Within the present financial system, it’s sensible for retailers to put as a lot significance on buyer retention as acquisition. It is common enterprise data that it prices 3 to five occasions extra to accumulate a brand new buyer than hold an current one. So what’s being executed to retain prospects?
Among the many most profitable buyer retention methods in the course of the previous few years has been loyalty applications. Throughout the nation, air carriers (frequent flyer miles) and grocery shops (VIP playing cards) have taken glorious benefit of reward applications. As for regionally, who hasn’t had a hole-punched card from the neighborhood sandwich store stuffed of their billfold or purse?
Whereas they promote the identical idea, these examples are literally fairly totally different. The air service and grocery loyalty applications distribute rewards and seize buyer info. The sandwich store program solely distributes rewards. It doesn’t gather any info to additional profit the patron or their enterprise.
Tip #1: When planning your buyer loyalty program, I counsel that you simply keep away from conventional (hole-punch) playing cards. Go for a Cell system as a substitute. The expertise is current day, it is well-liked amongst shoppers, and it offers you with a highly-effective communication software.
Do not confuse speaking with shoppers through their mobile phone as spamming! Clients “decide in” to take part and have the choice to “decide out” at any time.
Primarily based on Nielsen rankings, in extra of 90% of the inhabitants 13 years and older carries a cell phone. Of those, over 90% hold their cell phone with her or him 24 hours a day.
Your Benefit: Textual content messaging has the quickest learn fee at 90% in quarter-hour with a 97% closing open fee (e-mail delivers a excessive median of 17% open fee in 48 hours). No different system offers you with a extra highly effective approach to work together together with your prospects!
When researching cellular loyalty applications, choose a system that makes use of your prospects’ cell phones and e-mail addresses for knowledge gathering so it would not disrupt your stream of enterprise. This system ought to encompass a self-registration station or permit for purchasers to supply solely their cellular quantity or e-mail deal with to the clerk on the time of checkout, who then enters it into the Level of Sale terminal. The system itself ought to gather any extra info (equivalent to birthday, anniversary, and many others.) out of the checkout line so will probably be quick sufficient even for quick service eating places to implement.
Tip #2: Your cellular loyalty program ought to talk with shoppers by means of textual content messaging & e-mail. Since info is gathered by textual content message and e-mail, this system ought to routinely connect the shoppers’ addresses to your shopper base listings. You possibly can then ship out texts and e-mails to them anytime utilizing a web-based program.
Do not misuse texts and e-mails blasts or your prospects will promptly “decide out” of this system. Any communication ought to be helpful to your prospects and mustn’t exceed 3 or 4 messages monthly.
Your Benefit: Textual content messages are private and allow immediate two-way communication. You’re establishing a worthwhile relationship together with your buyer!
Tip #3: Your program ought to be totally automated. Throughout buyer check-out, it ought to solely want a cellular quantity or e-mail deal with to subject credit and disperse rewards (and by no means disrupt the stream of enterprise). Moreover, your program must also routinely distribute birthday and anniversary promotions.
Nearly all cellular companies measure e-mail open/coupon redemption charges and presents intensive reporting capabilities so you possibly can modify your program to maximise closing outcomes.
Now, that is basically all of the capabilities included with atypical cellular loyalty applications. In fact, you don’t want to be atypical! Your program should be better-than-average, distinctive. Inquire about extra options.
For instance, there is a Cell Buyer Loyalty supplier (the one one which I am conscious of) that is totally built-in into Fb! That makes the subscribing companies’ service distinctive from their rivals and permits Fb customers a easy single-click signal as much as full enrollment. This system then posts related notices to prospects’ partitions and makes unique presents to their buddies following the hyperlinks. The viral nature of Fb itself makes this a good way construct a loyalty program.
One other instance of additional options is the flexibility to transmit voice broadcasts, if most well-liked, as a substitute of textual content. Whereas these are “above common” capabilities, they need to be built-in together with your program at no further expense.
Shoppers are three to 5 years forward of native enterprise in adapting to the altering channels of expertise. Catch as much as your prospects with a Cell Loyalty Program that is enjoyable, cheap and worthwhile. Make the most of cellular advertising and marketing earlier than your rivals.