However nice-looking your online presence, calls to action, or promotional plans maybe, you have to keep adding fresh loyalty marketing strategies to draw more leads. You can leave no stone unturned to increase the conversion rates for your brand and products. However, the mere addition of new customers to your database is not enough. You need sustainable and well-thought-of marketing strategies to retain your existing customers and keep them in the loop. In other words, there’s a much bigger picture for your e-commerce store; one that will escalate your sales and optimize your digital marketing efforts manifold.
Read on to know how loyalty solutions can add volumes to your lead generation and social media branding projects. Here, you’ll also get to know how these strategies can escalate brand growth and make your customers return for more.
Loyalty Marketing – an Overview
According to a study conducted by Forrest Research, retaining existing customers is 5 times less expensive than new customer acquisition.
When you choose to invest in this marketing strategy, in effect, you encourage your customers to transact with your brand and products over and over again. Along with consolidating your customer loyalty metrics and adding incentives to purchases, loyalty plans focus on retaining and bringing back existing and past customers to increase your sales. The following points explain how brands are benefiting with these solutions.
- They can onboard and manage customers with automated, digital, end to end platforms.
- It is easy to influence and reconnect with customers via smart and integrated marketing solutions.
- Marketing strategies provided by a customer loyalty program software ensures repeated customer engagements.
- Customers, influencers, distributors and retailers can engage with multilevel loyalty options.
- Brands are investing customizable redemption options to increase engagements with their stakeholders.
- They are using simple dashboard features to analyze, track and finetune their operations.
Rising Need for Loyalty Marketing Software Solutions
As per the bestseller “Marketing Metrics”, in comparison to the probability of 5-20 per cent for successful sales to new customers, companies have a 60-70 per cent probability of selling their products to current or past sellers.
Also, as per statistics released by Gartner Group on customer loyalty, 80 per cent of the future revenue of companies is likely to come from a mere 20 per cent of their current customers.
Given the significance of customer loyalty program software programs, organizations are now working on the long-term profitability metrics of customer retention. They are laying focus on reliable loyalty platforms for the onboarding, redemption and retention of customers.
Customer Loyalty Strategies
1. Customer feedback is important
The primary aim of marketers should be to reduce detraction rate, understand why customers are leaving or staying, etc. by using opinions or feedbacks. For instance, Nike uses a separate Twitter handle to take care of customer support services, feedbacks and queries professionally and quickly. According to successful customer loyalty marketers, customer feedback, suggestions about improvements, satisfaction surveys and mobile app reviews may be solicited to increase customer engagements.
2. Give social media credence to loyal customers
A scalable customer loyalty platform, contests, rewards and social media giveaways are proven ways of customer engagements; they also pave the grounds for shares on networks. Once you receive customer inputs about your products and services, strive to use popular social media platforms to show your appreciation and encourage further interactions.
3. Reward programs attract repeated engagements
Loyalty reward programs (promos, birthday deals, freebies, etc.) provide robust means for increasing customer retention and brand patronage. They make your customers feel good and special about buying from you and gaining special treatment from your brand in return.
4. Referral programs
While customer loyalty programs influence future purchases, referral programs provide incentives to customers to refer your brand to their friends. Word-of-mouth advertising and referral programs spread the good word and experiences about your core products. Alongside, rewards, points and genuine interactions with customers help in creating more support for your brand.
NeuroTags Customer Loyalty Platform
NeuroTags presents a PoS independent onboarding program for seamless customer engagements and participation. Our loyalty marketing software has several easy-to-use redemption options. With helpful features for personalized communication, it fulfils the needs for customized customer re-engagements fitfully.
Propel your customers acquisition strategies in the right direction with the help of NeuroTags’ customer loyalty program software. We present a full range of standard and custom APIs to align your system and apps through the best APIs. Our dedicated teams assure optimum returns from your marketing campaigns and pave the way to global success. Reach out to our reliable marketing capabilities to include smart, integrated marketing digitization on robust platforms, today!