Your best partners and business consultants are your customers! They vote for your business with their euro, support it, and develop it. A loyalty program primarily helps you attract new customers and retain old ones. But most importantly, it enables you to collect more information about your customers and their preferences. Your sales will no longer be depersonalized, giving you more data for further analytics. With more data, you can build better communications with customers and motivate them to buy more.
Many retailers do not have a loyalty program due to concerns that additional discounts only reduce profit margin.
But at the same time, all retailers give discounts!
This could be a product promotion, a seasonal discount, a discount due to an expiration date, a discount on a previous model or collection,
a discount on delivery, a discount on accessories, and others.
Suppose you want to avoid giving additional discounts but build long-term relationships with your customers.
In that case, the easiest and fastest way is to give all existing discounts and privileges only to the owners of your membership or loyalty card!
Referral programs are a powerful tool for explosive growth for many well-known startups. This approach is used by unicorns like Revolut, Uber, Airbnb, and Dropbox, as well as other companies such as monobank and JABKO.
According to Nielsen research, 92% of consumers trust recommendations from friends, colleagues, acquaintances, and family more than any other sources of information. Word-of-mouth works on its own, but with a well-designed referral program, it can operate like it’s on steroids!
Create a customer base from scratch or import it from different sources
Deduplicate customer data
Create and set up a loyalty program
Get your customers into the game so they spend more with gamification mechanics
Digitize loyalty cards, coupons and membership cards using Apple Wallet, Google Wallet, Pass2U, etc.
Communicate and collect feedback from your customers
Automate and optimize many of your customer interaction processes
Improve and track customer experience