In 2015, there was an average of 29 loyalty program memberships per U.S. household. 71% of those making more than $100K USD are enrolled in a loyalty program.
How can you use loyalty programs to tap into this buying power?
Our friends from Selfstartr created this infographic and guide on loyalty programs to show the usage, types and effectiveness of customer loyalty programs.
7 Quick Tips For Creating Value From Your Loyalty Program
Choosing the right loyalty program software is the first step. But how can you deliver value, while increasing participation in your program? These steps can help you encourage loyalty:
- Reward for signing-up: Creating an account can be a hassle for customers. Give them a reason to create an account by offering points that are instantly earned.
- Reward for spending: 97% of customer loyalty programs reward points when customers spend money. It is easily understood and managed. But you can’t rely on this, solely. 77% of transaction-based programs fail in 2 years.
- Reward for reviews: User-generated content like product reviews are critical for ecommerce websites. Product reviews add social proof that aid in the buying process for other customers. Reviews can also help with SEO. Reward customers with points for providing product reviews.
- Exchange points for physical goods: Once a customer racks up points give them something of value. Allow them to easily redeem their points for products from your store.
- Virtual badges go a long way: Allowing customers to turn points into status based rewards like virtual badges can create additional excitement to your rewards program.
- Go social: Adding a social component like sweepstakes or contests is a fantastic way to build engagement and attract new visitors to your website.
- Write effective emails: Make sure your emails speak directly to your customers. Avoid generic cookie cutter copy or meaningless jargon. Antavo allows you to create custom emails for your rewards program.
Darren has an MBA in Internet Marketing, but hangs his hat on a decade of experience in the trenches. Check out Selfstartr to learn more about ecommerce.