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If you’re an eCommerce business owner, you know that it takes a lot of hard work and dedication to keep your customers returning. It’s not easy to create a website that people will want to visit time and time again, but with the right tools in place, it can be done. One of those tools is a loyalty or rewards program. It’s such a popular option these days among consumers that 83% of all online shoppers are a part of at least one loyalty program. Today we’ll discuss the benefits of having one of these programs for your customers and how to set one up!
Benefits of Having A Rewards Program
A loyalty or rewards program for your customers has many benefits. For one, it shows your customers that you appreciate their business and want to keep them coming back. It also helps to build brand loyalty and can increase customer lifetime value. Additionally, these programs can provide valuable data that you can use to improve your marketing and sales strategies.
Some other benefits of setting up a loyalty or rewards program include:
- Increased customer engagement
- Improved customer retention
- Attracts new customers
- Generates repeat business
- Boosts sales and revenue
As you can see, there are many reasons why you should consider setting up a loyalty or rewards program for your eCommerce business. But how do you go about doing it?
Setting Up A Loyalty or Rewards Program
The first thing you’ll have to do before setting up the program is to decide what you’ll be offering your customers and how they’ll accrue rewards. A few different ways to do this are:
- Purchase-based: Customers earn rewards for every purchase they make. This is a great way to encourage customers to buy more from you
- Action-based: Customers can earn rewards for taking certain actions, such as signing up for your newsletter or following you on social media.
- Referral-based: Customers can earn rewards for referring new customers to your business.
Once you’ve decided how customers will earn rewards, you’ll need to set up a system for tracking and redeeming them. There are a few different ways to do this:
- Digital loyalty cards: Customers can add your digital loyalty card to their smartphone and use it every time they make a purchase. Qr codes make it easy to track and redeem rewards.
- Paper loyalty cards: Customers can carry a physical loyalty card with them and present it every time they make a purchase. This option is best for businesses with brick-and-mortar locations.
- Online loyalty program: Customers can sign up for your online loyalty program and earn rewards that way. This is a great option for businesses that are solely online.
For online loyalty programs, you have a few different options including points, tiers, and levels.
- Points: Customers earn points for every purchase they make or action they take. They can then redeem those points for discounts, free products, or other rewards.
- Tiers/Levels: Customers move up to different tiers or levels based on how much they spend or how often they purchase from you. The higher the tier, the better the rewards.
No matter what type of loyalty or rewards program you decide to set up, make sure it’s something that will work for your business and your customers. These programs can be a great way to increase customer loyalty and sales, so it’s worth taking the time to set them up correctly.
Rewards Program Applications and Services
Once you’ve decided on the type of rewards program you want to offer, there are a few different applications and services that can help you set up and manage your loyalty or rewards program. Some of these include:
- Belly: Belly provides businesses with a digital loyalty card system. Customers can sign up for an account and add their loyalty cards to their smartphones. They can then use the card to earn and redeem rewards at participating businesses.
- Smile: Smile helps businesses set up and manage loyalty, referral, and VIP programs. They offer a variety of features to help you customize your program and track its success.
- LoyaltyLion: LoyaltyLion helps businesses increase customer loyalty and sales with their loyalty program platform. They offer a variety of features to help you engage and retain customers.
- Yotpo: Yotpo helps businesses increase sales and customer loyalty with their reviews, referrals, loyalty, and discounts platform. They offer a variety of features to help you customize your program and track its success.
- Open Loyalty: Open Loyalty is an open-source loyalty program platform. This means that businesses can access the source code and customize the platform to fit their needs. They offer a variety of features to help you engage and retain customers.
These are just a few of the many applications and services available to help you set up and manage your eCommerce rewards program. Do some research to find the one that best fits your needs.
Promoting Your Rewards Program
Once you’ve decided how you’ll track and redeem rewards, you’ll need to promote your program to customers. You can do this by:
- Adding a banner or pop-up on your website
- Sending out an email blast to your customer list
- Posting about it on social media
- Adding a mention in your next blog post
- Promote the number of points/rewards earned on the checkout page or on purchase confirmation emails
There are a number of ways to promote your loyalty or rewards program. The most important thing is to make sure your customers know about it and how they can take advantage of it.
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As you can see, there are many benefits to setting up a loyalty or rewards program for your eCommerce business. Not only will it show your customers that you appreciate their business, but it can also help to increase sales and revenue. Need help setting one up? Reach out to EYStudios today and we’ll be happy to help.