Customers that feel appreciated are far more likely to talk positively about your brand and turn out to be brand advocates. Rewards act as incentives for customers, enticing them to make additional purchases. Repeat customers spend 67% more on purchases than a new one does. More than 60% of businesses are of the opinion that they generate the majority of their revenue from repeat customers. (Source: Report by Manta and BIA/Kelsey)
Loyalty programs and rewards points have become the standard in many industries, like telecom, airlines, retail, hospitality, and wellness. As a business owner and brand marketer, you need to reward your most valued customers adopting innovative ways. Here are the top five ways to reward your loyal customers:
1. Greet customers on special dates and events
Creating and fostering a healthy customer relationship is paramount to the happiness of loyal customers and the success of your brand. With greetings, your brand gets the opportunity to interact with them by sending best wishes on birthdays, anniversaries, festivals, and more. Marketing Platforms have come a long way in assisting brands to send greetings to customers effectively. One such phenomenal tool is moLotus Milestone - an innovative feature that could run long-term automated campaigns for special occasions like birthdays, anniversaries, reminders, and festivals that are personalized and custom-branded greetings with options for name, greeting, reward, call-to-action for each customer. Prior to the advent of moLotus, tools like emails and apps were used for the purpose but with limited or no customer contact.
2. Offer easy-access coupons and vouchers
Ensure your customers keep coming back to you by intelligently rewarding them for the desired behavior. Studies have shown that customers receiving coupon codes as incentives have proven to purchase more often than when left to their own. With new-age digital marketing platforms like moLotus, voucherify, Loyalty+, etc. engage & retain your customers with real-time personalized coupons and vouchers. Also, it is advisable to automate your innovative coupons and vouchers. Interestingly, moLotus’s breakthrough mRedeem capability has replaced the newspaper/print coupons by real-time personalized event-based digital vouchers and coupons. It is much cheaper & faster distribution than print along with a high response rate. Also, mRedeem, being easier & cheaper to administrate, has reduced fraudulent usage significantly. The capability has brought in new levels of control, accuracy, and measurement for brand marketers to finally enhance campaign ROI.
3. Giving reminders to customers
Can reminding your customers really build loyalty? The short answer is “absolutely.” People like it when their lives are made easier. While no one really wants to be reminded, more brands are catching on to the fact that what matters most to customers these days is trust and convenience. Unlike unwanted spam-marketing messages, reminders are the result of specific opted-in actions taken by the customers and are a hugely important touchpoint between brands and customers. Automated reminders make a long-lasting impact, especially when brands use mobile automation platforms like moLotus to deliver automated rich media reminder messages to alert customers when important actions are required, such as password resets, low balance alerts, bill reminders, service reminders, policy renewal reminders, etc.
4. Ask for customer feedback
Everyone appreciates being asked for their opinion. As raving fans of your brand, your customers will provide you with informed opinions that could be beneficial for you in determining a new service to release, a new scheme, or a marketing tactic to try. Traditionally you can send a survey to your loyal customers to ask their opinion. For building better customer experiences, Rate-it capability of moLotus is worth considering. Get instant customer ratings and feedbacks for different business aspects via Rate-it.
5. Create giveaway contests
A giveaway contest is one of the best ways to engage and give your customers the chance to win a prize. Giveaways are a tried and tested marketing technique to create a buzz and offer many benefits. By holding a contest campaign, you can enhance brand loyalty. Although contests represent a lucrative marketing opportunity, managing them can be complex and fraught with challenges. Here is a piece of great news! It is now easier to launch and manage contests successfully; thanks to mobile promotion tools like moLotus. Studies show that mContest - a unique moLotus feature- runs hassle-free, cheaper, and faster contests with superior response and engagement. Organizing a Facebook contest, Instagram sweepstakes, or other social media contests have taken a backseat on account of social media turning out fast into a hotbed of hateful conversations.
Conclusion
If you are planning for massive growth in the current customer base, remember that keeping your current customers happy plays a big role in the process. With the above five simple and cost-effective ways to reward the most valued segment of your customers, and embracing tools like moLotus, you will be well on your way to success.