Implementing a customer rewards program you can experience an increase in sales and revenue. Most of the customers prefer brands with rewards programs in them. A recent study by Yotpo says, 83% of the customers purchase from the same stores that run a customer rewards program. Also, rewards programs are the right path to stay ahead of the competition.
So it’s an open secret that implementing rewards programs for customers will redefine their shopping experience. On the other hand, it excites them to return to your store more often. Also, by rewarding them through word-of-mouth referrals, you can maintain your sales level, make extra profit, and gain more customers.
Learn more about how customer reward programs work through this blog.
Use WPLoyalty to implement a customer rewards program and increase sales & revenue efficiently.
What is a Customer Rewards Program?
A customer rewards program is a marketing strategy implemented by businesses to encourage and incentivize customers to make repeat purchases and remain loyal to their brand. To make this strategy effective, you must recognize their role and reward them accordingly to make them participate in the rewards program.
A rewards program encourages customers to purchase more products from your store. More products will eventually increase your sales and revenues. Getting started with the customer loyalty rewards program will help you retain old customers and acquire new customers for your store.
What makes a Customer Rewards Program so Important?
A customer reward program is so important for a WooCommerce store to increase revenue, boost sales and improve customer satisfaction. Make sure your reward program for customers focuses on retaining the existing customers because retaining is proven to be effective in growing your eCommerce store. Moreover, remember the customer reward program plays a big part in it.
Retaining existing customers is essential if you are focusing on acquisition or retention. Most of the customers would switch brands for a better customer experience, offers, or reward programs. Likewise, most of the customers will choose the brand with points and rewards. So, stay different from other brands by implementing a customer reward system at your store and prove to your customers that they can trust your brand more than others.
Do Customer Rewards Programs create Loyalty?
A well-designed Customer Rewards Program will attract customers and create loyalty. Hence, please pay attention to your customers’ demands, resolve them quickly and earn their trust. Similarly, use a well-built WooCommerce plugin for your store and make your rewards program automated.
With a rewards program, you reward customers for every action they make at your store. Rewards can either be points, coupons, or exciting discounts. You can also reward your loyal customers with freebies or free shipping. These types of rewards will excite customers and make them stay loyal to your brand.
You can send automated emails to your customers as a thank you for their purchase and extend special deals, sales, and discounts to make them come back. To stay loyal, make sure that the unique discount or offer is related to the objectives of each customer. Always try to make your customers feel important regardless of your preferred approach.
Launch WPLoyalty and automate your rewards program in an easy way to increase sales.
Why does your store need a Customer Loyalty Rewards Program?
Your store needs a customer loyalty rewards program since it offers huge benefits to your store including improved customer retention and engagement. With the best customer rewards program, you can appreciate your customers’ loyalty. On the other hand, you can experience an increase in sales and revenue.
However, just thanking them through an email after each purchase is not enough to attract them. Most customers acknowledge that attaining an expectation or rewarding themselves keeps them loyal. So, start rewarding your customers based on their preferences.
Another advantage of rewards programs is that you can reward your existing customers for referring their friends and family to your store. Rewards has the capability to convert your existing customers into brand advocates. In the same way, you get a new customer to your store, and it’s more like a win-win situation.
Types of Customer Reward Programs
Customer Reward Programs are cost-effective for increasing sales and customer retention. It would help if you remembered that giving away reward points and exciting coupons or discounts to your customers is always a better strategy.
One of the simplest and most effective ways to strengthen your customer relationship is to express your gratitude sincerely. It’s clear cut, but surprisingly few stores ever sincerely thank customers for their purchases. One of the easiest ways to thank your customers is through a customer rewards system.
Let’s look into the different types of customer reward programs that you can offer to your customers.
Points for purchase
Reward your customers as soon as they make their first purchase. Rewarding first customers right away as soon as they make their purchase creates a significant impact on your store. Create offers and discounts to attract customers and make them repeat buyers.
Rewards based on spending
Giving customers points or rewards can boost productivity and sales. Customer loyalty rewards programs are significant as loyal customers spend more dollars on each transaction. So, reward your customers for spending each dollar at your store.
Rewards based on order goals
Provide points/coupons to your customers based on their order goals. Remember, rewards are one of the reasons for your sustainable growth.
Referrals rewards
Customers will always trust more when a friend recommends a product to them. So, give rewards whenever your customer refers your store to their friend or colleague. Using this customer referral rewards program, you can earn new customers and retain your existing customers.
Signup rewards
Your customers will feel special whenever you welcome them with a point or reward. So, reward your customers as soon as they sign up for your store, encouraging them to continue their purchases.
Rewards for a product review
Make your customers write a review about a product and reward them for doing it. This way, you will get more reviews and help other customers choose the best fit for them.
Social-shares rewards
Reward your customers with points or coupons for every effort they put in. Giveaway rewards to your customers whenever they share your products on social media like Facebook, Twitter, Instagram or WhatsApp.
Best Customer Rewards Program Examples
Let’s look into the best customer rewards programs, which are more effective among customers.
TOMS Rewards Program
TOMS Reward program is a free customer rewards program where customers can earn points for buying, clicking emails, and liking TOMS on social media. When customers sign up, they earn points for buying, clicking emails, and liking TOMS on social media. They receive perks like coupons and early access to their store.
Customers usually prefer TOMS for giving away such perks, and these rewards encourage them to make many more purchases at their stores.
Hyatt Rewards Program
Hyatt offers the five-tiered customer loyalty rewards programs to reward customer loyalty. Hyatt’s loyalty program is available to everyone because they provide a membership that is free and has no restrictions.
They provide benefits, including discounts at their resorts and hotel stay, entry to exclusive member-only offers, and the opportunity to earn points for nights at the hotel, dining, spa services, and other activities.
Customers prefer Hyatt as they can choose the reward and spend the points earned according to their preferences.
Swarm Rewards Program
Swarm is a check-in app where customers are rewarded for their check-in at different locations. They offer a 20% off coupon at Best Buy for every check-in.
Customers love using the Swarm app as they give away rewards, including vacations, spa days, and shopping excursions.
Odacite Rewards Program
Odacite customer rewards program encourages customers to visit their store frequently to make a purchase. Customers are divided into three tiers based on the amount they spend. They offer one point for every dollar they spend, and the earned points can be used to exchange money when they finally check out.
The main objectives are to accomplish and benefit both the company and its customers.
63% of the stores have already started implementing a customer rewards program. Get WPLoyalty & reward customers for every action in an easy way.
How do Reward Programs Increase Customer Engagement?
With a customer reward program, you can create the best impression and that increases customer engagement. You should always initiate your first move with your customers. Make them realize the value of earning points and remind them more often about how interesting this reward program works.
Similarly, their loyalty to your brand will grow each time you engage them. Rewards will undoubtedly excite a customer, and your engagement rate will continue to rise if you consistently leave your customers wanting more.
End Line
A customer rewards program can be highly beneficial to boosting customer loyalty, and it can be easy to set one up. So, don’t wait to get started. With all the needful information on how a reward program works, give away the best customer rewards program for customers and make them feel special.
Also, choose the best WooCommerce plugin like WPLoyalty and give an amazing customer rewards program and meet up the expectations of your customers.
eCommerce stores usually create customer reward programs to increase sales and retain their customers, and you attract customers and make them purchase more from their stores. Generating more revenue is one of the purposes of this program.
To get started with a customer reward program, you should study your customers’ preferences and the product they like and prefer. Then set your goals and budget, decide on the target customers, and finally, use a well-built WooCommerce plugin and launch a reward program.
A study says loyal customers usually buy more of your products again and again than shifting brands, and loyal customers spend more than new customers. So, to make them stay loyal, you must reward, nurture and retain them.
The rewards program will increase word-of-mouth sales (WOM). So, when your customer refers your brand to their friends or colleagues, sales will automatically improve, generating more revenue for your store.
Companies create customer reward programs to increase their profits and improve new sales, leading to sustainable growth.
