Your guide to setting up a loyalty program that’s rewarding for both your customers and your business.
Congratulations! You’re a brilliant business owner and have made the decision to set up a loyalty program for your business. You know that 81% of consumers are more likely to continue doing business with brands that offer loyalty programs* and 73% of loyalty programs members are more likely to recommend brands with good loyalty programs,* so your program is a crucial part of your marketing strategy. And, you’ve chosen Rewardle because you know our system not only rewards customers but also has full digital marketing capabilities, unlimited support, and your own dedicated success team.
Having set up over 5000+ small business around Australia with custom programs that have engaged 2.4 million loyal customers, we know a thing or two about loyalty programs and rewards! We thought we’d share our top tips and tricks for using your loyalty program to your advantage…
Offering Multiple Rewards
Sometimes more is more. 63% of loyalty program members believe having a wide range of rewards and offers is the most important aspect of a loyalty program*…and we agree! Customers love choice and offering just a few extra rewards can make a big impact on customer engagement, retention, and happiness.
Using Rewards to Communicate
Rewards aren’t just for rewarding customers with something free. They are a powerful tool for informing and influencing your customers. Many of our merchants use additional rewards to communicate and advertise other elements of their business. For example, a free muffin, sandwich, hair product, eyelash tint, discount on catering services or personal training sessions are great ways to upsell to loyal customers who otherwise would never have tried (and loved) the other wonderful things you offer. By doing this you can not only get customers coming back more often but also spending more at your business!
Types of Rewards
The Rewardle platform has been designed to help businesses provide both financial incentives and recognition to their members in an engaging, financially viable manner that also provides them with insights and data to inform their decisions. Rewards don’t always have to be freebies– we’ve always encouraged offering a combination of discount/free products and social/experiential rewards as part of a membership, points and rewards program. Here’s a quick run down of the different types of rewards you can offer:
- Financial Rewards | Free Coffees, 10% Discounts, Donation to charity, etc.
There’s a huge misconception that businesses are taking a “hit” by offering “free” coffees or other discounted rewards. It is crucial that your program is set up in a way that financially benefits your business. These rewards should be driving customers to come in more often than they otherwise would; by the time you reward them they have earned/paid for their free product or service. Second, there are so many amazing rewards you can offer that require no financial outlay from your business whatsoever. Here’s a quick run through of other different type of rewards and some of our favorite examples:
- Social/Experiential/Non-Financial Rewards
A social reward brings out the “fun” part of your business – and it creates positive word-of-mouth marketing for your business. Give them a go – you’ll be surprised the amount of buzz it can generate. Some of our favourite non-financial rewards are:
- fist bumps or high fives
- picking your hairdresser’s hair color for the month
- making your barber do push ups
- getting a sandwich named after you.
We have even had customers come together to pool their points to achieve something extra special… like dress up their barista in an op shop ball dress for the day.
These are all rewards we have seen in action – and have seen them have an instant effect on the enjoyment and interaction of customers within the business.
- Competitions/Grand Prize Rewards
Competitions are a great way to get customers excited. They can be small rewards like earning enough points to play rock, paper, scissors with the cashier for a chance to win a free taco or big like one cafe who put up 1 trip to Bali for a really high number of points and had customer race to see who could claim it first.
- Promotional Rewards
Rewardle often runs competitions and promotions that add value to the merchant experience. As a Rewardle merchant, you’ve subscribed to a massive network of businesses so you’re never alone in your growth. We can leverage the scale of this network to negotiate with big businesses to provide prizes and rewards small businesses might not be able to afford on their own. Examples of these includes travel vouchers, fuel vouchers or products like sparkling water or chocolate for giveaway to your customers.
And there you have it – some simple and classic examples of how you can increase the value of your rewards program and really take advantage of your Rewardle system by offering a wide range of varied rewards!
If you’d like to discuss rewards, find out how to alter/add rewards on your system or have a friendly chat, contact our Success Team on 03 8593 4173 or firstname.lastname@example.org