Here's All You Have to Know About Customer Loyalty Programme for Your Ecommerce Store
A customer loyalty programme rewards customers who have been loyal to your brand as part of a Customer Retention Strategy — whether they’ve purchased once or a hundred times, it’s important to appreciate every customer. Acquiring a new customer is up to 25 times more expensive than keeping old ones, so building relations with previous customers reduces costs and makes more money.
Why You Should Create a Customer Loyalty Programme
Lower ad spend by retargeting existing customers; boosts referrals since 75% of people would recommend a loyalty programme to friends; improves retention through perks and discounts; helps you learn more about customers; builds brand loyalty; and increases sales by remarketing to those already familiar with your brand.
Libra Web Solutions service include: Ecommerce Loyalty Programme Development, Customer Retention Strategy Development, Loyalty Programs for Small Businesses, Ecommerce Development Strategy.
1. Decide Reward Points
Reward customers not just for purchases, but for actions like account registrations, birthdays, referrals, and social media following.
2. Name It
Give your programme and points a unique, identifiable name — loyalty programmes perform better with an interesting name your shoppers can get excited about, rather than just calling them ‘points.’
3. Decide Point Value
Points are worth money at your store, so know their redemption value. If changing from a default value, research first and track your audience’s behavior.
Libra Web Solutions service include: Ecommerce Loyalty Programme Development, Customer Retention Strategy Development, Loyalty Programs for Small Businesses, Ecommerce Development Strategy.
4. How Many Points to Reward
Decide how much each action is worth to you. Showing customers the true value of their points drastically increases the odds they’ll return and shop with you again.
5. Explain the Programme
Create a page outlining what it’s called, what actions get rewarded, and how points can be redeemed. Include it in your navigation menu as a constant reminder — the more visible you make the programme, the more effective it is.
Customer retention is more important. With a well built loyalty program, you’ll give your customers a great reason to come back again and again. If you have any questions setting up your loyalty programme, feel free to contact us at info@librawebsolutions.com. Libra Web Solutions transformed around 80 ecommerce ventures for customers from UK, Australia, India, Hong Kong, Singapore since 2008.
Sharmila specializes in business development, lead generation, and customer service. She has an interest in bringing traditional businesses online, and currently handles business development and customer support at Libra Web Solutions.