How to build customer loyalty program?
Jan. 17, 2019, 4:30 p.m.
Some sources claim that winning new customer costs five times more than keeping the old one. For sure it's easier to persuade a person that knows your product to stay with you than to find a new one, aware of your brand and problems that your product resolves, and then finally convinced that your company is the best one.
Customer Loyalty Program helps to not only limit customer churn but also gives you a chance to make your customer become your best marketer thanks to his recommendations and positive reviews.
Below you can find key elements of a customer loyalty program:
- Get to know your current customers. It's a pre-preparation phase of the customer loyalty program. Without solid research about your company personas and your clients, you won't build a relevant tactic.
- Interview your customers. Check which ones are good at managing their businesses and are open for dialog. Pay attention that it should not be reps of companies where the sales process takes a long time. Better select customers that buy your product frequently and ask them to join your program.
- Set your loyalty program goals. Think what results you achieve on a typical business timeline and decide what's your new target. Use a CRM to measure effects!
- set a budget for the loyalty program
- Create tactics that will support your goals achievement. Create additional awards that encourage customer's loyalty, taking under consideration it needs to be connected with their purchase. Examples? You can offer premium helpdesk, extra assistance or coupon codes.
Of course, this is a short description of the main pillars of a customer loyalty program. Correctly created promotion can be a relatively quick solution that will help your business growth, and thanks to reviews from happy clients - will help you to attract also new ones.
Good luck! :)