As a small business owner, you are always on the lookout for the best asset to keep your business growing. Believe it or not, but the answer to this question is right in front of you. It’s your current customers.
You already know that these individuals are willing to buy what you have to offer. They’ve done it in the past. Keeping them around is in your best interest, and one of the best ways to do that is by creating a customer loyalty program. This lets them know that you appreciate them, but it will also increase customer lifetime value.
Reasons Why You Should Create a Customer Loyalty Program
The internet has been around long enough that you should recognize it has changed how people look for and buy various products. In response to customer demands, the internet continues to evolve and change, and you should be changing with it. By developing a customer loyalty program, you encourage people to come back and buy from you — but it also goes beyond that.
Using technology to your advantage, you can gather valuable information about your customers and use it to grow your business and make their lives better. Here are some reasons you should create a customer loyalty program and use the top customer loyalty program software to help you with the endeavor.
1. Increase Customer Retention
Your current customers don’t want to be viewed as a number or just as a sale. They want to form a relationship with your brand and company. When you create a loyalty program, you’ll be able to stay engaged with your customers beyond the initial sale. This lets them know that they are valued and essential, and it may encourage them to keep coming back to your business to buy your products.
2. Helps You Develop Your Flywheel
Several years ago, the model for selling to customers online was referred to as a funnel. The top part of the funnel focused on marketing, and it was the widest section to be able to catch as many potential buyers as possible.
As you move those individuals to the smaller part of the funnel, this is where sales happened. The focus of the funnel model was on you. Since customers want to be the focus of your marketing efforts, a funnel no longer works.
Now, using a flywheel is the accepted way to do marketing. What makes this different is that the customer is at the center of everything you do. You create messages and ad campaigns that customers want to hear. You ensure your service focuses on what customers need.
When it comes to knowing exactly what customers want, you need to ask them. Who better to ask than those who are already buying from you? With a customer loyalty program, you can gather data and insights necessary to keep your customers happy and develop marketing strategies to boost sales. It’s a win-win for everyone.
3. Improved Customer Experience
Customer loyalty helps you keep your current customers happy, but it gives you insight into how to attract new customers to your business. Satisfied customers are more willing to become loyal to your company and brand, and they may be willing to recommend you to others.
Referral marketing is one of the most powerful ways to attract and retain customers. People trust what others have to say about products or businesses. Having your customers engaged with your company and happy with their purchases will work to your benefit when it comes to attracting new buyers.
If your current customers are leaving good reviews about you and your products online, you can use this to let others know what you’re doing right. Using data, you gather from your loyalty program, you can use it to keep your current customers happy and attract new ones.
4. The Program Itself Might Attract Customers
Many people get excited about the thought that they will have more control over their online purchases. If they know that they can get discounts, gifts, or other rewards when shopping with your company, this might be all the encouragement they need to sign up.
If you offer them an exclusive sign-up bonus, they’ll be able to use their rewards sooner. This could lead to an influx of new customers signing up and buying your products. Once they become repeat customers, you can offer them more rewards and gather more data to make their shopping experience even better.
The Top Customer Loyalty Program Software
Technology has made it easier than ever to create a loyalty program for your customers. In the past, many stores used cards or phone numbers to keep track of their loyal customers. While this can still be used, there are ways to make it easier for your business and buyers.
Many customers buy their products online, and by incorporating the right software, you can track their behavior and gather essential data — without having to use cards. There are many software options to choose from, and some of the top customer loyalty program software includes the following:
Annex Cloud offers an integrated approach to referral marketing, user-generated content solutions, and customer loyalty software. Using these features, you can grow your referrals and content over time. This can help you establish strong relationships with your customers.
This software also allows for customer social and behavior tracking. You even have the opportunity to create a paid membership loyalty program in addition to a rewards program. This will enable you to create an experience that is special and unique — just like your customers.
Zinrelo uses data sciences, machine learning, and 360-degree customer engagement to create a loyalty rewards program that works to maximize per-customer revenue and repeat sales. It uses multiple dimensions to achieve this loyalty, including social, referral, engagement, emotional, behavioral, and transactional.
This software can integrate seamlessly with a variety of eCommerce platforms. You should quickly and easily launch a customized rewards program when adding this software to your business.
This software focuses on retaining customers by utilizing an integrative, comprehensive CRM, secure redemption system, and a rewards system customized to your customers' wants and needs. You can bring customers back to your business using email, texts, and marketing tools for mobile apps.
It is easy to sign up for this program, and all that needs to be input is a customer’s phone number. You can then create reward programs that are based on customer behavior. It keeps track of customer data in a way that is CCPA compliant.
You can track your progress on your dashboard. This includes information about how many new customers have signed up for your program, the rewards that are being redeemed, and how many customers have made return visits and other metrics.
Smile.io is the world’s largest reward program provider, and it allows you to create a referral, VIP, or points program from one platform. You can customize your rewards program to ensure you are getting the most customer engagement possible. You also have the opportunity to reward customers based on specific actions, including when they leave product reviews or if they share your product or business information on social media, among other behaviors.
This software also offers Smile Apps that can be integrated with Klaviyo and MailChimp. If you have BigCommerce, Shopify, or Shopify Plus app stores, you can use Smile.io seamlessly and effortlessly to reward your most valuable customers.
When it comes to collecting customer information that will keep them engaged and returning, using Belly is in your best interest. In essence, it takes the idea of paper punch cards and transforms it into a digital loyalty card or digital stamp card.
You can build your customer loyalty program using your iPad. From there, customers can sign up and start earning reward points. It is easy to set this program up, and you can even tie it to your Twitter, Facebook, and Yelp accounts to get even more exposure.
Goody is an online loyalty program, and Customer Relationship Management (CRM) software. It was created to optimize and manage your company’s engagement program. It helps you accomplish this by giving you complete control over how many points your customers can earn by engaging in specific behaviors. It uses cloud-based software that makes it easy for you to create and edit the rewards you offer. It’s also easy to track and reconcile reward points from the cloud.
Apex Loyalty differs from other software available in the fact that it offers a drag-and-drop design deck. This makes it simple and easy to build your platform. You can also manage campaigns through tracking and segmentation.
This software provides a loyalty program that allows your customers to redeem their points for gift cards to places like eBay or Amazon. If you have a store on these sites, you can direct customers back to you and have them buy your products.
If you are hoping to create a customer loyalty rewards program that is unique to your business, then Open Loyalty is the software you want to use. You can utilize an open-source platform that gives you access to a customization deck and source code for your rewards program.
You’ll be able to analyze customer data and have omnichannel tracking and segmentation capabilities. You’ll be able to track customer activity, offer a portal to your loyal members, track referrals, and manage gift cards.
Finding the Loyalty Program that Works for You
With so many different software options to choose from, it shouldn’t be challenging to find the loyalty program that will work best for your business and customers. Reward programs are a great way to keep customers engaged and coming back to your business. You need to be thinking about making sales in the present, but you need to consider your future as well, and loyalty programs can help.
At E-Marketing Associates, we want to help you create marketing campaigns that get results. We can help you do it by putting together a marketing business report that includes invaluable insights into how your business performs online compared to your competition.
We can also help you develop websites that will improve sales or generate more leads. Once you have attracted customers and made a sale, you need a way to keep them loyal and come back.