Why customer loyalty programs are valuable?

Why do we value where we shop?

Today we look at why customer loyalty programs are valuable to customers. Ever wondered why you keep shopping at the same shop even after you had a bad experience a couple of times? Maybe you had bought an expired product or had bad customer service. You may also have been unhappy about the store’s/shop environment but for some reason, you still go back. 

You could be out shopping at any location or mall but you always remember to buy bread at the same store every day. They know you-you know them and a part of you feels obligated to shop there daily. This is called customer loyalty. Your reward may not be of any physical value but you probably have a great relationship with the store owner. Should you run into any trouble, you know the shop owner will assist you.

The benefits do not end only with discounts but you also get access to products that you would normally have to travel distances to purchase. Sometimes, convenience becomes a much more important factor than pricing as one can get what they need nearby their home rather than travel long to a shop or mall to buy the same product.   

Make an impression on your customers.

The first time a new customer buys something from you, it’s an exciting moment. It is exciting for both you the business owner and the customer. They are buying something probably for the first time and on the other hand, you will be selling an item to them as your first customer. This is an opportunity for both of you to build a new relationship. But keeping them as a happy customer — and turning them into an advocate for your brand — takes more than just great service on that first sale. What are you going to do to get that customer to keep buying from you in the future?

Rewarding your customers Is another way of providing value. Value is what separates you from the rest. The more value you provide for your customers, the more they feel inclined to spend more of their money with you. They will also help market your business to others via word of mouth for your business for free only if you provide the best service they can get. Customers love feeling and being treated specially, especially by shop owners. This is a clear indication that physical interaction is a very important part of our society. The store owners enjoy seeing customers walk into their shops to interact with their brands and products. In return, customers love being part of something valuable such as getting new merchandise and improved services.

Start today and change your business

One great way to garner happy returning customers is through customer loyalty programs. They’re not just great for your business: customers like them, too: 76% of consumers think that loyalty programs are a part of their relationship with brands — and 83% said loyalty programs make them more likely to continue doing business with certain companies.

What’s the true value of customer loyalty programs, and what are the right and wrong ways to do them? And why customer loyalty programs are so valuable?

Check out the infographic below from SelfStartr to learn useful statistics about the value of customer loyalty programs, as well as tips for how to use them to demonstrate both your customers’ loyalty to your business and your business’ loyalty to your customers. (Read this blog post to for a list of seven customer loyalty programs that have actually added value.)

What do I give my customers?

Business owners always ask themselves what do they have to give to get more customers in return. The answer is value and the ultimate service. Whatever you deem valuable in your business or maybe valuable to your customer, you provide it for them. These two things are more important than anything because they will ensure that your customers keep coming back to you for more services and products. Your customers will trust you, value you, and most importantly share their experience with others. This will help your business grow as you get free marketing and more engagement.  

How do I improve the value of the service I offer to my customers?

Keeping customers and growing a business is a journey. The most important thing is improvement and consistent growth over time. Make sure you are producing great quality products and you provide great service to all of your customers. Offer your old customers key gifts such as points they can earn each time they buy and in return they can use those points to buy more stuff from your business. This way they earn more as they shop and your business grows in overall sales. The most important thing in any business is relationships. Build your relationship with your customers and they will keep buying from you. 

When can one start with these programs?

The simple answer is anytime. As long as your business is operating or even starting up, you can offer your potential clients much more value than competitors. You are at an advantage to make new customers and convert as many of them as possible. The best thing to do is to start today. Get creative ideas, interact with your customers and try to solve their problems beyond their expectations while providing long-term value. Your customers will always remember you because you have made an impression on them and provided value-added services. This is why customer loyalty programs are valuable to your customers. Let us assist you with setting up and designing a valuable customer loyalty program for your customers. (For more information, check out our business development and consulting solutions, proximity marketing, and digital marketing solutions to see how you can use them to help your business succeed.)