A well-thought-out Loyalty Program is vital for Retention!
“Make new friends, but keep the old ones. One is silver and the other is gold.”
Everyone gets excited about new customers. But did you know that acquiring new customers costs your business 5x as much as retaining old ones? So why work so hard to get them in the front door only to see them go out the back door?
Loyalty programs can help you achieve your goal but they shouldn’t just be about stamping paper cards, scanning keychains at the counter, or trying to get people to collect free prizes - the ultimate goal of any local business is achieving TRUE LOYALTY.
True loyalty becomes a reality when a customer refers to your business as: “My gym” or “My hairdresser”, or ‘’My café’’.
A loyal customer visits your store more, shares more often on social media, and is willing to post good reviews and even recruit on your brand’s behalf. What’s more, a loyal customer is 5x as likely to repurchase, 5x as likely to forgive, 4x as likely to refer, and 7x as likely to try a new offer - experience matters!
This is exactly why we have automated these exact interactions! Why not give a few points for amazing reviews and have your loyal customers share great offers with all of their friends! All it takes is a little setup and you are on your way to True Loyalty!
Step 1: Determine the number of points your clients will receive for these life-changing actions!
First, click on Loyalty on the left side of your account.
Next, click Edit.
Advanced Loyalty Program
This program allows you to set up Loyalty points for any service or purchase that has been synced to your Referrizer account.
Quick Facts:
Points for Check-in: Assigns points for each visit. What better way is there to show customers how much you value their activity at your business? We always recommend giving at least a small token of appreciation for this.
Points for sharing on social media: This will assign points each time your customers share your great offers to all of their friends on Facebook after they have visited your business. You get new customers, they get more loyalty rewards. It’s easy as pie.
Points for Reviews: This will assign designated points for each review your customer posts after a visit (you can limit the use of this). Loyal customers are willing to contribute by leaving a positive review which in turn brings in new business.
Click Next to set up your rewards.
Step 2: Set up your rewards
The best way to keep clients engaged in your loyalty program is to offer them the stuff they love the most as the highest reward. Keep them striving and wanting but also space rewards out in close increments so that it is always enticing!
Feel free to ask your account manager for examples of rewards used at similar businesses.
Keep in mind, the first reward should always be the total number of points received by 3 or 2 actions we have: check-in, voucher share, review.
1. Points - Decide how many points are required to redeem a reward.
2. Reward - Easily identifiable title to explain the reward that is redeemable
3.Total in Account - Allows you to determine if the reward is always available (unlimited) or has a specific quantity.
4. Per Customer - Allows you to determine if the reward can be redeemed multiple times by the same customer if they earn enough points (unlimited) or set a desired amount of times.
5. Add another reward - Click on the "add another reward" button to add as many rewards as you feel are a good fit for your business and loyalty program structure.
6. Save changes - Click on save changes is required to save any edits
Loyalty Program for Multi-Account Businesses
If you own a Multi-Account Business (a business with multiple locations), you are now able to set a Loyalty Program from your Corporate Account for all your Sub-Accounts.
In other words, if this new feature is turned on, once the Corporate (Primary) account creates a Loyalty program, it will be applied to all other Sub-Accounts (other locations).
Note
If a loyalty program already exists in any of the Sub-Accounts, it will be automatically deleted and replaced with the loyalty program created by the Primary account.
Opportunity to design a loyalty program with a Platinum Expert!
Click the link below to jump on a call with a Platinum Expert to help you design the loyalty program. They also might have suggestions for other things
https://calendly.com/referrizer-time/onboarding