Which loyalty program can help you quickly revive your business?

Who else but your loyal customers is in a position to help you get your business back on track today? That said, what kind of loyalty program should you implement following the lockdown, a period when transactions were scarce and CRM and social media interactions were vital?

For example, the consulting firm Bain & Company has shown thatincreasing retention of top customers by 5% leads to a 25% to 55% increase in financial performance. The Loyal customers are indeed the driving force behind the recovery. In fact, you devoted a great deal of time to nurturing them during the lockdown through email communications and social media. You shared updates about your daily life and your aspirations with them, and you kept them engaged with your lookbooks and collections available on your e-commerce site. And along with them, you also attracted a number of prospects online.

The current exceptional circumstances are prompting you to rethink traditional loyalty programs and take advantage of new forms of engagement driven by the web and mobile technology.

1. What do customers expect from a loyalty program today?

Consumer habits have changed in recent years, and even more so since the lockdown. They want: 

• Enjoy benefits available exclusively to members.
• IEasily integrate a loyalty program regardless of the channel. Whether by clicking a simple link in an email, text message, from the e-commerce site or by scanning a QR code in-store, a customer should be able to sign up for a loyalty program very easily. 
• AView your card and loyalty benefits anytime, anywhere. What is my status? HHow many points have I earned ? What what benefits do I get with these points ? How much is in my account?  
• Uuse their loyalty points and other benefits across all channels without exception and in real time. 
• Toexperience the feeling of being VIC and not just when you're at the checkout. 

2. What does it mean to be a loyal customer today?

Whatéithas a loyal customer for you before the lockdown ? Dida customer who used to buyregularly regularly? very frequently?  The question today is: how would you define a loyal customer following the lockdown because things have changed. PDuring the crisis, other forms of engagement have emerged. You’ve generated a lot of interest among the customers, who were more connected than usual and regularly filled their shopping carts without necessarily completing a purchase. Your brand ambassadors rallied for you on social media. And then there are all the prospects you attracted to your community of followers, who have joined you, who now follow and like you on social media.  
All of them should be considered loyal customers today! 

3. What should a loyalty program look like today?

A loyal customer is one who has had a number of online and offline interactions with your brand, and the loyalty program must now meet their new expectations and consumption habits:

• Digitize the loyalty card and your loyalty program on mobile mobile wallet will give your customers access to a dynamic loyalty card that updates in real time and provides information on rewards, points, the balance, status, expiration dates, and more… 
• Make the scoring understandable andand very easy to use for customers. It is important to explain the loyalty program, to make visible the points chart or the formula for earning rewards. 
• Track all CRM, social media, web, e-commerce, and transactionalthewill will allow you to integrate all contacts from your database without exception into an engagement framework. Each interaction would be worth a certain number of points, and each milestone will help reach a status.

4. How can you personalize rewards for your loyal customers and make them feel special?

Ttaking into accountthe wholeofthe a also the help you deepen your understanding of your customers. Thanks to this data, you’ll be able to better personalize your communications and rewards!  

In this era of post-lockdown era, the focus should also shift from a systematic cashback approach to one of recognition by offering them experiences rather than just coupons: a tote bag, ice cream in-store, a baking class, an invitation to an event—a reward for everyone! 

The key is to make all your customers feel like Very Important Customers. For example,once they reach 1,000 points, give them an experience they won’t forget, and that will motivate themto to start over from scratch. 

Imagine the impact your loyalty program could have if you expanded your target audience to include brand ambassadors and other engaged contacts! Contact us if you’d like to set up a loyalty program like this.