Customer loyalty program has become an integral part of all business. If you want to expand your business or grow your sales rate then it is important for a business house to know the art of customer satisfaction because they are an important aspect of the business. In this respect customer loyalty program is a very crucial factor.
Why is the importance of having customer loyalty programs in your business?
If you increase your customer rate then your business rate will automatically increase but it is not always possible to acquire new customers. For this purpose the energy and time that is required is way more than that is required forwithholding older customers. Any business house can put that energy in improvising themselves. But the main agenda is that to keep the older customers happy with your company in this market where the competition is so tough, every business firm need to come up with certain creative ideas with the help of which they can make their customers satisfied with them. Many such ideas include rewarding system in which a long-time customer who is with a particular brand will get rewarded for being with the same brand.
A customer loyalty program helps you to achieve the method which allows every business firm to give certain advantages to their valued customers. This program will help your repeat customers to stay loyal to your company and thus there will be a growth in your business.
With the help of a customer loyalty program, the company can also strengthen their relation with their customers instead of just giving away free rewards. For businesses like e-commerce it is also important for them to select the right loyalty program for their business.
Types of customer loyalty programs for e-commerce
There are several types of customer loyalty programs for expanding your e-commerce business and they include:-
The method of point system
The method of point system in customer loyalty is the most basic and simplest form of loyalty programs. The main criteria for this method is that the customers have to spend more for earning more points that will increase their chances of gaining ore rewards.
Each time a customer buys something from a website that purchasing amount will be stored directly in to their site and based upon the amount they spend they will be rewarded with a point. Also the point system is easy for customers to understand and they will attract more customers because of this fact. To know more visit the page Edenred Singapore.
But the amount of point that you will get can depend on every business sites. Like for instance, there are certain sites that denote one point for purchases made for one dollar similarly certain other sites will reward with one point for purchases made of ten dollar.
The method of tier loyalty programs
The tire system will allow any e-commerce site to reward their customers based on their loyalty level. It actually means that the more a customer is loyal to the brand; they will get more valuable rewards.
This type of tire system is very efficient for the travelling business firms. They will issue greater rewards for their long term customers and the value and also the size of the reward increases with time. This method will certainly increase the encouragement level of the customers to stay with the brand with a longer period of time.
There are certain e-commerce business firms that have the system of dividing their loyalty levels into certain sub levels like that of Ruby, platinum, diamond and gold. With each purchase when a customer is rewarded they will reach in the higher level of loyalty. As the customers moves higher in the loyalty table the chances for them to have more rewards will increase.
But one thing should be kept in mind that levels of reaching the highest place in the table should not be that easy or it should not be that tough. There should be a balance between them and for having a successful e-commerce business it is important for you to find that. Also the method should be realistic for the customers to be hooked on to the brand.
The method of value based reward system in ecommerce
When an e-commerce business house is focused on charities or more precisely when it is focused in a more charitable customer base then the system of loyalty program that is linked with value based program is important for them.
For making the customers loyal to your brand it is important that you create loyalty programs that are linked or at least associated with the values of the customers. Some of the good examples of good loyalty programs for e-commerce are described below:-
Eco friendly beauty products – These eco-friendly beauty products are a good example of e-commerce loyalty programs and they are mainly associated with and they support environmental organization.
The equipment that is related with music or sports – These are also a good example and they mainly support local music initiatives and also sports clubs.
The example of book and art –This type of Customer loyalty program will support educational programs and also local art initiatives.
The loyalty programs that are based on the values of the customers can make your business more successful as they help the business firm to connect with the customers on a stronger basis.
The method of coalition program for e-commerce
In this world where everything is a competition, customers are always on the hunt of new business houses that are providing good quality services and also rewards but there should also be flexibility in the reward system.
There are many e-commerce business firms that are opting for the idea of entering into a partnership with certain other site and creating more valuable and exciting loyalty programs or reward system for the customers. The better the reward system, the chances for the customers to remain loyal to the brand will be more.
The method of loyalty game programs for e-commerce
Gaming is such an option that is loved by all. So if a business house turns their loyalty program into an exciting gaming app then it will surely increase their customer loyalty and satisfaction. It will also increase the sales of the business. There are certain e-commerce business firms that have the game that will offer the customers to spin the wheel and they can get rewards by playing it. Such an exciting system will allow the customers to play the spinning the wheel game only when they have made the purchase. To know more visit the page Edenred Singapore.
The method of paid customer loyalty program
This method of paid program will allow the customers to join the VIP member club or a particular business firm once they have paid a monthly or annual based fee to the firm. Once they have joined the VIP customers club they are spoiled with many advantages like getting free sample products that have not been yet launched in the market. They also get more discounts than the normal customers.
It is also an important method to hold on to the old customers because they are the one that opt for these types of programs rather than the new customers. It also makes the relationship between the customers and the business firm stronger.