition to simplicity and practicality, a good loyalty program.

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Value rewards

The benefits of showing that the company knows its customers and recognizes their value is nothing new in corporate marketing. However, how to draw up a plan of goals that achieve these goals? The first step is to discover your customer’s profile and try to satisfy them in the best way. This can happen in a number DX Leads of ways, such as offering rewards to customers based on their efforts, such as referring friends or accumulating points. It happens as a proportional earnings system, that is, the more the customer uses the benefits of the loyalty program , the more he receives rewards (vouchers, gifts, discount coupons). Creative and interactive Standing out from the competition in the market is essential. However, it is necessary to use creativity to win even more customers, using innovative practices as a tool to retain them.

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