Have you noticed that there are more and more loyalty programs lately? Wonder why their relevance has grown? The loyalty management market is predicted to be worth $15.5 billion by 2025, so it is clear that loyalty programs aren’t going anywhere, but loyalty strategy is definitely changing. Creating a loyalty program is a complex task. In order to succeed, you need to get the foundations right and select the right type of loyalty program that fits both your business model and audience perfectly. To help you with this process we have compiled a collection of useful articles on how to create a loyalty program.
1. From the Ground Up — Creating the Concept
When launching a loyalty program there are so many aspects to consider. What kind of rewards should I use? How can I make it appeal to my customer base? What should the core principle be for my loyalty program design? With the articles below, we’ll help you consider the key characteristics of your future rewards program. And these resources will help you get a better understanding of your company’s loyalty program priorities.
Top resources on concept building:
- How to start planning your loyalty program concept?
- Get inspiration for your reward program’s concept – Worksheet
- What are the differences between traditional and a recognition loyalty programs?
- What are the benefits of writing a loyalty program RFP?
- Compare loyalty program providers
2. Let’s Get Calculating — Budget Planning
Companies are investing more and more in customer loyalty. However, a successful loyalty program doesn’t have to cost you an arm and a leg. We’re here to provide guidance in planning a cost-effective loyalty program: from what steps you need to think through to budget your rewards program to what elements you should pay close attention to, like revenue modeling and reward costs. With the help of this article and ebook ,you can now learn how you can save money while increasing ROI.
Top resources on budget planning:
3. Pop the Question(s) — What Rewards to Choose?
When planning and creating a loyalty program many unanswered questions arise. Benefits are what motivate customers to change their behavior, so finding creative ways to reward your loyal customers is key. In our first guide listed below you’ll find seven vital questions to ask yourself when choosing loyalty program rewards. Answering them will help you design rewards that work best for your organization. And because the possibilities are endless, we’ve provided some ideas to help you get started.
Top resources on choosing the best rewards:
- Building a reward system for loyalty programs – Guide
- The ultimate loyalty rewards handbook
- The ultimate guide to loyalty program rewards – Ebook
- Rewards planning – Worksheet
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4. The Loyalty Structure That Fits Best — Choosing a Loyalty Program Structure
Finding the right type of loyalty program that best works for your business and strategy can be a challenge, but it doesn’t necessarily have to be. In our article “Which Loyalty Program Type Benefits You the Most?” you’ll find a guided list, with corresponding statements that are tied to a specific program. The statements that resonate most with you will indicate which types of loyalty programs could be the most beneficial for you. In our collection you will also find more detailed descriptions of the various loyalty program types, which will give you more insight on each different structure.
Top resources on choosing the most suitable loyalty program type:
- Which is the best fitting loyalty program type for you?
- How to encourage shoppers to keep purchasing?
- Why tiered loyalty programs are attractive for customers?
- How to generate an emotional attachment to your brand?
- How to launch a successful subscription loyalty program – Guide
- Are free or paid loyalty programs more effective?
- 5 ways to build a loyalty community
- All there is to know about coalition loyalty programs
- Rewarding customers for their lifestyle choices
- How to generate brand loyalty with a referral program?
- Fun ways to engaging customers
- How to merge different loyalty program types?
5. Make It Stand Out — Enhancing Your Loyalty Program
Every loyalty program has an onboarding period, when brands can learn about members’ interests and preferences before they start buying. Use all that data to personalize, creating the best possible experience for your most valuable customers from the very beginning. The more personalized your communication, the more engagement your loyalty program will receive.
There are also many possibilities for you to boost your loyalty program and engage customers outside of the buying cycle. Implement gamification elements, like quizzes or a prize wheel, which will also help you collect more data about the customers. Make sure that customers feel recognized and rewarded across every interaction.
Top resources on boosting your loyalty program type:
- Enhance your loyalty program with gamification – Guide
- Best practices for gamification in loyalty programs – Ebook
- Email personalization through loyalty programs
- Enhance omnichannel marketing through reward programs – Guide
- The best tips for a perfect loyalty program name
6. Perfect Timing — Scheduling the Launch
How do you decide on the right time to launch your loyalty program? There are many aspects you need to consider, such as whether you wish to launch your loyalty program during peak season or maybe during a less stressful period. Having a solid scope helps you identify the right loyalty technology provider and makes it easier to formulate a budget plan and integration timeline. You shouldn’t forget to take the current stage of your company’s evolution into account as well, as companies need to reach a certain maturity and readiness before they can fully reap the benefits of a reward system.
Top resources on scheduling your loyalty program launch:
- When is the perfect time to launch a loyalty program?
- Holiday rewards program ideas for the new customer reality
Discover the best approach to engage customers on every channel possible and find out how to serve your community.
7. Be an Expert — Building the Loyalty Program Itself
In the world of customer loyalty programs, building a reward system that stands out is a major endeavor for any company, and it can be a game-changing opportunity if created with care and precision. In the guide below, you’ll find answers to questions like “Where should I start?” “How long will it take to implement the loyalty program?” “What features should we include?” and “What if my customers don’t like it?” These are questions you’ve probably asked yourself while doing your research. Now we’ll help you find the answers.
Top resources on building a loyalty program:
- Everything there is to know about customer loyalty programs
- A complete walkthrough on loyalty programs – Ebook
Antavo’s Core Capabilities include next-gen loyalty logic to satisfy all your business needs, gamified touchpoints to increase engagement rates, an advanced machine learning framework, and supercharged customer profiling to fuel your personalization efforts.
8. Make No Mistake — How to Create a Loyalty Program That’s Successful
In theory the answer to the question “how to create loyalty programs?” seems so easy. You give points to customers when they shop then they use those points to receive rewards. But, of course, it is not really that simple. There are several pitfalls in loyalty program management that you can avoid by reading the articles below. Examples range from overcomplicating things to only rewarding transactional activities to lacking omnichannel and mobile versions of the loyalty program. Luckily we’ve shared some pointers on the most critical mistakes to avoid, so you’ll be right on track.
Top resources on avoiding loyalty program management mistakes:
There are several approaches to ensure the success and popularity of your loyalty program. Check out the top strategies in the resources linked above.
Waste No Time, Act Now!
As organizations are realizing the importance of retaining and engaging their audience in an entirely new customer reality, loyalty programs are being launched or revamped in a wide variety of sectors. Since loyalty programs are becoming a standard practice, companies need to make sure that their program stands out from the crowd. To do so, companies need to bring something special to the table and consider the trends that are gaining momentum. The above collection of articles is intended to provide you with the key points to think through and make your job easier when creating a loyalty program.
Ready for a discussion about the future of your loyalty program? Or do you feel that we’ve missed something you were looking for? Don’t hesitate, our experts at Antavo are more than happy to help. Book a demo to talk to our team and learn what our technology is capable of, or send us an RFP.
And don’t forget to download Antavo’s Customer Loyalty Report 2022, an in-depth report that showcases dozens of statistics as well as future industry trends to help you navigate the world of next-gen loyalty programs.