Tag Archives: customer experience

4 Types of Loyalty Programs to Attract Customers

What Is Customer Loyalty? As customers, we love to share our positive or negative experiences about a product or service with friends and family. We are also inclined to trust brands recommended or referred by our friends. Word-of-mouth is more effective at driving new customers than any other form of advertising. The cost of retaining an existing customer is much lower than acquiring a new one a loyal customer is a valuable brand asset. As a business, you can gain a lot by devising strategies to turn your existing customer base into loyal customers and brands advocates On an average, customers spend more often on brands they like. In the U.S., 40% of online shopping revenue comes from repeat customers. When a customer has a positive experience or derives value from your products or services, he is likely to return to your business. That is where customer loyalty programs can help you. A customer loyalty program offers special privileges by the way of discounts to customers who make frequent purchases. The main objective of this program is to build and nurture a loyal customer base. Rewards form an important part of any loyalty program, here’s a quick take on the best performing loyalty reward systems. Types of Reward Systems: There are several types of reward systems that are being successfully used by businesses. You should spend some time learning about these systems before selecting one that meets your specific business requirements. Point-based systems This conventional form of customer loyalty program is still popular among many restaurant owners. Customers earn points for every purchase or visit. These points translate into different kinds of reward such as discounts, coupons, freebies or other special offers. Customers can check in with a card or mobile app at your restaurant to earn points. Restaurant owners can choose the nature of […]