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New Year, New Approach to Loyalty Programs!

If you’re looking to kick-start a brand-new loyalty program or want more customers to sign up for your loyalty program in 2023, these tips will surely help!

January 23, 2023

The truth is that consumer loyalty is harder to find than ever. Consumers have more options available for any service or product they need, which is why businesses must set themselves apart from their competitors to retain customers.

And a loyalty program may be the thing that makes you stand out from the rest! Loyalty programs have proven to grow customer retention and help reach new customers organically — and what business wouldn’t want that?

Entrepreneurs Every Business Should Listen To

START WITH THE CUSTOMER EXPERIENCE

A positive customer experience promotes loyalty, retains customers, and encourages brand advocacy. This also allows companies to get feedback on what customers like and dislike. The data collected helps leverage key customer insights you can implement into any loyalty program.

DECIDE WHICH CUSTOMERS TO TARGET

Based on the feedback collected, you can categorize your customers according to your objectives. These can include, but aren’t limited to, customer profitability, volumes of purchases, location(s), and buyer types. If you recognize your demographic, you can tailor your loyalty program to them. This ensures that your customers like what they see and are more likely to return or refer a friend.

CHOOSE TACTICS THAT WILL ENCOURAGE LOYALTY

Loyalty programs have to stay consistent, but customers still love originality! You don’t have to neglect any new business development because the right approach can introduce unique and different benefits that excite customers. Some examples to consider are:

  • Premium service guaranteed 24/7
  • Additional discounts when purchase milestones are reached
  • A point system
  • New benefits for referrals
  • Product protection with an active membership

TRAIN YOUR EMPLOYEES TO BE WELL-VERSED ADVOCATES

Taking the time to walk your employees through your loyalty program will guarantee they are confident in explaining and promoting it to customers. They will be more invested in your program if your employees know the perks, features, terms and conditions, and all the other essential information you’re trying to bring to light. If you’re looking to kick-start a brand-new loyalty program or want more customers to sign up for your loyalty program in 2023, these tips will surely help! Achieve this, and your loyalty program will enjoy tremendous success.

West Coast Franchise Law

If you have any questions about franchising, please contact the experienced franchise and business law attorneys at West Coast Franchise Law today at (206) 903-0401 to discuss your situation. Nate Riordan is a 2023 Franchise and Bankruptcy Super Lawyer with over 20 years expertise helping clients achieve their business goals.