Within the present financial system, it’s sensible for retailers to position as a lot significance on buyer retention as acquisition. It is common enterprise information that it prices 3 to five instances extra to accumulate a brand new buyer than hold an present one. So what’s being completed to retain prospects?
Among the many most profitable buyer retention methods through the previous few years has been loyalty packages. Throughout the nation, air carriers (frequent flyer miles) and grocery shops (VIP playing cards) have taken glorious benefit of reward packages. As for domestically, who hasn’t had a hole-punched card from the neighborhood sandwich store stuffed of their billfold or purse?
Whereas they promote the identical idea, these examples are literally fairly completely different. The air service and grocery loyalty packages distribute rewards and seize buyer data. The sandwich store program solely distributes rewards. It doesn’t gather any data to additional profit the buyer or their enterprise.
Tip #1: When planning your buyer loyalty program, I recommend that you simply keep away from conventional (hole-punch) playing cards. Go for a Cellular system as an alternative. The expertise is current day, it is common amongst shoppers, and it offers you with a highly-effective communication device.
Do not confuse speaking with shoppers through their cellphone as spamming! Prospects “decide in” to take part and have the choice to “decide out” at any time.
Based mostly on Nielsen scores, in extra of 90% of the inhabitants 13 years and older carries a cell phone. Of those, over 90% hold their cell phone with her or him 24 hours a day.
Your Benefit: Textual content messaging has the quickest learn charge at 90% in quarter-hour with a 97% last open charge (e-mail delivers a excessive median of 17% open charge in 48 hours). No different system offers you with a extra highly effective method to work together along with your prospects!
When researching cellular loyalty packages, choose a system that makes use of your prospects’ cellphones and e-mail addresses for knowledge gathering so it would not disrupt your circulate of enterprise. This system ought to include a self-registration station or enable for patrons to supply solely their cellular quantity or e-mail handle to the clerk on the time of checkout, who then enters it into the Level of Sale terminal. The system itself ought to gather any extra data (akin to birthday, anniversary, and many others.) out of the checkout line so it is going to be quick sufficient even for quick service eating places to implement.
Tip #2: Your cellular loyalty program ought to talk with shoppers by means of textual content messaging & e-mail. Since data is gathered by textual content message and e-mail, this system ought to routinely connect the purchasers’ addresses to your shopper base listings. You’ll be able to then ship out texts and e-mails to them anytime utilizing a web-based program.
Do not misuse texts and e-mails blasts or your prospects will promptly “decide out” of this system. Any communication ought to be helpful to your prospects and mustn’t exceed 3 or 4 messages per thirty days.
Your Benefit: Textual content messages are private and allow on the spot two-way communication. You’re establishing a worthwhile relationship along with your buyer!
Tip #3: Your program ought to be absolutely computerized. Throughout buyer check-out, it ought to solely want a cellular quantity or e-mail handle to difficulty credit and disperse rewards (and by no means disrupt the stream of enterprise). Moreover, your program must also routinely distribute birthday and anniversary promotions.
Virtually all cellular companies measure e-mail open/coupon redemption charges and gives intensive reporting capabilities so you possibly can modify your program to maximise last outcomes.
Now, that is basically all of the capabilities included with peculiar cellular loyalty packages. After all, you do not need to be peculiar! Your program have to be better-than-average, distinctive. Inquire about extra options.
For instance, there is a Cellular Buyer Loyalty supplier (the one one which I am conscious of) that is absolutely built-in into Fb! That makes the subscribing companies’ service distinctive from their rivals and permits Fb customers a easy single-click signal as much as full enrollment. This system then posts related notices to prospects’ partitions and makes unique gives to their associates following the hyperlinks. The viral nature of Fb itself makes this a good way construct a loyalty program.
One other instance of additional options is the power to transmit voice broadcasts, if most popular, as an alternative of textual content. Whereas these are “above common” capabilities, they need to be built-in along with your program at no further expense.
Customers are three to 5 years forward of native enterprise in adapting to the altering channels of expertise. Catch as much as your prospects with a Cellular Loyalty Program that is enjoyable, cheap and worthwhile. Benefit from cellular advertising earlier than your rivals.