The Commoditization Of Loyalty Programs

Make Sure Your Loyalty Program Stands Out!

Make Sure Your Loyalty Program Stands Out!

Has your business added a loyalty program? If so, you are not alone. All types of businesses have added what is arguably the most cost effective form of marketing available for the smaller business. The problem now is, how do you differentiate yourself from your competition if everyone has a loyalty program?

Today, loyalty programs must be reimagined. Stop thinking that the purpose of your loyalty program is to make your customers loyal to you and start thinking of it the other way. A loyalty program is really all about making sure your customers know that your business is loyal to THEM. It’s a mindset change, but if you think about your loyalty program through this prism, you will see greater success.

All Loyalty Programs Are Not Created Equal

Many POS systems offer an add-on loyalty program. These programs are inexpensive and rely on the business owner to manage the loyalty program. These are typically transactionally-based, meaning they reward a customer once they are in the store and make a purchase that reaches that business’ spending milestone. Look for programs that engage customers when they are NOT in the store. THIS is how you keep your brand top-of-mind. Look for programs that allow redemptions right from their phone or through a kiosk. Look for a program that includes custom branded mobile offers and methods for data collection. It is in the data that you find the gold!

According to retailtouchpoints.com, a majority of transactionally-based loyalty programs fail within the first two years.

Loyalty and the Power of Mobile

It’s Not Just Rewarding Customers Based on Spend. It’s All About Consistent Engagement.

It’s Not Just Rewarding Customers Based on Spend. It’s All About Consistent Engagement.

When you create a loyalty program that is based on the mobile platform, you will have the ability to not only reward those customers for their purchases, but because you have built a database of their mobile numbers and have obtained the required permission, you can now further engage with them, when they are NOT in your store, offering them reasons to come back in. The key to a successful loyalty program is to reward engagement, not just purchases.

Make Gratitude Your Attitude

Create a database of your most valuable customers, show appreciation and nurture the relationships!

Create a database of your most valuable customers, show appreciation and nurture the relationships!

When you shift the way you think about your loyalty program and make it all about thanking your customers for their loyalty, you will start to treat those who have joined your mobile database differently than the rest of your customers. By treating this group as a special group, they will reward YOU in spades. When customers realize that they will be offered special discounts or special access not available to anyone else, they will line up to join your program. And once you have their number in your database, you can begin to nurture that relationship by making sure they realize how much you value their business.

57% Of Customers Are Willing To Share Data With You To Get Personalized Offers and Discounts

Loyalty + Relevance will ensure success. Gather data and use it to personalize your offers. Text-based communication is naturally conversational, so get your customer’s first names so you can personalize your messages. Ask them what type of info they’d like to be kept in the loop on and then send them just what they have asked for. Do this and you will see minimal opt-outs!

Mobile High 5 works with small to medium sized businesses and regional chains to help them leverage a powerful loyalty + SMS text marketing to keep customers engaged and to keep brands top-of-mind. It’s not just our technology that makes us different; it’s the expertise behind the curtain and our ridiculously fast customer service.