If you're thinking of launching a loyalty rewards program, today's infographic by loyalty and referral company Zinrelo will convince you to. It lists 10 benefits of loyalty programs and it's full of tips for how to make yours succeed.
For example, one of the main goals of a loyalty program is to drive repeat sales, and the graphic offers a simple formula you can use to measure whether that's happening.
A loyalty program also allows you to reduce reliance on discounts. The infographic points out that discount-oriented customers are likelier to switch brands if a competitor offers a better price—a concept that we explored recently here. Offering loyal customers points instead of (or on top of) discounts can reduce your need to cut prices.
A loyalty program is also a great way to encourage user-generated content, the graphic points out, as you can award points for customers who upload photos, write reviews, or answer questions.
To see more benefits of a loyalty rewards program, check out the full infographic. Just tap or click to view a larger version.
You may like these other MarketingProfs articles related to Customer Relationships:
- Boost Your Sales With Strategic Gifting [Infographic]
- How to Use Empathy in Your B2B Brand Storytelling
- The Role of Customer Empathy in the Future of Marketing
- How to Offer More Value to Your Crisis-Stricken Customers [Infographic]
- Planning Your COVID-Related Communications: A Flowchart [Infographic]
- CX Will Be Essential for Rebuilding After COVID-19: Four Steps You Need to Take Now