Loyalty program: 7 ways to create one for your store

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Did you know that acquiring a new customer costs up to 10 times more than selling to an existing one?

Not only that, but on average current customers spend 67% more than new customers.

In light of statistics like these, retailers should be thinking about what they’re doing to increase customer retention and keep them coming back to their stores again. And if you’re like 65% of marketers, your company has already implemented a loyalty program.

We at Himarket help retail companies – shoe stores, supermarkets, pharmacies, semi-jewelry stores and all other businesses – to make their customers return to their stores, both physical and online, to buy more, as we send personalized communication based on purchase history.

That’s why we understand and have proven the effectiveness of loyalty programs. In this post, we’ll tell you 7 ways to create a loyalty program for your business that work.

What is a loyalty program?
A loyalty program is a rewards program offered by a company to customers who frequently purchase its products. A loyalty program can offer customers free merchandise, rewards, coupons, or even early release products.

According to the Brazilian Association of Loyalty Market Companies (Abemf), the number of Brazilians enrolled in loyalty programs grew by around 15% in 2016 and ended the year at 90 million. There were around 12 million new registrations in one year.

According to the marketing director of Dotz, a loyalty program focused on retail, the volume of points converted into prizes has increased. In other words, consumers are increasingly seeking out and becoming aware of these programs, especially at a time when there is so much talk about saving money and cutting costs.

However, now is not the time for store managers to dream up complicated rewards systems, but rather to offer real value to customers when creating a loyalty program. To get you started, here are some ideas for how to create a customer loyalty program that could work for your business.

On our YouTube channel, we released a special video with tips that will help you build customer loyalty in your store. Check it out by clicking below!
YouTube video
1. Adopt a loyalty card system
Accumulating loyalty card points is the most common loyalty program overseas chinese in usa data methodology. Frequent and repeat customers earn points that translate into some type of reward. Whether it’s a discount, a freebie, or a special customer gift, they will work towards a certain amount of points to redeem their reward.

However, where many companies fall short with this method is making the relationship between points and rewards complex and confusing.

“Fourteen points equals one real; and twenty reais earns you 50% off your next purchase in April.”

…this is not a reward, it’s a headache.

If you choose to create a points-based loyalty program , keep the conversions simple and intuitive. A points-based system is the most common form of loyalty card program. Clothing stores, convenience stores, pharmacies, restaurants, entertainment, and the like are all types of businesses that can benefit from a loyalty program because it encourages frequent, short-term purchases.