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How to Set Up a Loyalty Rewards Program

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There are several steps to setting up a loyalty rewards program for your best customers. First, you have to decide which customer actions to reward. You then need to select a suitable range of rewards to offer. Once you’ve chosen rewards that customers will love, you need to create a buzz about signing up. Customers should feel excited about getting a reward for being loyal to your brand. Once your program is established, a customer rewards platform can help you set up and manage it seamlessly.

Also Read: A Practical Guide to Building a Points Rewards Program

How Is Customer Loyalty Earned?

It isn’t easy to earn customer loyalty, and it has become even more difficult in recent years. Customers are more willing to switch to a rival brand or company if they have a bad experience or they find a better offer. That’s why building a loyal following is so important. You can earn customer loyalty in several ways, including:

  • Offering excellent customer service. Make sure customers can get in touch with your company when they need help. Frustrated customers won’t be loyal to your brand for long. Live chat functions, chatbots, and 24-hour phone and email support all prove beneficial when you want to deliver the best customer service possible.
  • Be consistent. Customers want to be sure they’ll have a great experience with your brand every time. They want to know what to expect from your company and not be disappointed.
  • Amplify the voice of the customer. Share good customer experiences with your followers and potential new clients. Gathering feedback and sharing positive testimonials helps to make your brand more trustworthy.
  • Reward customers. Long-term customers are valuable to your brand. Show them how much you appreciate them with a loyalty program.

What Are the Benefits of a Loyalty Program?

Customers want you to know that you value and appreciate their business. They also enjoy getting something for nothing. That’s where a loyalty program comes in. When you reward customers for staying loyal to your brand, they’re more likely to keep coming back. Statistics show that customers who join loyalty programs have a 75% greater chance of buying another product if they receive incentives.

Some of the advantages of loyalty programs include:

  • They set your brand apart from its competitors.
  • You’ll retain more customers.
  • Customers may spend more with your brand.
  • You’ll receive more referrals from existing customers.
  • They’re a cost-effective approach. Acquiring new customers is more expensive than retaining the ones you already have.
  • You can get more reviews and user-generated content to promote your business.

Which Customer Actions Should Be Rewarded Through a Loyalty Program?

Of course, your loyalty program will reward customers for purchasing from you. However, you can reward other customer actions, too. Some examples include:

  • Engaging with your brand’s mobile app.
  • Watching your product videos.
  • Sharing your content on social media.
  • Signing up for your newsletter or blog.
  • Referring a friend.

What Kind of Rewards Should I Offer?

Digital gift cards are a popular type of reward to offer through your loyalty program. There are many different approaches to take. You could opt for e-gift cards that recipients can use when shopping with specific brands, such as Walmart, Amazon, or Target. You could also choose a digital prepaid Mastercard or Visa, which your customers can use in a wide range of online or physical stores.

Other options include gift cards for activities or experiences, such as one for AMC Cinemas or Spafinder, for example. Dining e-gift cards are another popular choice, or you could offer e-gift cards to put toward travel. Hotels.com, Southwest Airlines, Delta, and Airbnb all offer digital gift cards that are popular with recipients.

You could even offer charitable donations as a reward option. There are many different possibilities for loyalty reward donations, including the Red Cross, World Food Program, and the American Cancer Society. Your customers will love to know you have donated to their favorite charities.

The best option is often to let your customers pick what kind of reward they want. With the right rewards management platform, you can curate a selection of e-gift cards, prepaid cards, and e-donations for them to choose from.

What Is an Appropriate Value for My Loyalty Rewards?

The amount you offer as a loyalty reward should align with the time, effort, and money spent. For example, completing a 20-minute survey is worth more than simply sharing a blog post on social media. That is why digital gift cards are a great idea. They come in a wide range of values to suit different needs. They even come in other currencies for use in different countries.

How Do I Manage a Loyalty Rewards Program?

The easiest way to manage a loyalty rewards program is to use a platform like the one offered by Rybbon. Rybbon is a leading provider of e-gift cards for marketing, research, and customer rewards. With an enormous variety of digital gift cards to choose from, Rybbon makes distributing loyalty rewards easy. The platform integrates seamlessly with many leading survey, marketing, and community platforms, so it works with the tools you already use. With options to personalize reward emails and redemption pages, you can ensure an outstanding rewarding experience for recipients. And Rybbon’s robust tracking and reporting capabilities help you monitor your success. You can find out more about what Rybbon has to offer by getting in touch today.

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