Customer Rewards
Every successful company knows how vital customer rewards are. Your customers are your biggest asset and you need to keep them coming back for more. In today's market customers are more savvy than ever before and are more than happy to swap to your competitor if you don't give them a reason to stay with you.
It is much easier and more profitable to keep your current customers happy than trying to recruit new customers.
Customer Rewards create Customer Loyalty
When thinking of different ways of rewarding your best customers it's important to recognise that you want a long term relationship with them. Don't give them a large reward straight away, build up to it. By rewarding your customers you will increase their motivation to buy your products.
Top Tips when setting up a customer rewards program
1. The aim is to encourage your customers to make more purchases from you and increase their loyalty to your brand. Remember this.
2. Use the data you have on your customers to build a database and sort them into segments so you can target your communications. Customer recognition is very important and shouldn't be overlooked.
3. Make your program desirable and try to give a special offer or small reward to customers who sign up. Encourage them to tell their friends and family about the rewards program and allow them to sign up too.
4. Your customers need to fully understand what they need to do in order for them to receive their customer reward, don't keep it a secret. If they will receive a reward after 10 purchases then they need to know it, otherwise they might stop at number 9!
5. Have rewards at different stages rather than one flat reward. Maybe a small reward after 5 purchases, a slighter bigger reward after ten purchases and so on. You need to make sure that any customer reward you introduce can be maintained. You need to estimate how many people will sign up and how many of those will reach each 'level.' You also need to be aware that a lot more people than you expect could join so you need room in your budget for this.
Gift vouchers and gift cards make good customer rewards because they are flexible. You can buy some more if you run out or if you have too many use them for other things. If you decide to send them an item that has been branded up with your company logo then this can be more costly as any overstock will be difficult to get rid of.
Favourite gift vouchers for customer reward schemes:
- Love2shop vouchers
- John Lewis vouchers
- M&S vouchers
- National Garden gift vouchers
- Thomas Cook vouchers
Want to order gift cards and vouchers? Think HighStreetVouchers.com
You'll find the perfect gift vouchers and gift cards for your customer rewards at HighStreetVouchers.com.
From the Love2shop voucher to M&S vouchers, John Lewis vouchers to Virgin experience days you'll find exactly what you want and the quick and easy ordering system means that it's hassle free. Order up to £3500 and remember HighStreetVouchers.com don't charge a card handling fee and next day delivery is available.
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