How to Increase Customer Loyalty (and Engagement) using Decision Point MarketingMay 15th News & Updates
Increasing customer loyalty. As simple as it sounds, it is one of the biggest ways to increase profits and grow sales. For marketers, it translates to ‘a sure fire way to stay on the radar of a target market already overloaded with advertising.’ And if that didn’t get you excited, did you know that repeat customers spend on average, 67% more than new customers? And existing customers are 50% more likely to try new products.
That means that 1 in every 2 of the repeat customers that make the decision to return to your business will buy your new product offering.
But the trick is, you have to get them to come back in. And what typically happens with loyalty programs or campaigns is the customer starts off strong and then loses interest. For any number of reasons, they get busy, they move, or worst of all, they forget about you. It’s up to you to not let that happen.
Increasing Customer Loyalty with a Jaw-Dropping, Excitement Building Loyalty Program
There’s no denying the effectiveness of a loyalty program, but how do you get the customer to actually make that turn into your business and sign up. We’ve talked about decision point marketing and how it entices people driving past your location to make a right hand turn and spend a dollar. Putting that into practice means that your existing customers (and new loyalty program members since they’ve signed up for your amazing program) will see your messaging often, stay engaged with your program and be returning often to take advantage of their rewards. And according to Forbes, that is the goal… 31% of executives say that improving customer engagement is a priority.
Without a doubt, the backbone of any loyalty program is eye catching marketing. When a Fort Worth dental office wanted to introduce a new promo for increasing customer loyalty, they developed messaging that would catch the attention of people driving past their locations. They used decision point marketing that left no question as to what they were promoting to their customers.
Additionally, attention grabbing marketing can also act as a ‘reason to return’ for the customer. A location’s outdoor POP is the catalyst for getting the word out. Otherwise, how are program members going to remember to redeem their NEW OFFER AVAILABLE ONLY TO MEMBERS…
According to 3Cinteractive, 70% of consumers do not sign up for a loyalty program due to the inconvenience and time required to complete registration. This, added to the multitasking nature of consumers means that your customer loyalty program must be sharp, robust and above all, easy to sign up for.
While getting customers to sign up for your program is one thing, retaining their status as members is another. Consumers cite “programs that require too much spending to reach the next level or next reward” are on their dislike list. What do customers say is the number one aspect of a loyalty program and would keep them as interested members? A wide range of offers. So instead of just a free drink, offer a free sandwich, bonus points or a free dessert. Let them pick.
When is your loyalty member’s birthday? What do you send when they’ve just purchased their first catering order? Relevance is key for keeping your customers engaged with your new customer loyalty program.
And not just any offer will do. Just because you want to push your free burger campaign doesn’t mean it’s the right offer for a customer who usually purchases chicken. If it’s not relevant to them, they aren’t going to care…. or stay engaged with your program very long.
Increasing customer loyalty revolves around identifying your best customers, treating them better and giving them offers that meet the following criteria:
They are eye catching.
They are simple to understand and use.
They are rewarding.
They are relevant to them.
Successful loyalty programs reach a high ROI because they build a community of customers who visit more, buy more and recommend others buy more from you too. And with the way competition grabs at your business from around every corner, repeat business is not just essential, it can make or break you.
Find out how we can help you increase customer loyalty at your location, Request a Quote today!