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INDEPENDENT FOCUS: EXPERT OPINION


The hardest part is actually keeping them! With so much competition, keeping yourself in your customers’ line of sight is always a challenge. To build up a loyal customer base, you have to prove to them that it’s worth their while. This is where customer management and loyalty programmes come in. Loyalty programmes are a fantastic way to reward


A customers for


supporting you over a long period, and to incentivise new customers to become repeat customers. However, many programmes struggle to gain currency with customers. Usually this is because retailers are after a quick return, rather than investing in strategies to provide customers with longer-term incentives. The key to a successful loyalty programme, no matter what it is that you sell, is to keep things straightforward and compelling. Here are the top five ways you


can make your loyalty programme more engaging:


On


average, consumers belong to about 14 different loyalty programmes, but only engage with 6.7 of them. Why? Because the price of earning rewards is too steep. If you only reward customers for spending money, you may not be forging a strong enough connection with your shoppers. They might have purchased from you once, but this isn’t necessarily going to turn them into a repeat buyer. Between 60-80% of consumers don’t become repeat customers, even if the experience was ‘satisfactory’, because they lacked a connection with the brand. In this


1 climate, brand loyalty


isn’t easily created. You need to give your customers a reason to care about you, and by extension your rewards programme. The best way to do this? By making it as accessible to participate as possible. Rather than only giving rewards for purchases, give them recognition for the different ways they can interact with your brand. In fact, this is exactly what 75% of customers want from the loyalty programmes they are part of. In the world of multi- channel retail, these ways have never been more plentiful! Consider offering rewards for: •Social media follows and/or shares •Getting friends to sign up


18 DIY WEEK 27 SEPTEMBER 2019


Rewarding shoppers for various activities


ttracting customers to shop at your business isn’t always the hardest


part of being a retailer.


Five ways to build a more successful loyalty programme


BIRA’s preferred partner for retail EPOS, Vend offers independent retailers its top tips on loyalty reward schemes


•Leaving a product review •Subscribing to email promotions and other publications •Donating you support


to causes programme. It that


This serves another purpose besides building a more active loyalty


creates a


community around your brand by encouraging interaction on your platforms. Communities create emotional connections, so this gives your customers a stronger motivation to participate in your brand’s culture.


It’s all very well making it easy to earn points, but you need to offer ways to redeem them too! This is where a lot of loyalty programmes fall


2 flat. If there are too many


strings attached to the redemption process, or the time between earning and gratification is too long, your customers are quickly going to lose


Not making it too difficult to earn great rewards


interest. To keep interest alive, you need to make your programme as


straightforward as possible to participate in. Keep it


simple by using a


points-based system — there’s nothing customers hate more than a complicated earnings process. If your customer checks their status, you want them to be able to see instantly what their progress is (and where they could put their points to use!) Keeping things at one point for every dollar ensures that it’s easy to understand. Keep the threshold for redeeming low — if your customers have to spend big before they see a return, this gives them very little incentive. Even if certain categories of rewards cost more, you need to provide some ‘low-hanging fruit’


that is easily


accessible to your newer customers. Acquiring new customers can cost your business up to five times more than retaining your existing base. So, your loyalty programme should be an


incentive to be loyal, not a deterrent.


Here’s a common scenario: your customer has had their eye on one of your products for a while now. They have the intention to buy ‘at some point.’ However, a vague future intention to purchase doesn’t help your sales figures. You need to give them that extra ‘push’ to fulfill this intention, or it’s quite likely they never will. The best way to do this? An exclusive, time-sensitive offer. Double or triple point reward deals are much more valuable to you than a regular discount sale. Whilst the latter would be just as likely to convert your customer, it doesn’t tie them into any future purchases with your brand. Double or triple points, on the other hand, give your customer a major incentive! It also adds more value to their purchase, because the idea of redeeming points becomes much more accessible.


3 www.diyweek.net


Offering double or triple points to drive sales


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