There are significant benefits to customer reward programs.
For example, when it comes to the finance industry, firms that retain just 5% of their customers have around 20% more profit. Building customer loyalty isn’t just great for business; it’s also great for customers.
When they can consistently go back to a business that they are familiar with, somewhere they trust, it reassures them of their decision to buy something from that business.
If businesses want loyal customers, they need to have custom reward programs.
They need to know what works for their target market, what would intrigue customers to continue coming back.
Here are 5 tips to consider when using custom reward programs.
1. Make Shopping Convenient
If you want loyal customers, you should consider creating a more convenient shopping experience. This means you need an app that gives customers a way to shop for your product virtually.
You have to consider the software you are using and evaluate if it’s user-friendly. The goal is to make shopping seamless for the customer.
As an example, Amazon is a seamless experience because you can shop online or on their app.
Ultimately, building a custom rewards program is all about the consumer and how to make their life easier. It’s about offering specific features in your rewards program software.
If you want to grow customers and create loyalty, you need automated software. This helps create a more seamless experience for the consumer.
2. Think About the Experience
The experience plays a critical role in a custom rewards program. While some reward programs offer discounts, you can also give something more memorable to consumers.
You can give consumers an experience they won’t ever forget. For example, if you had a beauty shop, you can give them a free makeover with the points they’ve accumulated.
This is sometimes better than a promotional discount.
When you offer an experience to consumers, they will remember your brand. They have an emotional connection with your business.
3. Make the Rewards Exclusive & High Ticket
Another tip to consider with custom reward programs is to make it exclusive.
For example, you can have a rewards program that offers high-ticket items. If you had a brewery, you could give consumers a tour of your business, showing them how everything works after they’ve accumulated a target goal amount of points.
High-ticket offers will often only issue to the most loyal customers. This is why it’s important to have other rewards that don’t require as many points.
It creates a balance among your loyal customers.
4. Think About Your Market & Your Brand
Another critical part of creating a custom rewards program is understanding your market and your brand and how they tie together.
You can’t have a custom rewards program that doesn’t fit your market. If you offer discounts or prizes that are irrelevant to your target market, your ideal customer won’t care about signing up for your program.
This is why it’s crucial to pinpoint your target market and figure out what would help them the most. Figure out what problems they have and how you can help them.
While it’s valuable to know about your target market demographics, gender, age, and other factors, knowing about their problems and how your business helps them overcome that problem is of the utmost importance.
Creating something for your target market also helps your brand become more recognized.
For example, suppose you create a unique custom rewards program with fun experiences. In that case, it’s more likely that your target market will remember you. They will remember the story you are telling them.
This is why you should consider what your brand represents and how it’s distinguishing itself from competitors. You want to make sure your brand and custom rewards program representation is better than your competitors.
You can set up triggers to remind consumers of your brand. These automation triggers can send the right message, at the right time, on the right device, to your consumers, which can lead to more action and more sales.
5. Make It Fun
The final tip about creating a custom rewards program is to make it fun and game-like.
A game makes the rewards program more memorable and enjoyable to play. People love to play games, and it’s a fun competition. When you have a leaderboard and give rewards away for top point earners, it can make the experience a lot more fun for consumers.
It also helps consumers engage with your app. It makes them want to download the app and compete against their friends.
For example, you can offer the top five members whose social share and refer the most friends in a given month a FREE VIP night in your business. Additionally, and probably more important, is sharing with the whole community who the winners are and making the winners public. People work for a living but die for recognition!
It makes your rewards program more fun and interactive than merely offering consumers points.
Now You Know How to Create the Best Custom Reward Programs
Overall, these tips can help you create the best custom reward program. It can help you figure out your target market and how to create a memorable brand.
Knowing how to create the best custom rewards program can benefit your business by creating lifelong customers. Your business will benefit because it won’t need to find new customers all the time.
Ultimately, when you create a custom rewards program, it makes your business stand out and distinguishes itself from your competitors.
If you need help creating a custom rewards program, we can help! See how we make it work by contacting us.
