Reward programs are intended to exactly deliver this – be able to track and reward customer behavior. Statistics also indicate that consumer participation in rewards programs is on the rise across all demographic segments. With more customers choosing to do coupon and bargain shopping in the store, the reward programs that provide personalized rewards will prove to be differentiators if implemented with a laser sharp focus on targeted customer segments.
Best-Practices to take customer loyalty program to the next level.
- Segment Based Personalization
- “Personalize” Rewards
- Reward “In-store”
- Cross-Channel “Common” Messaging
- Break Boundaries for acquiring Customers
1. Segment Based Personalization
The way to winning the devotion diversion is to have the capacity to rightly fragment clients, and make offers in light of the sections’ profiles. Retailers are doing this in numerous ways – selecting clients in distinctive levels with clients getting the opportunity to sign-up on less premium levels and retailers having control on moving up to the high premium levels (with better advantages). The division is ordinarily based on present/saw ROI and/or the client’s propensity.
Today’s customer loyalty program can’t stand to remain a ‘rebate card’ and need to broaden past plain rewards. Retailers are moving from focuses and rebates to customized administrations, exchanging prizes to philanthropy projects, green activities, night-time shopping, access to item manuals, formulas, articles, “how to”guides and bulletins.
3. “Personalize” Rewards
Certain retailers make “clubs”that mirror clients’ enthusiasm for particular classes and permit the clients to infer unmistakable and elusive advantages by being individuals from these clubs. Some cases of clubs advanced by retailers are “Child Clubs”,”Home Décor Clubs”, “Natural Foods Club” and so on . This is another path for the clients to inform retailers concerning their extraordinary enthusiasm for certain classes
4. Reward “In-store”
Moment satisfaction at the Point of Sale or In-store as far as offers on items, moment coupons for next buy, occasion based dialogs/messages (e.g. extraordinary occasions like birthdays or dropping a thing in the internet shopping basket), thankfulness for a high total assets client are a percentage of the opportunity zones for retailers.
Retailers gather data about clients and their shopping propensities and utilization it to manufacture an exact picture of customer interest, plan exact advancements in light of information investigation and convey it in-store. POS is advancing as a complex instrument equipped for managing this gigantic measure of client and business insight.
5. Cross-Channel “Common” Messaging
Huge retailers working various organizations and connecting at numerous client touch-focuses are concentrating on incorporating the faithfulness project to guarantee that the client has admittance to the same offerings over the channels.
6. Break Boundaries for acquiring Customers
Retailers are additionally utilizing faithfulness projects to spur multi-channel connection, for instance if a purchaser normally buys in store, a coupon can be offered as a motivating force to buy on the web.Huge retailers working various organizations and connecting at numerous client touch-focuses are concentrating on incorporating the faithfulness project to guarantee that the client has admittance to the same offerings over the channels.
Retailers are additionally utilizing faithfulness projects to spur multi-channel connection, for instance if a purchaser normally buys in store, a coupon can be offered as a motivating force to buy on the web.
All the data are aggregated from Google Trends On July 16 2015