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In today’s highly competitive environment, customers generally are not loyal to any one organisation, unless that organisation is providing them with some element of reward(s). Customer loyalty programs are critical to companies surviving in the market today. Not just any loyalty program, but one that is adaptive to suit the needs of the customers. The most adaptive program tends to be a Digital Loyalty Program which can be extended to include referral rewards and points for user-generated content shared by your customers.
Some benefits your company will experience after implementing a digital loyalty program.
- Increase your overall revenue. According to invespcro, it cost 5 to 10 times more to acquire a new customer than to retain an existing customer. Your existing customers spend up to 20 times more than a new customer. With such trust, your existing customer’s increase spending will rebound to increase revenue for your business.
- Flexible & High Growth Potential: Having a good Digital Loyalty Program allows your plan to be mobile and fluid. With this in mind, the plan can be very adaptive to the environment by changing and improving your rewards and marketing strategies.
- Attract new customers: A Digital Loyalty Program can be used to attract new customers who may not have supported your brand previously. This attraction can be accomplished through things such as offering points for joining the program and ensuring the rewards are beneficial and achievable.
- Always available and easy to use. Because your target audience always has their mobile phones in their presence, creating a Digital Loyalty Program provides an opportunity for high participation in your program. The loyalty program can be easily retrieved from their mobile wallet.
- Data gathering: Implementing a Digital Loyalty Program, allows you to gather critical information before the potential customer joins your program, which can be used for retargeting in future promotions. These data can include email, phone numbers, names, addresses, etc.
The following are some industries which that the program can be applied to.
MPowerTT provides everything you need to increase customer loyalty through our Mobile Loyalty Platform, incorporating either Stamp, Points, or Reward Cards. Choose the style that suits your businessMPowerTT provides everything you need to increase customer loyalty through our Digital / Mobile Loyalty Platform incorporating either Stamp, Points or Reward Cards
- This is our most popular program for building loyalty for your business. Stamps are issued for each transaction, whether it be based on a purchase, visit, or another action. Ideal for situations where the transaction is based around the repeatable purchase of a product, service, or action.
- Points are issued for each transaction, whether it be a purchase of a product or service or any other predetermined action. Ideal for programs where there is a wide range in values, higher values, or lower transaction frequency.
- Examples include Furniture Store, Retail, Fashion, Accommodation, or Health & Beauty businesses where both service and products are sold.
- Let your customers save all their points to one card and redeem rewards on the amount they have collected.
When you created your first digital loyalty card, it’s time to launch! There are multiple efficient ways to distribute your Loyalty Card. Select the one that fits your business’ goals or the one you prefer. E.g. If you already have an existing customer database which might include emails or phone numbers, this can be a starting point with an email and SMS blast. Other areas can include:
- Website: Digital Loyalty Cards integrated seamlessly on your website.
- Social Media: Share your Digital Loyalty Card through Social Media Platforms
- Set up ‘table tents’ with a QR Code or NFC tag. This way, interested customers can easily subscribe by scanning the QR Code
Once the Loyalty Cards are distributed, users have to register themselves to become part of the ‘club’. The following options are available for registration: Social login (Facebook or Google), or by entering an email address with a password.
ASSIGN POINTS / VALIDATION
You’re in charge when and how many stamps or points the cardholders receive. To assign points or stamps, there are multiple approaches. Choose one approach when creating your Loyalty Card. That’s where you set up the validation password and/or unique code.
- On user’s device (validation password)
- The merchant enters the validation password on the cardholder’s device to assign points.
- Enter unique code @ merchant’s device
- Merchant logs in to the validation widget. For validation, the merchant enters the unique code that’s displayed on the cardholder’s Loyalty Card.
- Scan QR Code for validation
- Merchants scan the QR Code displayed on the cardholder’s device. It’s possible with or without a valid password. It depends on what we have set up while creating the loyalty card in the first step.
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