Practical Strategies for Starting a Loyalty Program
On the Web, success looks like this - acquire customers, dazzle customers, and keep those customers returning and spending increasing sums of money year over year.
Most enterprises recognize this of course and it's driven a significant rise in loyalty programs of all sorts. It's much easier said than done however.
What strategies should your enterprises consider if it's considering starting a loyalty program?
+ Choose the Right Type of Program
There are many providers that offers solutions to help brands roll out a loyalty program (check out Website Magazine's Master Guide to Loyalty Solutions), but it is vital that marketers know what the right type of program is for their business and their audience.
+ Employ a Gradual Roll Out
Introducing a new marketing program is almost always a challenge but the virtual headaches can be minimized (if not alleviated altogether) with a gradual roll out. Start with a limited group, perhaps with an invitation to your existing email list. This will provide an opportunity to identify bottlenecks and shortcomings that will prevent success.
+ Understand the Objectives
It's essential for brands to have an actual objective for their loyalty program because it makes it possible to measure success. Whether the aim is to increase order size, decrease customer churn, or acquire new customers, knowing the goal at the outset will prove useful.
+ Continually Measure Performance
There are many variables in a sucessful loyalty program - including the benefits being offered, the value proposition, and more. For this reason, it's essential that marketers launching loyalty program concentrate at least a portion of their energy and attention on measuring the performance of this initiatives. What should be measured are the satisfaction of the previously outlined objectives, and in general, the improvement in the user experience.