Launching an online business entails a lot of hard work. During the initial stages, you’ll tackle fun and exciting asp
Many online retailers have taken steps to incorporate a loyalty program only to have it unexpectedly collapse after a short timeframe. A number of reasons can contribute toward the failure of a rewards program, reasons that more often than not stem from insufficient planning and strategizing.
A loyalty program is a proven tactic for increasing the lifetime value of customers, driving sales, and reducing cart abandonment. But in order to capitalize on the numerous benefits provided by a loyalty program, you need to strategize a plan that yields tangible benefits for both their business and customers.
Before you launch your very own loyalty program, here are some important tips that can help you maximize your profits and chances of success.
Shoppers are attracted to simple loyalty programs that provide big rewards for simple, easy-to-complete tasks. Incorporating a complicated rewards program that’s difficult to understand or utilize can result in customer frustration, mistrust toward your brand, and a low sign-up rate that will ultimately lead to your program’s downfall.
Ideally, the benefits and perks of your program should be plainly evident, with simple, easy to follow rules. A quick overview of how your program works should entice and compel shoppers to sign up without delay – an action that’s near impossible if your customer is left stumped or aggravated by the complexity or vagueness of your program’s rules and benefits.
More often than not, customers reading the details of your rewards program are looking to take immediate advantage of its perks. Requiring a complex, long signup form or approval process will discourage customers from signing up, and instead encourage them to further contemplate whether your program is worth the time and hassle. An email entry option, however, is an incredibly fast sign-up method that allows customers to sign up without a second thought.
A loyalty program’s intent shouldn’t be geared toward offering perceived deals and rewards. Today’s shoppers are looking for brands than offer more than just low prices; they want to be rewarded for their continued loyalty and future purchases. Offering measly, cheap rewards or a limited selection of eligible products will lead to customers feeling cheated and neglected, and will consequently result in them taking their business elsewhere.
Thousands of programs exist to lure and entice customers. Take steps to ensure your loyalty program can match or beat your competitors.
Customers taking advantage of your loyalty program are likely members of a half-dozen+ other programs as well. To bring traffic to your online store, it’s important that you keep in touch with your loyalty members. Communicate with them via email campaigns, social media, your blog, or any other marketing channel of your preference to remind them of their accrued points, the advantages of your program, and other special promotions or events tied to their membership.
Your loyalty program can be a major selling point for your store, but without smart and sufficient marketing, few shoppers will get a chance to learn of your program’s existence. Take to your social media accounts, send out newsblasts, create banners, PPC ads, or opt for other channels to market and publicize the many perks and advantages of your store’s loyalty program. Moreover, ensure your program is clearly visible on your website’s homepage – don’t make customers scour through your site to find the sign up form.
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