Your customers are the most essential part of your business, they’re the reason you can keep trading. For this reason, it’s important you reward them for their loyalty. Most businesses recognise this need, but find it hard to brainstorm ways to reward, and reasons to reward. This article will explore some of the ways you can reward your customers, and some of the things your customers can do to be rewarded.
It’s very prevalent in the world of big business to do “new customer” offers, this is great but can leave loyal customers feeling ripped off and slighted. By all means run new customer offers, but make sure you take care of those who stick with you instead of competitors.
As well as providing value to customers, loyalty programs are also a great way to learn important data about your customers. By personalising the offers depending on purchases, buying habits, and much more, you can glean information to help you appeal to future customers.
Customer Loyalty Ideas
- Being a follower on social media platforms – There are several ways you can reward for being a follower, including posting social media only discounts, free shipping or social media exclusive products.
- Loyalty Card – If a customer places a certain number of orders with your business, you could show your appreciation by giving them a free gift on the 5th This could be in the form of a voucher, a product, or a substantial discount.
- Newsletter Sign Ups – The newsletter is one of the best pieces of marketing you have at your disposal, it’s a guaranteed post sitting in your customers inbox. A great way to reward the sign up is to offer an incentive for signing up, and a continual discount just for newsletter subscribers.
- Birthday Bonus – A lot of bigger businesses send customers a discount code or a free shipping code on their birthday. A birthday is a time when most people will have a bit of birthday money, and a birthday code can encourage them to spend it with you.
- Loyalty Points – Similar to the big supermarket discount codes, it’s very simple on most e-commerce sites to implement a point system. Each time a customer purchases with you they get assigned a number of points based on the value they spend. These points can be redeemed for money off future orders, it feels like “free money” to customers so it’s a great incentive.
- Charitable Giving – People love to feel like they’re doing good in the world, and if you’re in a market that is price competitive, this can be one that really gives you the edge. Why not plant trees or donate to a good cause with every order? It sets you apart from the competition and is a way of spreading some love.
- Partnership Perks – Can you link up with another business to offer discounts, exclusives or other exciting incentives? This will not only promote their business but also give another angle to what you can offer customers.
- Early Access – Rewarding your loyal customers with a first look at your new products, sales and much more is a great way to make them feel special! 24 hours early access or similar will be a big draw, especially if you have limited stock.
- Recommend a Friend – Whilst most people will usually tell their friends about their shopping experiences, you can encourage them to recommend your business to their friends by offering an incentive. Perhaps a discount for both the customer and their friend, or a free gift. You could even have a referral program and build up the incentives with each person referred.
These are just some of the ways you can reward your customers, there are many more ways so let your imagination go wild and get creative. Your customers will feel important, and you will be ensuring you’re developing a loyal customer base. Although it might appear you’re losing money when you don’t have to, think of the money spent as a customer retention cost. Take it out of your advertising budget, because repeat customers are often more lucrative than new customers.
A well thought out, valued based loyalty program not only rewards loyal customers, it can attract new ones, reengage dormant customers and encourage everyone to spend more.
Rewarding customer loyalty is a win – win situation, so don’t hesitate, put something in place today!
What do you plan to reward your customers with?
Sound off in the comments below!