Rewards Program as a Marketing Strategy is Still Effective
If you are running a business and you wish to increase the number of people patronizing your products, perhaps you have to give a closer look at rewards program. This is a strategy that has long been used by companies, but is still effective until now.
At first look, it is just another expense on your end. The truth is that you will get back more than what you have spent in the end. You have to spend money for these reward programs, but it is also your marketing strategy. Just like any other marketing strategy, you really have to spend money.
Don’t think about the freebies you are giving away, but on how popular your company will become once you have implemented this program. You should also not think about the added expenses, but on increased income once these clients become loyal to your company.
Be creative
Your rewards program must be something that would make people consider choosing you over other options. Take note that there are loyal customers. Convincing them to switch to another option could be difficult. Your program must make them realize that they are getting more from you than their current choice. Of course, you should also target those who are easily swayed. This is the most important group since it is easier to convince them as they have not yet pledged their loyalty to just one company.
Give them more
These reward programs will surely make the clients feel special. Let them know all the benefits and privileges they will get once they sign up. Make them feel as if they have a VIP status that non-members don’t have. Let them know first if you have upcoming promotions. Send emails, newsletters and other updates so they will be first in line.
Look for other partners
It is great if they get discounts or freebies from your company. However, it would be better if you have partners. They will get a lot more if they have freebies from these companies too. They will be attracted more since they only sign up with you, but their rewards may come from other sources.
Give surprises
You have to explain exactly what they are getting if they will sign up. This doesn’t have to be constant though. Next time, you can offer them something else. This is true especially during the holidays. Send them gifts to their homes or let them have bigger discounts if they buy from your store. This element of surprise will surely make them remain loyal with you.
Rewards programs have been very valuable as marketing tools over the years. Several companies have used this as a strategy to retain loyalty. Again, you have to think in a longer term to appreciate the value of this strategy even more. Once you retain customer loyalty over a longer period of time, you will understand just how effective this strategy is.
Photo Attribution:
Featured and 1st image from Stuart Miles/freedigitalphotos.net
2nd image from Stuart Miles/freedigitalphotos.net
